1 00:00:00,280 --> 00:00:03,800 Speaker 1: This is the business of sports. Should Major League Baseball 2 00:00:04,000 --> 00:00:06,840 Speaker 1: shorten up the season? How do we present football to 3 00:00:06,920 --> 00:00:08,920 Speaker 1: the audience of the future. I don't think that most 4 00:00:08,920 --> 00:00:11,640 Speaker 1: players understand the power that they have. Michael vaugh The 5 00:00:11,720 --> 00:00:15,520 Speaker 1: future of IndyCar racing is looking bright. Scott Sashnik very 6 00:00:15,560 --> 00:00:18,959 Speaker 1: basic math here, more bidders means more money. Evan Nobody Williams. 7 00:00:18,960 --> 00:00:22,079 Speaker 1: The team value has essentially quadruples. And the leaders in 8 00:00:22,120 --> 00:00:25,480 Speaker 1: the sports industry time to bring an our guest, Hal Stoombrunner, 9 00:00:25,600 --> 00:00:29,320 Speaker 1: National Hockey League Commissioner Gary Bettman, Atlanta Braves president Derek Schiller, 10 00:00:29,400 --> 00:00:34,800 Speaker 1: Patriots President Jonathan Kraft. Bloomberg Business of Sports from Bloomberg Radio. Hello, 11 00:00:34,880 --> 00:00:37,880 Speaker 1: I'm Evan Noby william and I'm Scott Snick. Michael Barr 12 00:00:37,920 --> 00:00:40,400 Speaker 1: is off this week. Every week at this time, plus 13 00:00:40,479 --> 00:00:43,199 Speaker 1: Mondays and Wednesdays, we explore the big money issues in 14 00:00:43,240 --> 00:00:45,159 Speaker 1: the world of sports. Coming up on the show, we 15 00:00:45,200 --> 00:00:48,760 Speaker 1: speak with Howard Mittman, CEO of Bleacher Report. But first 16 00:00:48,840 --> 00:00:50,600 Speaker 1: let's look at some of the top stories of the week, 17 00:00:51,040 --> 00:00:54,720 Speaker 1: starting with a big story from Bloomberg Business Week on 18 00:00:55,040 --> 00:01:02,360 Speaker 1: Nick's owner James Dowan and not surprisingly, Evan, I would 19 00:01:02,520 --> 00:01:07,840 Speaker 1: think that most readers would walk away saying, oh, Jim Dolan, 20 00:01:07,959 --> 00:01:11,039 Speaker 1: he just still doesn't get it. Yeah. I think the 21 00:01:11,080 --> 00:01:14,120 Speaker 1: takeaway is I'm glad I'm not a Knicks fan. The 22 00:01:14,360 --> 00:01:16,759 Speaker 1: the story goes, you know, pretty deep into a lot 23 00:01:16,760 --> 00:01:19,040 Speaker 1: of things that you know, people who are even casual 24 00:01:19,200 --> 00:01:21,440 Speaker 1: followers of the NBA, I think already know, and that 25 00:01:21,800 --> 00:01:24,679 Speaker 1: you know James Dolan is does not like the media. 26 00:01:25,160 --> 00:01:27,800 Speaker 1: And despite the fact that you know, the team is 27 00:01:27,840 --> 00:01:31,640 Speaker 1: probably the most valuable, uh and richest team in the NBA, 28 00:01:32,120 --> 00:01:34,720 Speaker 1: they have had virtually zero success in the in the 29 00:01:34,800 --> 00:01:37,120 Speaker 1: last twenty years. And well, the new, the new that 30 00:01:37,280 --> 00:01:40,240 Speaker 1: came out and it's it's new, but it's old, is 31 00:01:40,280 --> 00:01:42,560 Speaker 1: that one of our reporters went out to Long Island 32 00:01:42,800 --> 00:01:46,920 Speaker 1: to a concert venue to see Dolan and it's really 33 00:01:46,959 --> 00:01:50,480 Speaker 1: for color as Jim Dolan as lead singer of j 34 00:01:50,600 --> 00:01:52,760 Speaker 1: D in the straight Shot. But it turned out she 35 00:01:52,840 --> 00:01:55,680 Speaker 1: was there a little early and Jim was sitting there 