This week's newsletter showcases several key themes, including the surging demand for live events, must-watch TV, and the rise of multicultural spending power. These trends underscore the growing relevance of sports as a valuable asset class.
- NBCUniversal will bring social media influencers to Paris to cover the Summer Olympics, aiming to attract younger viewers less inclined to watch traditional live TV
- Influencers like Olivia Dunne, Haley Kalil, and Daniel Mac will create content for platforms such as Snapchat, YouTube, and TikTok, providing exclusive behind-the-scenes coverage and cultural insights
- Advertisers can collaborate with NBCU and the influencers for sponsored posts, and NBCU has already sold $1.2bn in advertising for the Paris Olympics, with expectations to set a new sales record
- The Phillies have the best record in the NL at 46-22, with local TV viewership up 30% over last year, averaging over 360,000 viewers per game, and increasing to 420,000 since mid-May
- Nationally, Phillies games are also popular, with two appearances on ESPN's "Sunday Night Baseball" averaging 1.67m viewers, a 10% increase from last year, and their recent London game against the Mets drawing 1.6m viewers on Fox
- High viewership and excitement are attributed to the playoff-like atmosphere at Citizens Bank Park, where the Phillies average 40,017 fans per game, the second highest in the MLB
- The USL Super League will stream its inaugural season on Peacock as part of an expanded partnership with NBCUniversal, including all regular season and playoff games in a multi-year deal covering 115 matches per season
- SportsEngine Play, NBC’s platform for youth and amateur sports, will also become the official home for USL League Two, USL W League, USL Youth, and USL academy and youth clubs, which will have access to NBC’s SportsEngine technology and ClubBuy program
- The USL Super League, starting in August with eight teams, has received Division One sanctioning from US Soccer, putting it on par with the NWSL, and aims to elevate women's soccer with exclusive coverage on Peacock
- The College World Series (CWS) is expected to break records again this year in both attendance and TV viewership, building on last year's record total attendance of 392,946 and highest-ever average TV audience of 1.65m viewers on ESPN
- This year's CWS features eight teams from the ACC and SEC, known for their strong baseball fan bases, with games held at the 24,000-seat Charles Schwab Field in Omaha
- The event's media rights are secured with ESPN through 2032 under a $920m extension, with the championship series potentially moving to ABC for greater exposure, while the CWS continues to draw significant interest as a bucket list event with around 3,000 season-ticket holders
- Fox will replace WWE SmackDown with a new Friday night college football package starting September 13, featuring Big Ten and Big 12 games, leveraging the expanded Big Ten conference to fill the slot vacated by SmackDown
- WWE SmackDown, Fox's third-biggest primetime show for adults 18-49, is moving to NBCUniversal's USA Network due to insufficient ad revenue despite high ratings, with ad spots for SmackDown priced significantly lower than similar-rated shows
- The new college football package aims to capitalize on underutilized Friday primetime slots, with early sales indicating higher ad rates than SmackDown, and will include notable games such as Rutgers-USC and Oregon-Michigan State, establishing Fox as a leader in live sports throughout the weekend
- Saturday’s Panthers-Oilers NHL Stanley Cup Final Game 4 averaged a 1.4 rating and 3.1m viewers on ABC, up 15% in ratings and 20% in viewership from last year's comparable game on TNT, TBS, and truTV, but down 43% and 33% from 2022's Game 4 on ABC
- The Panthers-Oilers series has shown double-digit viewership increases over last year’s all-cable series, despite overall declines compared to the 2022 Avalanche-Lightning series
- The Stanley Cup Final is averaging 3.1m viewers, up 25% from the first four games last year, while the ESPN/ABC portion of the playoffs averages 1.6m viewers, up 38% from last year and 10% from 2022
- The Florida Panthers' Learn to Play program is part of a broader initiative to tap into Florida’s rapidly growing Hispanic market, with nearly 30% of Floridians identifying as Latino, significantly higher than the national average of about 19%
- The NHL’s efforts to connect with Latino communities, where the league has not been traditionally proactive, are driven by the significant spending power of this demographic, making it an important target for growing the sport and increasing fan engagement
