Latest / Bloomberg Intelligence / Russell Coutts on Improved Televising of America's Cup (Audio)

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Russell Coutts on Improved Televising of America's Cup (Audio) · Bloomberg Intelligence

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  Speaker 1: breaking newstas gomb Bill Maloney, Charlie all right, thank you
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  Speaker 1: very much, Bill Maloney, and do here live breaking news
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  Speaker 1: business flash where you can find. I'll be earnline down
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  Speaker 1: in the down unwinding down in the Islands, as we
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  Speaker 1: continue our special live broadcasts on taking Stock, Elbow Beach,
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  Speaker 1: Bermuda and Ocean Front on Cleveland, Classic Style and contemporary Luxury. Well,
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  Speaker 1: big event for Bermuda next year, and that's the thirty
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  Speaker 1: America's Cup right here in Bermuna. We sat down with
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  Speaker 1: religion sailing legend, I should say, Sir Russell Coots. He's
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  Speaker 1: the CEO of the America's Cup event authority, the a
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  Speaker 1: c e A. He discussed the Cup held last week
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  Speaker 1: in New York and changes in televising the sport to
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  Speaker 1: make it more accessible. As Bermuda gears up for the
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  Speaker 1: America's Cup, he also talked about his own background and
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  Speaker 1: how he got started in this amazing sport. I grew
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  Speaker 1: up by the water in New Zealand and was able
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  Speaker 1: to access that in a fairly free way, and then
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  Speaker 1: moved on to competition, went to the Olympic Games. It
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  Speaker 1: was fortunate to win a middle at the Olympics, and
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  Speaker 1: then moved on into America's Cup racing where I've had
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  Speaker 1: lots of great experiences with a lot of teams and
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  Speaker 1: then and then currently working as the event executive. That's
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  Speaker 1: in many ways one of the most exciting things that
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  Speaker 1: I've done because of what we're doing in the sport
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  Speaker 1: now with bringing the racing in close to the shore,
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  Speaker 1: making it more available for the fans and more accessible
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  Speaker 1: for the fans to see. It's really exciting times and
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  Speaker 1: our sport. You are CEO of the America's Cup Event
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  Speaker 1: authority organizing body for the thirty's America's Cup now just
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  Speaker 1: wrapped up in New York. Was the first time the
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  Speaker 1: race was held here since nineteen twenty. What brought it
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  Speaker 1: bout to New York. What makes New York special and
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  Speaker 1: how does that set you up for the World Cup
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  Speaker 1: in Bermuda next year. Well, New York has a tremendous
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  Speaker 1: history with the America's Cup. In fact, it it really
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  Speaker 1: started there with a group of prominent New Yorker is
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  Speaker 1: challenging the best of the British fleet, winning that race
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  Speaker 1: and then bringing the event back to New York and
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  Speaker 1: actually hold it for a hundred and thirty two years.
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  Speaker 1: So it was exciting to bring it back there, and
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  Speaker 1: of course it's it's an iconic city. And in some
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  Speaker 1: way the modern and boats allow us to do that
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  Speaker 1: as well. Because the modern boats are faster, they are
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  Speaker 1: shallow and draft win that it requires much depths so
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  Speaker 1: you can race them in an area like the Hudson
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  Speaker 1: and bringing them close to the public. So all of
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  Speaker 1: those factors combined allowed us to once again take a
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  Speaker 1: look at bringing it back to New York. If people
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  Speaker 1: come to see the boats that will race in the
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  Speaker 1: America's Cup, they could be forgiven for wondering are they
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  Speaker 1: really yachts because they look like something completely different. Now,
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  Speaker 1: describe the boats themselves, what they're made of, and what
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  Speaker 1: the sales are made of and how they have changed. Well,
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  Speaker 1: the boats are very high speed boats. They are instead
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  Speaker 1: of the conventional sail on the boat, for example, they
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  Speaker 1: have a wing sale much the same as an airplane wing,
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  Speaker 1: and that provides the power in the boat. So these
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  Speaker 1: boats can do well. The boats that raced in you
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  Speaker 1: Or can do up to forty miles per hour. The
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  Speaker 1: actual boats that are racing in the America's Cup can
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  Speaker 1: do up to fifty miles per hour. So they are
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  Speaker 1: very very high speed boats and powerful boats, and the
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  Speaker 1: technology is absolutely incredible on them. It's been a big
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  Speaker 1: change in the America's Cup, and I think the thousands
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  Speaker 1: of fans that came out some would say they were
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  Speaker 1: close to a hundred thousand fans on each day that
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  Speaker 1: came out to watch. They could see that it's a
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  Speaker 1: much more thrilling race than than what it used to
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  Speaker 1: be in the past. So I think those changes have
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  Speaker 1: been They're certainly exciting for the modern day racer, but
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  Speaker 1: also the people watching it. So you want to make
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  Speaker 1: it more exciting. You want to bring the viewer watching
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  Speaker 1: television into the race. This is going to raise the
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  Speaker 1: commercial value of this exciting event. The America's cup. But
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  Speaker 1: what about the money? How much what does it cost
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  Speaker 1: to set up an event like this and what do
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  Speaker 1: the sponsors expect to see in return. Well, it's interesting
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  Speaker 1: that you mentioned that the sponsorship would return because with
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  Speaker 1: our pushed towards making it a more understandable television product
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  Speaker 1: and introducing the graphics on top of super imposing them
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  Speaker 1: on top of the live video images, we're able to
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  Speaker 1: now deliver our global sponsors at least seven times greater
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  Speaker 1: than their initial return on their initial investment. So that's
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  Speaker 1: incredible when you consider where we were in the past.
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  Speaker 1: We really think we're delivering very good value for those partners,
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  Speaker 1: and as a result of that, we've got over thirteen
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  Speaker 1: global partners involved and then also seven domestic partners major
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  Speaker 1: partnerships involved, as well as what we call our a
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  Speaker 1: c Endeavor, a youth program where we have over twenty
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  Speaker 1: partners involved. So there's been a tremendous shift where all
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  Speaker 1: of a sudden, this has become a property that once
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  Speaker 1: again the commercial sector are looking to partner with a
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  Speaker 1: fairly significant way. So we've had something like a three
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  Speaker 1: percent uplifting television broadcast revenues as well as a tremendous
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  Speaker 1: uplift in terms of our partnership sales. That was sailing legend.
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  Speaker 1: Sir Russell Coots. He's the chief executive of the America's
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  Speaker 1: Cup Event Authority. They are the organizing body for the
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  Speaker 1: thirty five America's Cup that will take place next year
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  Speaker 1: right here in Bermuda. And I think we should come
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  Speaker 1: back and cover that. I have no problem with that
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  Speaker 1: at all. And you know that over of the days
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  Speaker 1: in Bermuda they have wind that would be perfect for
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  Speaker 1: the America's Cup. Maybe we'll see it on television too.
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  Speaker 1: I like that. It's a great idea. Maybe get you
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  Speaker 1: on the boat. Oh, I like that even better. All right,
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