Tech and multi-use give stadiums a sporting chance in portfolios

COMMENT As international investment continues to flow into UK sports, developers and designers will be considering what successful sport and entertainment venues will look like in the future. How can these spaces drive value for investors? There is no doubt we need to future-proof sports and entertainment venues to attract and retain the next generation of increasingly tech-savvy and conscious consumers. But embracing technology is about more than pandering to Gens Z and Alpha – it’s critical in ensuring venues are cemented as a vital part of mixed-use portfolios. Consumers now expect experiences to blend the physical and digital, and big companies and sport clubs are responding to these demands. Manchester City was the first UK club to announce that it was creating a metaverse replica of its home football stadium, teaming up with Sony to do so. The digital arena will feature virtual experiences, customisable avatars and interactive loyalty programmes. But, after the initial headlines, the response to the content has been more muted. We expect to see more stadiums follow suit and enter the metaverse to deliver additional content, but in the long term it is necessary to create opportunities for more meaningful interactions between the venue, its fans and commercial partners. In addition to creating a metaverse replica of a physical football stadium, we will need to add more layers of functionality to deliver on the full promise of the metaverse. Not just for Saturday Embracing technology in a meaningful way should drive engagement in footfall, but it can also support physical stadiums in acting as vibrant and commercially viable spaces at the heart of communities. The HKS-designed SoFi Stadium on Hollywood Park in Los Angeles is a high-profile example of a stadium that has embraced digital, including the largest and only dual-sided video board in the world. It merges the seating bowl and video boards into one element, so fans are fully immersed in content, not just looking at it. These types of innovations make SoFi a multi-use stadium that can support all manner of sport and entertainment events, and combined with a new YouTube theatre and LED immersive venue on the development, it also means Hollywood Park is a vibrant destination seven days a week. Venues that can be used by the community for more than just Saturdays are not only better for the environment, but they bring greater benefit, investment and opportunities to communities and local economies. It’s one of the biggest criticisms of the most recent World Cup stadiums – perceived as single-use, damaging for the environment and limited in their long-term value for their communities. The Olympic legacy of Stratford in east London, on the other hand – while not perfect – has driven a decade’s worth of investment in infrastructure and development, and improved prosperity for the area. Access to arts Amid all the talk of levelling up in the UK, this new breed of digitised venues – whether giant stadiums like SoFi or smaller immersive experiences on the high street – can also take the biggest events and experiences to regional towns and cities. They offer a chance to improve access to the arts and culture as well as entertainment and sport as high streets continue to evolve. The retail industry is waking up to the potential in this area and how venues slot into the future of town centres and a more diverse make-up of goods and services. Hammerson recently announced that virtual reality firm Sandbox VR had selected Bullring & Grand Central, Birmingham’s largest shopping centre, for its biggest site and first UK location outside London. It’s a good example of how destinations are changing, and how different uses and experiences can support traditional retail and food and beverage. Reimagining sports and entertainment venues as technology-powered, multi-use platforms opens up significant opportunities for investors and developers. While there has already been a steady rise in interest, as we continue to navigate this period of economic flux there is no doubt that more people will be drawn to digitally supported venues and the potential to diversify, unlock new revenue streams and drive footfall and investment. Alex Thomas is regional design director for sports and entertainment at HKS Photo from HKS