36 00:01:55,720 --> 00:01:59,920 Speaker 1: by himself. So she went over and introduced herself, identify 37 00:02:00,040 --> 00:02:02,720 Speaker 1: herself as a reporter with Bloomberg. And let's say Jim 38 00:02:02,800 --> 00:02:04,800 Speaker 1: was not He didn't like that. No, I mean, but 39 00:02:04,960 --> 00:02:07,600 Speaker 1: I mean to flip her pad closed like, this isn't 40 00:02:07,600 --> 00:02:10,959 Speaker 1: the proper time, this isn't about the Knicks, and then 41 00:02:11,200 --> 00:02:14,480 Speaker 1: had her thrown out of the venue, called secure, walked away, 42 00:02:14,560 --> 00:02:17,000 Speaker 1: called security, and had her removed from the venue. Now 43 00:02:17,040 --> 00:02:20,640 Speaker 1: this is this is a public theater. She paid for 44 00:02:20,680 --> 00:02:24,600 Speaker 1: her ticket, Jimmy doesn't own the theater, not like it's 45 00:02:24,680 --> 00:02:29,600 Speaker 1: MSG and still had her thrown out and the theater 46 00:02:29,680 --> 00:02:31,919 Speaker 1: was like, well, you know he's the headliner and he wasn't, 47 00:02:32,360 --> 00:02:35,080 Speaker 1: but so he can do that. Yeah, he's got fins. 48 00:02:35,280 --> 00:02:40,200 Speaker 1: He's got is this example, you know, z on a 49 00:02:40,280 --> 00:02:44,600 Speaker 1: long list of of public instances where he has you know, 50 00:02:44,600 --> 00:02:47,320 Speaker 1: whether against a reporter or against a fan who is 51 00:02:47,680 --> 00:02:50,440 Speaker 1: arguing for yelling for him to sell the team. Um, 52 00:02:50,639 --> 00:02:52,520 Speaker 1: he's shown this, he's on that side of him before. 53 00:02:52,600 --> 00:02:55,000 Speaker 1: You know what I would do, and I know Jim 54 00:02:55,040 --> 00:02:57,520 Speaker 1: I have. I have dealt with Jim on a number 55 00:02:57,560 --> 00:02:59,720 Speaker 1: of occasions over the years and really haven't had any 56 00:02:59,720 --> 00:03:02,120 Speaker 1: problem with Jim. What I would do is sit him 57 00:03:02,160 --> 00:03:07,359 Speaker 1: down and show him the George Costanza opposite episode how 58 00:03:07,400 --> 00:03:10,520 Speaker 1: everything came up roses when he did the opposite of whatever. 59 00:03:10,560 --> 00:03:15,520 Speaker 1: His instinctional knee jerk response was I just I just 60 00:03:15,919 --> 00:03:20,240 Speaker 1: don't get a night. And I know he's an irascible guy. 61 00:03:20,280 --> 00:03:23,760 Speaker 1: I know he's had demons. I get it. But you 62 00:03:23,800 --> 00:03:25,920 Speaker 1: have you have to learn, you have to grow, you 63 00:03:25,960 --> 00:03:29,920 Speaker 1: have to learn. And Jimmy can buy himself a ton 64 00:03:29,960 --> 00:03:33,799 Speaker 1: of goodwill by simply even if you disagree with somebody 65 00:03:34,200 --> 00:03:38,440 Speaker 1: simply being nice. Going back to the conversation we had 66 00:03:38,640 --> 00:03:42,040 Speaker 1: last week kind of about valuations, do you think there's 67 00:03:42,040 --> 00:03:44,480 Speaker 1: a chance. I mean, it's clear that what it means 68 00:03:44,520 --> 00:03:47,160 Speaker 1: to be a New York Knick in the NBA right 69 00:03:47,160 --> 00:03:48,840 Speaker 1: now is not the same thing that it may be 70 00:03:49,000 --> 00:03:52,200 Speaker 1: meant ten years ago. Some of the biggest free agents 71 00:03:52,200 --> 00:03:55,280 Speaker 1: in the in the basketball this offseason came to New York, 72 00:03:55,320 --> 00:03:56,880 Speaker 1: but they went to the