Panasonic Corporation of North America and AEG have entered into a long-term agreement that redefines conventional business sponsorships. Under the multi-tiered sponsorship agreement, Panasonic will be a 'Founding Partner' (one of eight) of L.A. LIVE, the AEG owned and operated sports, entertainment and residential district in downtown Los Angeles that includes Nokia Theatre L.A. LIVE, Club Nokia, Nokia Plaza, The GRAMMY Museum, Regal Cinemas and The Ritz Carlton and JW Marriott Hotels. The agreement also names Panasonic as a 'Founding Partner' (one of ten) of STAPLES Center, also owned by AEG, beginning in August, 2009.
The agreement will benefit sports and entertainment fans who will attend events at the 'Panasonic Powered Properties' by enabling a broad infusion of Panasonic System Solutions Company technologies. Among them will be Panasonic's i-Pro digital video surveillance solutions, including IP-based network management and control, cameras, network video recorders (NVRs) and servers. Super Dynamic III (SDIII) color PTZ (pan, tilt and zoom) cameras for weatherproof outdoor and indoor applications will provide high-quality, clear images with 128x dynamic range. The digital video equipment will be integrated with an existing analog video surveillance system from Panasonic to create a hybrid system that expands surveillance capabilities while protecting the value of previous technology investments.
In addition to the use of digital surveillance and other Panasonic technologies to improve entertainment, education, safety, convenience and the environment, the new business agreement includes extensive cross sponsorship opportunities as well as product integration for Panasonic within AEG owned or promoted properties and assets within North America.
"During this time of economic hardship that is affecting so many aspects of business and everyday life, this exclusive and structured partnership between Panasonic and AEG is designed to stimulate business for a multitude of companies beyond the principal parties, while also bolstering consumer confidence," said J.M. Allain, President of Panasonic's System Solutions Company business unit.
"Panasonic presented AEG with a total solution that addresses all of our technology needs, and that fulfills our commitment to providing a live entertainment experience for the millions of guests who come to L.A. LIVE for the best in sports, music and other live events," said Timothy J. Leiweke, President and Chief Executive Officer of AEG.