Panasonic Signs Deal to Supply Technologies at L.A. Live
Panasonic System Solutions Co. (PSSA) has struck a major sponsorship agreement with sports and entertainment presenter AEG to supply security cameras and other technologies at L.A. Live, a $2.5 billion sports, entertainment and residential district in downtown Los Angeles.
The agreement was announced by J.M. Allain, president of PSSA, and AEG management, during a press conference Wednesday at the Nokia Plaza, near the Staples Center.
The multitiered deal names Panasonic as a “Founding Partner” of Staples Center and L.A. Live, an AEG-owned and operated mega complex that includes Nokia Theatre, Club Nokia, Nokia Plaza, the Grammy Museum, Regal Cinemas, an ESPN broadcast facility, ESPNZone, the Ritz Carlton and JW Marriott hotels, which are not yet open, and a variety of restaurants.
Terms of the deal were not disclosed, however, Panasonic will be one of several sponsors committing to multimillion-dollar contracts over several years. Others include Coca-Cola Co., American Express Co. and Wachovia Corp.
The companies plan to use L.A. Live to unveil and showcase Panasonic products and solicit consumer feedback on them. During the announcement, Allain said his firm will also host clients at L.A. Live to demonstrate the possibilities of Panasonic technologies.
“This isn’t a sponsorship, it is a partnership in building the greatest venue in the world,” Allain said. “This will be our showplace. It will be a great, beneficial relationship for both of us.”
Panasonic will supply its security cameras and high-definition TV screens throughout the entertainment complex and be involved in building out AEG’s broadcast facilities using its HD equipment. The company will also install an 8,000-square-foot screen, which the two companies said is the largest in North America.
The Panasonic deal will also put its products in other AEG venues, including 12 that are planned or completed in China and Europe. “As AEG goes, so goes Panasonic,” AEG President Timothy Lieweke said. “Panasonic will be with us as we expand around the globe.”
SECURITY SALES & INTEGRATION will feature an exclusive in-depth interview with Allain in its February issue.
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