Brooklyn Nets and not the 73 00:03:56,880 --> 00:04:00,480 Speaker 1: New York Knicks. Is there a risk of the Knicks 74 00:04:00,520 --> 00:04:04,400 Speaker 1: permanently losing kind of the aura around Madison Square Garden 75 00:04:04,440 --> 00:04:06,840 Speaker 1: and the aura around the New York Knicks if we 76 00:04:06,920 --> 00:04:09,360 Speaker 1: go a little bit further into this kind of twenty 77 00:04:09,440 --> 00:04:12,120 Speaker 1: years slide where they're almost never in the playoffs. They've 78 00:04:12,160 --> 00:04:16,240 Speaker 1: won one playoff series since two thousand one. Um, do 79 00:04:16,560 --> 00:04:20,560 Speaker 1: you eventually nowadays the powers with the players, they can 80 00:04:20,560 --> 00:04:23,440 Speaker 1: dictate they have power, they decide, they will go where 81 00:04:23,440 --> 00:04:25,200 Speaker 1: they want to go. They will go where they benefit, 82 00:04:25,440 --> 00:04:27,240 Speaker 1: and if they do not see this as a good 83 00:04:27,240 --> 00:04:29,640 Speaker 1: culture fit for them, they will not be there. Thus 84 00:04:29,680 --> 00:04:31,440 Speaker 1: the New York Knicks. But we also have a story 85 00:04:31,480 --> 00:04:35,680 Speaker 1: about managing money in football, specifically college football, and I 86 00:04:35,720 --> 00:04:39,640 Speaker 1: know you love this specifically ls you what are they doing? Yeah, 87 00:04:39,720 --> 00:04:42,359 Speaker 1: so l s U. UM, you know, one of the 88 00:04:42,480 --> 00:04:46,279 Speaker 1: richest athletic departments in the country has for a while 89 00:04:46,400 --> 00:04:49,520 Speaker 1: now given a kind of health, healthy sum back from 90 00:04:49,560 --> 00:04:52,680 Speaker 1: athletics to the academic side of the institution every year. UM. 91 00:04:52,880 --> 00:04:55,400 Speaker 1: It was about nine point five million dollars a year. 92 00:04:55,440 --> 00:04:57,440 Speaker 1: Most recently. A lot of the big schools like to 93 00:04:57,680 --> 00:05:00,320 Speaker 1: prop up their athletic departments by saying we give money. 94 00:05:00,480 --> 00:05:03,800 Speaker 1: The University of Texas gives a lot back. Um. The 95 00:05:04,080 --> 00:05:06,520 Speaker 1: l s U has essentially announced that they're no longer 96 00:05:06,560 --> 00:05:10,600 Speaker 1: going to deal with UM. New a d. Scott Woodward 97 00:05:10,600 --> 00:05:12,839 Speaker 1: has said, you know, it's it's it's not advisable for 98 00:05:12,920 --> 00:05:15,960 Speaker 1: us to do this right now, UM, which which I 99 00:05:16,000 --> 00:05:18,480 Speaker 1: mean I think is, you know, it's a it's kind 100 00:05:18,480 --> 00:05:21,640 Speaker 1: of a testimony of where college sports is right now 101 00:05:21,720 --> 00:05:24,000 Speaker 1: as a business. Right this is l s U is 102 00:05:24,040 --> 00:05:27,479 Speaker 1: one of the few fully self sustained athletic departments in 103 00:05:27,480 --> 00:05:29,960 Speaker 1: the country that they take Yeah, they take no money 104 00:05:29,960 --> 00:05:32,880 Speaker 1: from their students, They take no money from the government 105 00:05:32,960 --> 00:05:37,400 Speaker 1: or institutional you know, directly. Um. But you know, they 106 00:05:37,440 --> 00:05:39,760 Speaker 1: have a hundred forty five million dollar budget and and 107 00:05:39,800 --> 00:05:42,480 Speaker 1: they are refusing now to give money back to the school, 108 00:05:42,560 --> 00:05:44,919 Speaker 1: especially at a