SoFi Stadium and Hollywood Park Market Research Report

Background

Overview

SoFi Stadium and Hollywood Park represent a transformative development in Inglewood, California, encompassing a 298-acre sports and entertainment complex. The centerpiece, SoFi Stadium, serves as the home for the Los Angeles Rams and Los Angeles Chargers of the National Football League (NFL). Adjacent to the stadium, Hollywood Park is a mixed-use development featuring retail spaces, residences, office areas, and entertainment venues. The project is spearheaded by Los Angeles Rams Owner/Chairman E. Stanley Kroenke.

Mission and Vision

The mission of SoFi Stadium and Hollywood Park is to create a world-class destination that seamlessly integrates sports, entertainment, retail, and residential experiences. The vision is to establish a dynamic environment that caters to a diverse audience, offering unparalleled experiences in the heart of the Los Angeles metropolitan area.

Primary Area of Focus

The primary focus is on delivering state-of-the-art facilities for sports and entertainment events, complemented by a vibrant retail district, modern residential communities, and innovative office spaces. This holistic approach aims to foster a thriving community and become a landmark destination in Southern California.

Industry Significance

As one of the largest urban mixed-use developments in the Western United States, SoFi Stadium and Hollywood Park set a new standard for integrated sports and entertainment complexes. The project's scale and ambition underscore its potential to influence future developments in the industry.

Key Strategic Focus

Core Objectives

• Integrated Development: To create a cohesive environment that blends sports, entertainment, retail, and residential spaces.

• Technological Innovation: To implement cutting-edge technologies that enhance guest experiences and operational efficiency.

• Community Engagement: To foster a sense of community through diverse offerings and inclusive initiatives.

Specific Areas of Specialization

• Event Hosting: Providing venues capable of hosting major sports events, concerts, and other large-scale gatherings.

• Retail and Hospitality: Offering a curated mix of retail outlets, dining options, and hospitality services.

• Residential and Office Spaces: Developing modern living and working environments that attract a diverse demographic.

Key Technologies Utilized

• Digital Infrastructure: Leveraging cloud computing and data analytics to optimize operations and personalize guest experiences.

• Immersive Media: Incorporating advanced media technologies, such as the Infinity Screen by Samsung, to deliver immersive event experiences.

• Connectivity Solutions: Implementing robust 5G networks and Wi-Fi systems to ensure seamless connectivity for visitors.

Primary Markets or Conditions Targeted

• Sports Enthusiasts: Catering to fans of the Los Angeles Rams and Los Angeles Chargers, as well as attendees of major sporting events.

• Entertainment Seekers: Attracting concert-goers and theater audiences with a variety of performances and shows.

• Retail Shoppers: Appealing to consumers seeking a diverse shopping experience with a mix of local and international brands.

• Residents and Professionals: Offering modern living and working spaces to individuals and businesses in the Los Angeles area.

Financials and Funding

Funding History

The development of SoFi Stadium and Hollywood Park is a privately funded project, with an estimated construction cost of approximately $5 billion for the stadium alone. The broader Hollywood Park development, encompassing retail, residential, and office spaces, is part of a $10 billion private investment.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

The project is primarily funded by E. Stanley Kroenke, the owner of the Los Angeles Rams and Los Angeles Chargers, through his company Kroenke Sports & Entertainment.

Intended Utilization of Capital

The capital is allocated towards the construction of SoFi Stadium, development of the Hollywood Park mixed-use complex, and the implementation of advanced technologies to enhance guest experiences and operational efficiency.

Pipeline Development

Key Pipeline Candidates

• SoFi Stadium: A 3.1 million-square-foot facility serving as the home for the Los Angeles Rams and Los Angeles Chargers.

• Hollywood Park Retail District: An 890,000-square-foot area featuring a curated mix of retail outlets and dining options.

• Residential and Office Spaces: Modern living and working environments designed to attract a diverse demographic.

Stages of Development

• SoFi Stadium: Completed and operational since September 2020.

• Hollywood Park Retail District: The first phase of 500,000 square feet is scheduled to open in spring 2023, with the full 890,000 square feet planned for future phases.

• Residential and Office Spaces: Ongoing development with phased construction and occupancy.

Target Conditions

• Sports Events: Hosting NFL games, including Super Bowl LVI in 2022, and other major sporting events.

• Entertainment: Providing venues for concerts, theater performances, and other live events.

• Retail and Hospitality: Offering a diverse shopping and dining experience to attract both local and international visitors.

• Residential and Office: Creating desirable living and working spaces in the heart of Inglewood.

Relevant Timelines for Anticipated Milestones

• Spring 2023: Opening of the first phase of the Hollywood Park Retail District.

• 2026: Hosting of eight FIFA World Cup matches.

• 2027: Hosting of Super Bowl LXI.

• 2028: Hosting of the Opening and Closing Ceremonies of the Olympic Games.

Technological Platform and Innovation

Proprietary Technologies

• Infinity Screen by Samsung: The largest videoboard ever created in sports, providing an immersive viewing experience.

• Ross Unified Venue Control Solution: Enables comprehensive control of production and delivery of immersive live event experiences.

• Cisco's IP Fabric for Media Infrastructure: Supports the only 4K HDR live production facility in America within SoFi Stadium.

• Verizon's 5G Ultra Wideband Network: Ensures capacity, speed, and coverage for fans, residents, and businesses.

• PAM Smart Navigation Platform: Assists in managing traffic and crowds, enhancing the guest experience.

Significant Scientific Methods

• Data Analytics: Utilizing advanced data analytics to track business performance and offer personalized recommendations to fans and guests.

• Cloud Computing: Employing cloud-based media workflow and optimization to power the largest video board in sports.

• Mobile Application Development: Creating a "personal concierge" app to help fans discover events, navigate the stadium, and access personalized offers.

Leadership Team

Key Executive Profiles

• E. Stanley Kroenke: Owner/Chairman of the Los Angeles Rams and Los Angeles Chargers, leading the development of SoFi Stadium and Hollywood Park.

• Jason Gannon: Managing Director of SoFi Stadium and Hollywood Park, overseeing operations and strategic initiatives.

• Skarpi Hedinsson: Chief Technology Officer, responsible for implementing technological innovations across the complex.

Leadership Changes

No significant leadership changes have been publicly reported.

Competitor Profile

Market Insights and Dynamics

The sports and entertainment venue market is characterized by high competition, with venues vying to host major events and attract large audiences. Technological innovation and unique guest experiences are key differentiators in this industry.

Competitor Analysis

• Allegiant Stadium: Home to the Las Vegas Raiders, offering a state-of-the-art facility with a retractable field and a capacity of 65,000.

• Levi's Stadium: Home to the San Francisco 49ers, featuring a capacity of 68,500 and a focus on sustainability.

• AT&T Stadium: Home to the Dallas Cowboys, known for its massive video board and hosting major events like the Super Bowl.

Strategic Collaborations and Partnerships

• Google Cloud: Partnered to power digital innovation and personalized fan experiences with cloud technology.

• Deloitte: Entered into a multiyear professional services sponsorship to enhance digital experiences across the complex.

• Live Nation: Partnered for exclusive booking of the 6,000-seat performance venue, enhancing entertainment offerings.

Operational Insights

Strategic considerations include maintaining a competitive position through continuous technological upgrades and enhanced guest experiences.