An American investment company that aims to “disrupt the live entertainment industry” has purchased the management group overseeing Mosaic Place and could offer more expertise, resources and guidance with venue operations.
In November 2021, Los Angeles, Calif.-based Oak View Group acquired Florida-based Spectra Venue Management Services and brought it under the company’s OVG Facilities division. The company re-branded that division in early 2022 under the OVG360 banner and now plans to offer services focused on driving value for clients in every aspect of the business.
The information about the purchase was contained in the 2021 Mosaic Place annual report that Spectra presented during the Aug. 22 regular city council meeting.
Ryan MacIvor, Spectra general manager, told the Express that this acquisition is “very positive” and “no major changes” would occur with how Mosaic Place — now the Events Centre, or Multiplex — is managed. The only adjustments that have occurred, he laughed, are the replacement of numerous Spectra logos throughout the building.
OVG360 is designed to offer expertise, resources and guidance with venue operations, such as hospitality and food services, booking and content development, private events, global partnerships, premium sales and integrated marketing solutions, a news release said.
Furthermore, this division also focuses on public safety, public health and sanitization, sustainable operations, parking and mobility services, customer service training, procurement support, project management services and retail development.
“Now that OVG’s acquisition of Spectra is complete, we can get down to the business of delivering an expanded, highly competitive set of services that anticipate and meet the evolving needs of our global client base,” Tim Leiweke, CEO of OVG, said in a news release.
“We’ll begin the important process of fully integrating the talented team at Spectra and bringing together our two organizations to create something truly extraordinary in the live events and entertainment industry.”
“Venues are incredible community assets, the very last town square, perhaps the remaining place where diverse people gather to laugh, to cheer, to sing, to dance, to dine, to conduct business, to protest, or to vote en masse,” said Chris Granger, CEO of OVG360. “As the needs and uses of these venues continue to evolve, we will be there, with our clients, leading the way.
“We will … provide our fans and our clients with extraordinary service, indelible memories, and easy confidence in knowing that we can again, and forever, gather safely.”
Founded in 2015, OVG specializes in real estate venue development and financing, sponsorship sales and partnership management, media and content, and buildings management and security, the news release said.
Furthermore, OVG has partnerships with prominent venues, including major league ballparks. It is also planning to build a $3-billion sports and entertainment district in Las Vegas, including a 20,000-seat NBA stadium.
Mosaic Place’s future outlook
The pandemic’s effects will continue to create new challenges and problems for the live event industry in 2023, MacIvor said in the annual report. Venue staff did a great job in 2021 navigating the ever-changing provincial COVID-19 protocols and health orders while pushing ahead with plans to re-open the building.
“… we are confident that over the next 12 months, we will see improvement over this past calendar year, and we predict that over the next 12 to 18 months, following conversations that we have had with concert promoters and event partners, that more and more events will return,” he continued.
Spectra continues to focus on working with the building’s tenants and community to provide a clean and safe, world-class sports and entertainment venue while offering exceptional customer service and products, MacIvor added. The company’s goal is to provide something for everyone, whether it’s sports, concerts or family and/or community events.
The next regular city council meeting is Monday, Sept. 12.