time you know, when they announced that 109 00:05:44,960 --> 00:05:48,280 Speaker 1: new football operations building last week. You know, we talked about, 110 00:05:48,360 --> 00:05:50,479 Speaker 1: you know, the photos that came out about the Middleton 111 00:05:50,560 --> 00:05:53,200 Speaker 1: Library right which has you know, leaks, and it seems 112 00:05:53,200 --> 00:05:58,640 Speaker 1: fairly dilapidated. Uh. In general, higher education right now is underfunded, 113 00:05:58,680 --> 00:06:01,919 Speaker 1: but in the grand scheme of things. You pointed me 114 00:06:01,960 --> 00:06:03,960 Speaker 1: to a very interesting story or somebody had done a 115 00:06:04,000 --> 00:06:06,640 Speaker 1: study on the effect on recruiting and it seemed like 116 00:06:06,640 --> 00:06:09,080 Speaker 1: it was minimal. Yeah, there's there's evidence out there that 117 00:06:09,120 --> 00:06:14,359 Speaker 1: these you know, fancy la high end training facilities actually 118 00:06:14,400 --> 00:06:17,960 Speaker 1: don't affect recruiting all that much. And as we said, 119 00:06:18,080 --> 00:06:20,480 Speaker 1: I think rightfully, so this is a way of this 120 00:06:20,560 --> 00:06:23,200 Speaker 1: is a way of paying players without directly paying them, 121 00:06:23,279 --> 00:06:25,760 Speaker 1: right and this might not be the way compensation that 122 00:06:26,120 --> 00:06:28,200 Speaker 1: players actually want, but that's what that's what it ends 123 00:06:28,279 --> 00:06:30,800 Speaker 1: up with right now, given where n s A rules are. 124 00:06:31,279 --> 00:06:34,240 Speaker 1: But you know, there are a few schools out there, 125 00:06:34,240 --> 00:06:35,599 Speaker 1: and l s U was one of them that was 126 00:06:35,640 --> 00:06:37,800 Speaker 1: giving kind of healthy chunks of change back to its 127 00:06:37,800 --> 00:06:41,360 Speaker 1: academic side. UM. And I think it's it's unfortunate that 128 00:06:41,360 --> 00:06:43,279 Speaker 1: that l s U was losing that. Give me a 129 00:06:43,320 --> 00:06:46,320 Speaker 1: private olive garden, super salad bart inside the locker room, 130 00:06:46,360 --> 00:06:48,720 Speaker 1: and I'm and I'm going to ls man. Let's hang 131 00:06:48,800 --> 00:06:52,760 Speaker 1: around college sports locally New Jersey. Our good old friend, 132 00:06:52,800 --> 00:06:55,320 Speaker 1: Rutgers University. They have a new locker room to not 133 00:06:55,680 --> 00:07:00,320 Speaker 1: quite ls you fancy schmancy, but pretty fancy. And the 134 00:07:00,400 --> 00:07:03,560 Speaker 1: problem is, unlike l s U, which has a self 135 00:07:03,640 --> 00:07:11,280 Speaker 1: sustaining athletic department, the Scarlet Knights bleed really really different 136 00:07:11,960 --> 00:07:14,800 Speaker 1: different ends of the spectrum here, Rutgers is and and 137 00:07:15,120 --> 00:07:17,160 Speaker 1: for all the public schools and in the Power five, 138 00:07:17,400 --> 00:07:20,520 Speaker 1: the richest school conferences in college football. You know, Rutgers 139 00:07:20,560 --> 00:07:24,120 Speaker 1: is the most subsidized program out there. They have hundred 140 00:07:24,120 --> 00:07:27,560 Speaker 1: million dollar budget. Thirty million of that comes from either 141 00:07:27,680 --> 00:07:33,280 Speaker 1: student fees, direct institutional support, or direct government or state support. UM. 142 00:07:33,360 --> 00:07:36,320 Speaker 1: That's a huge number. You know, as we said, l 143 