- The Panthers' success in these initiatives is reflected in the increased Hispanic and Latino participation in their programs and events, contributing to a broader strategy to leverage the spending power and enthusiasm of these communities for sustained growth and popularity of hockey in the region
- Sunday’s Chicago Sky–Indiana Fever game on CBS saw an average of 2.25m viewers, peaking at nearly 3m, marking the highest viewership for a WNBA game in 23 years
- The game’s popularity stems from the rivalry between Caitlin Clark and Angel Reese, with passionate fans from their college days now following them into the WNBA
- Caitlin Clark’s impact on WNBA viewership has been profound, breaking records across multiple networks this season, driving massive engagement, and boosting the league’s profile
- UEFA Euro 2024 has begun in Germany, with organizers expecting record attendance, potentially surpassing the 2.43m fans from Euro 2016 in France, driven by over 50m ticket requests and high demand for the 2.7m available tickets
- Matches are hosted in 10 German cities with large Bundesliga venues in Berlin, Munich, and Dortmund, with Germany drawing over 65,000 fans for its opening win over Scotland in Munich
- The U.S. cricket team advanced to the next round of the T20 World Cup after an impressive performance and favorable weather conditions, drawing significant attention from American fans
- Cricket's popularity in the U.S. remains niche, but there are growing pockets of enthusiasm, particularly among communities with ties to cricket-obsessed countries, with significant attendance and viewership for recent matches
- The success of the U.S. team, bolstered by international players and a strong coach, suggests a sustainable future for cricket in America, though growth beyond culturally centered groups and broader mainstream interest remain challenges
- Shaun White is launching The Snow League, a professional snowboarding and freeskiing circuit set to start in March with a global multi-event format focusing on halfpipe competitions, aiming to become the premier winter sports organization.
- The league has received investment from Ares Management, Will Ventures, Ryan Sports Ventures, and David Blitzer. The inaugural season will feature five events and a $1.5 million prize purse, with plans to introduce freeskiing mid-season.
- The Snow League aims to fill a void left by canceled events due to the COVID-19 pandemic and to rival other sports leagues in prominence. The league is discussing media rights and betting partnerships, focusing on sustainable growth and appealing to a broad audience.
- Niall Horan, former One Direction member, has invested in the tech-infused team golf league TGL through his vehicle Greenbridge Ventures, joining the Boston Common Golf team owned by Fenway Sports Group and Rory McIlroy’s Symphony Ventures.
- TGL features teams of four golfers hitting shots into a simulator screen and transitioning to a short game area within 50 yards of the hole. The league's inaugural season, delayed to January 7, 2025, due to a power failure at the SoFi Center, will include 15 matches plus playoffs, broadcast on ESPN and ESPN+. The league will incorporate a shot clock and mic'd-up players for added engagement.
- The TGL's inaugural season includes six location-tied teams and has attracted notable investors and athletes like Arthur Blank, Steve Cohen, Serena Williams, Stephen Curry, and Giannis Antetokounmpo. The SoFi Center will feature a 3,000-square-foot simulator screen and a customizable short game area, designed to enhance the viewing experience with seating for 1,500 spectators.
- The Sounders’ ownership group and The Carlyle Group purchased NWSL's Seattle Reign FC for $58 million from OL Groupe, marking Carlyle's first investment in women's sports. Adrian Hanauer will serve as Reign FC's governor on the NWSL board, and Maya Mendoza-Exstrom will become the Reign's Chief Business Officer.
- Both teams currently play at Lumen Field, with future plans potentially including a soccer-specific stadium at the Longacres site. The combined programming of Sounders and Reign matches could justify the investment in a new stadium, with long-term stadium plans to be decided in the next 18 months.
- Carlyle sees significant growth potential in women's sports and plans to continue investing in this sector. The firm's sports holdings also include interests in Serie A club Atalanta and the Baltimore Orioles. The investment is part of a broader strategy focusing on the value of content in media, music, and sports.
- David Stern envisioned and championed the WNBA as a women's pro basketball league fully owned by the NBA, aiming to attract fans and sponsors during the NBA offseason while providing a platform for top female basketball talent globally.
