Q&A talks to Anthony Iacovone, founder and CEO of New York mobile ad technology company AdTheorent, who recently acquired a majority stake in the New Britain Bees Atlantic League ball club.
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Q&A talks to Anthony Iacovone, founder and CEO of New York mobile ad technology company AdTheorent, who recently acquired a majority stake in the New Britain Bees Atlantic League ball club.
Q: Why did you decide to invest in the New Britain Bees? Is independent-league baseball bottom-line friendly?
A: Baseball has always been a big part of my life so investing in a ballclub has been a lifelong goal. Specifically the draw for me with New Britain was based on the legacy of 35 years of professional baseball and how loyal the fan base has been throughout the years. The abrupt move by the former team (Rock Cats) would have left a big hole in the community, which for me made it even more compelling and sort of a David vs. Goliath type of story. The Bees being an expansion team is similar to a startup in some ways, which is the environment I love to work within.
The business of baseball can be bottom-line friendly if done right. It comes down to providing a great family experience and great baseball to draw fans. The baseball in the Atlantic League is considered by some to be “AAAA” level, as 800-plus players have been acquired by Major League Baseball (MLB) over the years.
Q: Atlantic League President Rick White said your league is going to be where technology meets tradition and provides for unique fan experiences. How is that going to be accomplished?
A: We are investing a lot into the fan experience, resources and technology this year to make our games more memorable.
We took the time to listen to fans after last year. For example, we received feedback that our food could be improved, so we took action and decided to run our own concessions this year — the reviews have been great. Fans will see a lot more fun between innings with our promotions and music. We have invested in some really fun fan engagements on field and will be rolling them out over the next month. Technology is also a key for us — we are rolling out new Wi-Fi for fans and leading-edge baseball virtual reality.
We're also implementing mobile-device technologies that will allow for fans to engage during the game, including becoming part of the broadcast and providing redeemable offers at our concessions as well as outside retailers. For fans who can't make every game, we are trialing a first-of-its-kind “new angle broadcast” for Facebook and other social channels that will, among other things, include 30 camera angles (including umpire cams) and eventually allowing a user to decide how they want to watch the game.
Q: Can teams like the Bees afford to be technology innovators without the support of Major League Baseball? Does being independent make it harder or easier to achieve changes?
A: Being an independent team affords us a unique ability to try new things without the red tape within affiliated baseball. We can be nimble and deploy new things like our umpire cameras within weeks, which might have taken years within the MiLB (Minor League Baseball) structure. The Atlantic League has been a leader in many ways for things like pace of play and we are extending our showcase to include technology this year. While we may not have pockets as deep as affiliated teams, we are quite resourceful on deploying technology via sponsors and vendors who want to showcase their technologies in a stadium environment.
Q: How much of a factor is your competition in Hartford? You're not competing in the same league, but you are competing for the same fans. How are the early attendance numbers compared with last year?
A: Our attendance this year so far has exceeded that of last year. We are seeing an increase in all areas, including groups, day of game walk-ups and special events.
Hartford, in our opinion, isn't a big factor in our attendance growth this year. We did some research around the fan base in Hartford and we are seeing them draw a 25 to 35 percent Hartford work-centric demographic. We see our sweet spot within families and seniors.
