Professional Documents
Culture Documents
Era 5
Era 5
Era 5
this era executive chairman Erik Anderson was really interested in branching more into the
global and entertainment industry. During the year 2016 Topgolf actually decided to reorganize
its company by creating three new divisions known as Topgolf, Topgolf international and
Topgolf media which all fell under the Topgolf entertainment group. So, to further elaborate on
those, the Topgolf divisions main focus was to cater to U.S and U.K venues. Topgolf
partnerships. Topgolf managed to secure (joint venture) partnerships with Australia, Mexico,
Europe and much more. As for Topgolf media they wanted to expand into digital content,
sponsorships and more partnerships. For instance, Topgolf entered the esports market by
creating a virtual reality game called Proputt to give consumers that at home golfing
experience. So now I’m going to explain the major developments throughout the years, in 2016
Topgolf purchased Protracer from the Swedish and renamed it to Toptracer which is a ball
tracking technology that provides the balls flight path and displays the results on the screen,
this is used in the golfing bays at each venue and also used during live professional golfing
broadcasts. Topgolf also maintained a $300 million investment deal from their partnership with
Providence Equity (global investment firm that specializes in sports media companies). In 2017
Topgolf opened The Cowan which is a part of the venue located in Nashville, Tennessee. The
Cowan is a concert hall that hosts live performances from artists. So, these first few
developments really allowed them to take that first step into the entertainment industry. Also,
the first Topgolf crush event took place in 2017. Topgolf crush is a popup event that takes place
in sport stadiums where they set up targets and bays throughout the field (so basically people
are allowed to host events and make reservations at these popup events) (tournament range).
In 2018 Topgolf developed their own music tv series that was hosted by celebrities (Who will
rock you? New band groups would compete for a grand prize and be offered a label deal) and
since then Topgolf has expanded their tv show series throughout the years. The first Topgolf
swing suite was also created in 2018 in Atlantic city. A Topgolf swing suite is basically a golf
simulator lounge that you can book with a group of people and play virtual golf on a big screen
and order food and drinks in their own private suite. In 2019 Topgolf entertainment is still
expanding its divisions. So, in 2019 the professional golf tour (golf tournaments) also known as
PGA obtained toptracer and uses it for all their golf broadcasts, this allowed Topgolf to now be
known as the manufacturer of golf due to organizations wanting to use their technology. The
first Topgolf lounge was established in 2019 which consisted of a bar and restaurant that also
had virtual swing suite golfing bays. Topgolf also expanded their tv series by making a
partnership with Will Smith to produce a new comedy series on YouTube. By the end of 2019
Topgolf was considered the lead driving range company. Lastly, in the year 2020 Topgolf
international has made a publicized offering with certain banks that would allow the company
to be worth $4 billion dollars (this would allow Topgolf to seek capital in order for them to open
more venues, a private company becomes public by selling its shares on a stock exchange). Due
to the expansion of Topgolf the chief executive officer Dolfe Berle is currently sitting in $525
million in outstanding debt. With that being said Topgolf has continued to expand its business