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Will Verizon's Partnership With MSG Family Boost VZ Stock?

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Verizon Communications, Inc. (VZ - Free Report) recently extended its partnership with Madison Square Garden Entertainment Corp. (MSGE - Free Report) , Madison Square Garden Sports Corp. (MSGS - Free Report) , and Sphere Entertainment Co. (SPHR - Free Report) — collectively known as the MSG Family of Companies. The initiative positions Verizon as the official mobile wireless partner across the MSG Family of Companies, encompassing a rich portfolio of renowned sports and entertainment venues. It promises to provide fans and customers with enhanced experiences, exclusive perks and cutting-edge connectivity powered by Verizon's 5G technology.

What VZ-MSG Family Partnership Comprises

The partnership includes top-tier venues like New York’s Madison Square Garden, Radio City Music Hall, The Theater at Madison Square Garden, the Beacon Theatre, The Chicago Theatre and the premium Sphere in Las Vegas. In addition, the MSG Family of Companies boasts some of the top franchises in professional sports, including the New York Knicks, New York Rangers and the Westchester Knicks. Fans of these teams get to stay connected and enjoy enhanced fan experiences via VZ’s advanced 5G technology. The partnership also extends to live shows — the Christmas Spectacular Starring the Radio City Rockettes and MSG Networks.

A key aspect of the expanded partnership is the introduction of Verizon Access, a premium platform that offers Verizon customers exclusive benefits. Through Verizon Access, customers can get tickets for live events, concerts and comedy shows at multiple MSG venues. Also, fans in Las Vegas can enjoy early access to shows at Sphere along with Sphere’s original content. For music lovers, comedy fans and live performance enthusiasts, Verizon Access’s leading-edge feature will enhance how people experience live events at these iconic venues.

As part of this partnership, two exclusive Verizon-branded hospitality spaces will be designed within Madison Square Garden — Verizon Club and Verizon Lounge. By leveraging VZ’s 5G connectivity, VZ aims to elevate the in-venue experience for chosen customers at these venues.

VZ, Sphere Foster Innovation and Immersive Experiences

Sphere in Las Vegas redefines live entertainment by combining art, technology and sports to create an immersive environment. Verizon officially collaborated with Sphere on July 4, 2024, when the company presented the “Sphere Fourth of July Celebration” a remarkable 10-minute light show on the venue’s LED exterior – Exposure. The spectacle featured 500 drones and marked the launch of new Exosphere features sponsored by Verizon, such as “XO Stream” and “XO Audio.”

XO Stream offers a live stream of the Exosphere that fans can watch anytime, anywhere. This allows people to witness Sphere’s light shows and other visual content online via thesphere.com or YouTube. With the launch of XO Stream, Verizon has ensured that the Sphere experience is accessible not only to attendees in Las Vegas but also to audiences around the globe.

XO Audio syncs custom audio with the Exosphere’s visual content, creating a fully immersive experience for fans within the venue’s property and those tuning in online via XO Stream. These integrations reflect Verizon’s commitment to using cutting-edge technology to bolster live entertainment.

Will This Alliance Benefit VZ Stock?

This partnership between Verizon and the MSG Family of Companies is noteworthy as it represents a first-of-its-kind collaboration between a leading telecommunications company and one of the renowned names in global entertainment and sports. It is set to raise the bar for fan experiences, bringing together premium access, exclusive content and the latest technology to create unforgettable moments for audiences across New York, Chicago, Las Vegas and beyond.

Verizon gains the opportunity to connect with millions of fans each year, both in-venue and digitally, potentially increasing user engagement on its platform. With a growing subscriber base, VZ is likely to see an expansion in its top-line performance and business pipeline. Healthy revenue generation and business pipeline are expected to favor its share price movement.

VZ’s Zacks Rank and Stock Price Performance

VZ currently carries a Zacks Rank #3 (Hold). Shares of VZ have gained 40.5% over the past year compared with the industry’s growth of 45.5%. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
 

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