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Immersive technology company Cosm has rapidly expanded its sports rights as it seeks to create a new category in the experience economy.

Why it matters: Cosm's Sphere-like venues, which it calls "shared reality," are one of the few experience economy companies that cater to hardcore sports fans.

How it works: Cosm's venues combine watching the game on TV with the experience of being on the field.

The company's venues, which are specifically built to house Cosm's technology, feature an 87-foot diameter 12K+ LED dome that wraps around the venue.

Cosm currently has venues in Los Angeles and Dallas, and its next two will be in Atlanta and Detroit.

Cosm uses a mix of its own proprietary technology and existing TV feeds. One of Cosm's subsidiaries, Evans & Sutherland, is the world's largest planetarium company.

The big picture: Cosm has been adding sports rights in bunches over the past few months, which have grown its profile.

Within the last month, Cosm has signed rights deals with the NFL to carry all of its remaining national TV games this season, as well as a separate deal with CBS for its Sunday afternoon NFL games.

Last week, it extended its deal with CBS to include its coverage of English Football League soccer; the first match was broadcast on Tuesday and featured Wrexham.

Cosm also has deals for college football, NBA, UFC and MLB.

Zoom out: Cosm CEO Jeb Terry is confident that live entertainment, which has boomed during the post-pandemic era, will continue to grow more immersive.

"Our goal is to always be the venue of now. I never want to go obsolete," he tells Axios in an interview.

Catch up quick: Cosm raised over $250 million in July and is valued at $1 billion.

Its investor list includes former Milwaukee Bucks owner Marc Lasry, Cleveland Cavaliers owner Dan Gilbert and David Blitzer, co-managing partner of the Philadelphia 76ers and the New Jersey Devils.

What's next: Terry hopes to announce as many as four additional venues in the coming months.

"We're gonna open multiples a year as we go forward, because we have the technology, we have the team, we have the content and all these opportunities that we've been building for the past five years to now deploy," he says.

Shared reality firm Cosm is growing its sports portfolio

Cosm's Sphere-like venues, which it calls "shared reality," are one of the few experience economy companies that cater to hardcore sports fans.

Photo illustration of Jeb Terry next to a photo of fans cheering a screen playing a football game on a large screen.

Cosm CEO Jeb Terry (left) and Cosm LA (right). Photo illustration: Axios Visuals. Photos: Courtesy of Cosm 

Immersive technology company Cosm has rapidly expanded its sports rights as it seeks to create a new category in the experience economy.Why it matters: Cosm&#x27;s <a class="gtmContentClick" data-vars-link-text="Sphere" data-vars-click-url="https://www.axios.com/2023/07/08/sphere-las-vegas-venue-shows" data-vars-content-id="9d6b0aaf-c7ee-4aac-ba29-715f6cb2fb7f" data-vars-headline="Shared reality firm Cosm is growing its sports portfolio" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/07/08/sphere-las-vegas-venue-shows" target="_self">Sphere</a>-like venues, which it calls &quot;shared reality,&quot; are one of the few <a class="gtmContentClick" data-vars-link-text="experience economy" data-vars-click-url="https://www.axios.com/2021/09/23/investors-pour-millions-vr-experience" data-vars-content-id="9d6b0aaf-c7ee-4aac-ba29-715f6cb2fb7f" data-vars-headline="Shared reality firm Cosm is growing its sports portfolio" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2021/09/23/investors-pour-millions-vr-experience" target="_self">experience economy</a> companies that cater to hardcore sports fans.

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Shared reality firm Cosm is growing its sports portfolio

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