The investment is notable given the TV distribution crisis hitting dozens of local sports teams around the country.
Monumental Sports & Entertainment, the owner of the Washington Wizards, Mystics and Capitals and Capital One Arena, is planning a major rebrand and investment in NBC Sports Washington, the regional sports network it fullyhitting dozens of sports teams around the country. It also gives Monumental the resources needed to create its own local sports streaming app, which it plans to launch next year.
Construction is underway at Capital One Arena in downtown Washington, where Monumental plans to build out a two-story production facility that includes two full-scale studios, two smaller studios and six control rooms. The investment matters, Leonsis argues, because far more people engage with its teams on television and digitally than in person.While 3 million+ fans annually come to Capital One Arena to watch games in person, tens of millions more consume the competition on television or digitally and half the games are on the road," he said.
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