- The WNBA has seen significant financial growth, with franchise values skyrocketing. The Las Vegas Aces, for example, purchased for $2 million in 2021, are now valued at $140 million after strategic investments like a $40 million practice facility.
- The league is expanding with new teams like the Golden State Valkyries and Toronto, each paying $50 million in expansion fees. These expansions, alongside high-profile ownership and strategic investments, reflect the WNBA's trajectory towards higher valuations and market presence.
- DAZN has acquired exclusive Formula 1 broadcasting rights in Portugal starting from 2025, agreeing to pay approximately €2.5 million annually for three years.
- This deal marks a decrease from Sport TV's current agreement, valued at nearly €3.5 million per year, reflecting a market-adjusted normalization in rights fees.
- The availability of F1 TV Pro and strategic market conditions influenced Eleven Sports' earlier decision to not match Sport TV's bid, paving the way for DAZN's entry into the F1 broadcasting landscape in Portugal.
- Julia Koch and her family are set to buy a 15% stake in BSE Global, the parent company of the Brooklyn Nets, New York Liberty, and Barclays Center, valuing it at $6 billion, pending NBA approval by June 24.
- The Koch family's net worth is $65.2 billion, and they will have the right of first offer on any future control sale, while Joe and Clara Wu Tsai will retain full control of BSE Global.
- BSE Global's assets, including the Barclays Center, have significantly appreciated, reflecting broader growth in NBA and WNBA valuations and new TV deals expected to boost league incomes.
- The National Women’s Soccer League (NWSL) has seen a rapid increase in team valuations, with the average franchise now worth $66 million. This fast growth has attracted deep-pocketed investors, including private equity (PE) firms, which are crucial for sustaining rising values.
- The NWSL allows private equity investment under specific rules established in early 2024. No single fund can own passive minority stakes in more than three teams or more than 20% of a single team's equity, with a cap of 30% total PE ownership per team. However, a single PE firm can fully own one team if it’s their only NWSL investment, as seen with Bay FC and Sixth Street.
- Teams with PE investments include Bay FC (mostly owned by Sixth Street), Portland Thorns and Utah Royals (minority stakes owned by Arctos Partners), Seattle Reign (partially owned by Carlyle Group), and an upcoming Boston team (involving Monarch Collective). The NWSL has also ruled out sovereign wealth funds and pension funds from ownership, though this could change with future board votes.
- C15 Studio, a new FAST (free ad-funded streaming television) channel operator, launched with support from venture capital funds including Sharp Alpha Advisors, KB Partners, and Raptor Group, co-founded by Joe Nilsson and Amory Schwartz in 2023.
- The studio's initial channel partners include Formula One, ONE Championship, Triton Poker Series, and the Professional Squash Association, with distribution through platforms like Samsung TV Plus, Amazon Freevee, and Pluto TV.
- C15 Studio aims to leverage the sports landscape for audience acquisition, offering live broadcasting rights for most partners and post-produced Formula One content, aiming to attract binge-watchers with a diverse range of free sports content.
- LunchTable, a fan engagement platform, secured $2.4M in seed funding led by JumpStart Ventures, with additional investments from several venture capital funds and angel investors.
- The platform pilots with Cincinnati's Reds and FC Cincinnati to boost marketing and sales without ad spend, allowing fans to become ambassadors by connecting their social media and creating content.
- LunchTable aims to sign 20 teams by March 2025, including its first collegiate partner, the University of Toledo, to amplify messages across media platforms.
- Learn to Win, an enterprise training software provider, raised $30m Series A round led by the Westly Group, Norwest Venture Partners and PearVC. The funds will be used to enhance their training platforms for high-pressure work environments.
- Learn to Win has implemented AI-driven training programs for organizations like Novartis, AbbVie, the Los Angeles Rams, University of Michigan football, the U.S. Navy, and the U.S. Air Force.
- The company's software has attracted notable investors like Kevin Nolan of Sope Creek Capital, due to its success in various sectors, including sports, transportation, and defense
