New technology from startup ventures is transforming the sports industry. The mission of this series will be to introduce startup companies in the sports technology space to a broader audience and allow CEO’s of new ventures to tell their story.
Company: Block Party Suites
CEO: Adam Ward
1.What is your elevator pitch?
Block Party Suites creates pop-up fan communities at sports and entertainment venues by delivering an enhanced experience and unique sponsorship platform.
2. Problem & Solution
Problem:
The cost of producing sports and entertainment events is increasing as the modern day fan continues to look for an upgraded experience at events.
Solution:
By creating pop-up fan communities with a customizable and mobile platform, we enable venues to utilize their real estate to better engage and monetize their customer base’s growing appetite for premium services and technology integration.
3. Market – your target market and the overall market
Tailgating Market: $12B
Sports Sponsorship: $15B
Music Festival Sponsorship: $1.2B
4. Business Model – how do you make money?
We generate capital through three integrated revenue streams. Our initial revenue stream consists of leasing our suites to sports and entertainment properties. Our suites are standard, yet customizable, allowing the units to have a high utilization rate at a variety of outdoor events. Within the next year we will integrate LED signage into our fan communities with the intent of engaging our partners in sponsorship revenue share agreements for the use of the signage. As we scale we plan to provide wifi to our communities and build a custom mobile application with POS functions, social integration, and streaming advertising.
5. Management Team – with titles
Adam Ward – Co-Founder & CEO
Steven Gilman – Co-Founder & COO
6. What do you want the audience to know about your venture
The original concept for Block Party Suites was a mobile hotel but through customer discovery the business pivoted to what it is today. The hotel concept could potentially be a product extension for BPS in the future but for now it has been sidelined.
Bonus Question: If you were stuck on a desert island with any three athletes, who would they be and why?
Johnny Football (Manziel) because the island needs a party.
Jordan Spieth because we need to eat and that guy can bag birdies with the best of them.
Alex Morgan to motivate the search and rescue team.
Grant Son executed this interview with Adam.
Grant is a proven innovator and champion in both large corporations and entrepreneurial environments. Professional experience includes serving as CEO of two digital ventures – SchoolSports (top-10 sports website acquired by ESPN) and Greater Good Ventures – as well as senior roles with iconic sports brands such as CBS, the NFL, and Sports Illustrated. MBA in finance from Columbia and BA from the University of Pennsylvania. Thirty years of experience, including 20 years in digital media. Board member and advisor to established companies and more than 20 start-up ventures.
Attended every major sporting event, including six Super Bowls, World Cup Soccer, World Series, NBA Finals, Stanley Cup Finals, championship boxing, and two Olympics.