Sports media brand The Sporting News (TSN) has raised $15m to invest in growing the brand and transitioning the company toward being “transactionally led.” Playtech led the fundraise, along with several sports and digital media industry market leaders.
TSN has also invested in SuperDraft, which is an online player prop and fantasy sports platform. Along with the investment, the company will aid in the day-to-day operations at SuperDraft, as well as utilize the platform to “create another revenue stream, while offering its audience a new means to engage with TSN, bolstering its commitment to grow through DTC and transactional revenues.”
TSN Global CEO Rich Routman described the investment as an opportunity to offer its audience a better-quality product.
He commented, “We believe that the future of the digital publishing industry is the pivot from revenue per thousand page views (RPM) to ‘lifetime value’ (LTV).
“The digital publishers who are able to demonstrate that their audiences equate to more than viewable advertising impressions and can lead to transactional customers will be the next set of leaders in digital media. We are excited about TSN’s future and look forward to delivering more value to our audience.”
Company Global COO Shaun Koiner discussed the future of the company and the importance of creating a relevant brand for the next generation.
He said, “TSN was built on our ability to evolve our business to where the industry is headed, while maintaining our proud heritage.
“From our initial shift from print to digital, from domestic to international and now from being advertising-led to being LTV focused, we believe TSN will continue to be a relevant, iconic and lasting brand for the long term.”
