The Convergence of Real Estate, Media and Technology

The Convergence of Real Estate, Media and Technology

(NewsUSA) - The idea to build giant LED screens is not a new concept.

Historically called "Megatrons or Jumbotrons," they have been used to generate buzz and a visual identity for properties and in some cases to generate the majority of the revenue for the buildings they are affixed to.

Nowhere has this been more evident than in Times Square. Like the neon signs and painted wallscapes before them, these LED signs were the beginning of a new era, a generational embrace of new technology affixed to hundred-year-old bricks, windows and recycled steel skeletons whose entire purpose has been to engage and elicit a response, a feeling and a call to action from the world around them.

The recent trend of working from home that was accelerated by the COVID-19 pandemic clearly illustrates the need for fluidity in the way corporations, individuals and landlords have to work together to promote and ensure health, safety and satisfaction within commercial and retail real estate environments.

An example of a project that is currently under construction in New York that is embracing this concept, is 1568 Broadway, "TSX."

The project includes three digital and two static signs on the fa?ade, one of which is being built with an open-air stage overlooking Times Square, as well as full audio capabilities in order to make it the new epicenter of Times Square, where something equally iconic as the ball drop can occur year-round.

According to the development team, "TSX Broadway will provide a single brand with the most powerful marketing tool in the world, the most technologically advanced signage and lighting package in New York City. There will be an 18,000-square-foot LED sign wrapping the podium, and a full-building fa?ade lighting system that will activate the entire 46-story tower as a branded beacon."

Imagine a commercial tenant experience where you are able to wake up in one of several overnight suites, an iPad or other connected device enabling you to operate different functionalities in your room, book a time at the fitness center and order breakfast, all before heading to your office.

At lunch, you head out and are constantly engaged both consciously and subconsciously by lighting, sounds, smells, images, and digital messages in the elevators, lobbies and as you emerge outside on the building's fa?ade itself.

All of this coupled with beacon technology, geo-fencing and rapidly progressing programmatic media capabilities ensure that tenant engagement will be even more consistently and intuitively woven into the fabric of our daily lives as we return to the new post-COVID normal.

With all these layers of technology working synchronously with brick and mortar, brands and sponsors will be better able to monitor, track, modify and manage media campaigns.

This immersive and experiential centered approach to real estate can be used in all types of real estate environments, utilizing technologies that prompt a shift away from the "look at me" effect and towards engagement, that is, "how does it make me feel?"

The time is now to begin integrating the various technologies at our disposal simultaneously.

By operating this type of real estate model, implementing and innovating rapidly across vertical technology sectors, we can collapse the time table from conceptual to the new normal and write the narrative for how real estate, media, and technology cohabit in the world of our future.

 

Matthew A Knee is president of GCG Media Services.

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