Elevate Sports Ventures, a best-in-class sports and entertainment consulting agency, and renowned technology firm, Recentive Analytics, have entered into a joint venture to empower sports teams, leagues, venues, and properties with industry-leading predictive software solutions including, Precast®.
The ‘Elevate Sports Ventures’ stated that Precast’s more than 30 clients across seven global, professional sports leagues – including the National Football League (NFL) team Tampa Bay Buccaneers, the next-generation content company Thrill One Sports and Entertainment, the National Basketball Association (NBA) team Oklahoma City Thunder, the National Hockey League (NHL) teams Dallas Stars, Seattle Kraken, and the Major League Soccer (MLS) franchise St. Louis City SC – utilize the proprietary machine-learning software for revenue-driving, predictive solutions. Through its immense data resources, unmatched 98 percent-accurate and proprietary machine-learning models, Precast is the most powerful predictive platform in the live sports and entertainment industry. The new joint venture between Elevate and Recentive will additionally develop new, artificial intelligence (AI)-powered software solutions for ticketing.
Santa Clara (US)-based Elevate Sports Ventures is a best-in-class sports and entertainment consulting firm, providing proven, innovative solutions to organizations across the global sports and entertainment landscape. Elevate taps into the extensive resources, relationships and expertise of its partners to innovate and execute comprehensive strategies and solutions in Venue Renovations, Sales and Marketing, Stadium Licenses, Premium Ticketing, Corporate Hospitality, Customer Research, Strategy and Analytics, Sales Training, and more.
Formed in partnership between the NFL team San Francisco 49ers and the American sports and entertainment company Harris Blitzer Sports & Entertainment (HBSE) in 2018, Elevate welcomed Oak View Group (OVG), Ticketmaster and Live Nation as partners in June 2018.
Recentive Analytics is a leading software provider across the sports, entertainment, broadcast, scheduling, and retail industries developing proprietary machine learning technology to optimize business operations. Recentive’s extensive client base includes the National Football League, CBS, the United States Tennis Association, Arthur M Blank Sports and Entertainment, and the Major League Baseball team (MLB) team Boston Red Sox.
The ‘Elevate Sports Ventures’ further stated that Precast will fuel Elevate Insights, Elevate’s data-driven strategic consulting arm, in its efforts to help clients accurately price, package and market premium hospitality offerings to fans. Dynamic Pricing Partners, Elevate’s industry-leading pricing, analytics and ticket distribution technology company, will utilize Recentive technology to power its secondary market pricing platform, enabling partners to optimally and autonomously price ticket inventory across all distribution channels.
The Pac-12’s University of Southern California Athletics Department (US) is one of the first in the university space to select and utilize Precast’s software offerings following the formation of the joint venture.
Said Al Guido, CEO and Chairman of Elevate Sports Ventures, “We believe our Elevate Insights division, powered by our current technology and this bespoke software, alongside the unparalleled ticketing intelligence and data from equity partners Live Nation/Ticketmaster, make us one of the most progressive data and software-driven consulting firms in the industry.”
Said Andy Tabrizi, Founder and CEO of Recentive Analytics, “We continue to build leading technology to solve our clients’ most complex challenges and enable them to make better, faster and optimized decisions every day. We’re looking forward to expanding that vision with this partnership with Elevate Sports Ventures.”
Stated Brian M. Byrnes, Oklahoma City Thunder Senior Vice-President, Sales and Marketing, “For almost a decade our Sales, Service, Strategy, and Analytics Departments have leaned heavily on Precast to understand and optimize our opportunities. Precast has been central to us driving millions of dollars in incremental revenue while enabling our organization to stay a step ahead of fan behavior and our service team to most efficiently deploy resources. Precast has been a crystal ball throughout an ever-changing landscape and continues to empower us to make the best decisions for our fans.”
Utilizing Precast’s proprietary, machine-learning technology, Elevate Insights clients will have access to best-in-class predictive data to inform revenue maximizing decision-making, including but not limited to:
- Ticket Utilization Forecasts/Attendance Predictions: Precast projects account level and overall attendance in real-time to enable sports teams, venues, events, and properties to maximize ticket utilization, increase renewal likelihoods and optimize stadium and arena operations;
- Ticket Pricing Simulator: A real-time pricing simulator enabling sports and live event properties to forecast pricing scenarios on-demand, generating tens to millions in incremental ticketing revenue;
- Predictive Renewal Rates: Using first-party data, combined with its own data resources, Precast provides critical forecasting insights to maximize client renewal efforts, identify at-risk accounts in real time, identify optimal renewal timelines, and team performance impact and more; and
- Upgrade Propensity: Precast empowers ticket and premium sales managers to most effectively predict client upgrade potential and manage and direct sales campaigns, as well as pricing and package structure.
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