00:07:36,440 --> 00:07:39,960 Speaker 1: s U D million dollar budget comes entirely from athletics 144 00:07:40,320 --> 00:07:44,480 Speaker 1: Rutgers hundred million dollar budget that we should point support 145 00:07:44,520 --> 00:07:48,360 Speaker 1: for fairness, we should point out that this particular project 146 00:07:48,480 --> 00:07:50,600 Speaker 1: was funded by a donation. This was a four million 147 00:07:50,600 --> 00:07:53,800 Speaker 1: dollar project. Yeah, privately funded from from a gift from 148 00:07:53,800 --> 00:07:56,960 Speaker 1: a from a family. Um. But you know, there are 149 00:07:57,000 --> 00:07:59,600 Speaker 1: certainly people out there who feel, like, you know, that 150 00:07:59,600 --> 00:08:02,000 Speaker 1: that the institution should be doing a better job of 151 00:08:02,040 --> 00:08:05,480 Speaker 1: trying to get its athletic department at a place where 152 00:08:05,520 --> 00:08:08,440 Speaker 1: it's not it's not taking you know, twelve million dollars 153 00:08:08,480 --> 00:08:11,240 Speaker 1: a year from from students and their tuition. How's that 154 00:08:11,280 --> 00:08:14,440 Speaker 1: New York team marketing the Big Ten from others? How's what? 155 00:08:14,560 --> 00:08:16,360 Speaker 1: How's that New York teaving market thing working in the 156 00:08:16,360 --> 00:08:18,800 Speaker 1: Big Yeah? So you know, Rutgers is a new ish 157 00:08:18,920 --> 00:08:21,600 Speaker 1: member of the Big Ten. Uh. They're getting obviously a 158 00:08:21,600 --> 00:08:23,600 Speaker 1: lot of money from the Big Ten. That their new 159 00:08:23,600 --> 00:08:27,200 Speaker 1: media deal when it kicks in is going to be massive. Um. 160 00:08:27,280 --> 00:08:30,560 Speaker 1: But you know Rutgers new new locker rooms. Yes, but 161 00:08:30,560 --> 00:08:32,440 Speaker 1: but still has a lot of work to do in 162 00:08:32,520 --> 00:08:35,480 Speaker 1: terms of getting the financial situation of the athletic department 163 00:08:35,960 --> 00:08:38,640 Speaker 1: on on even Keel. Now, let's get into this week's 164 00:08:38,640 --> 00:08:41,440 Speaker 1: interview with Howard Mittman. He's the CEO of Bleacher Report, 165 00:08:41,640 --> 00:08:45,120 Speaker 1: which delivers sports content and real time event coverage serving 166 00:08:45,120 --> 00:08:47,400 Speaker 1: readers around the world. Howard, thank you very much for 167 00:08:47,480 --> 00:08:50,320 Speaker 1: joining us on Bloomberg Business of Sports. Thanks for having 168 00:08:50,320 --> 00:08:52,400 Speaker 1: me so you could make an argument that you know 169 00:08:52,480 --> 00:08:55,599 Speaker 1: more about young kids in America that than most CEOs. 170 00:08:55,880 --> 00:08:57,920 Speaker 1: What should I be getting my nephew for his birthday? 171 00:08:58,320 --> 00:09:01,000 Speaker 1: Not a kid cat, I would imagine. Told us the 172 00:09:01,000 --> 00:09:03,120 Speaker 1: story is kid dropped a kit catted camp and then 173 00:09:03,160 --> 00:09:06,360 Speaker 1: let an F bomb fly. Yeah, I didn't realize my 174 00:09:06,400 --> 00:09:09,720 Speaker 1: parenting skills We're gonna be on display here as a gift, 175 00:09:09,760 --> 00:09:12,000 Speaker 1: I would say, gift cards seem to be the only 176 00:09:12,040 --> 00:09:14,400 Speaker 1: thing that, uh that can be used out in a 177 00:09:14,480 --> 00:09:17,440 Speaker 1: virtual fair enough, but tell us a bit about now. Now, 178 00:09:17,440 --> 00:09:20,400 Speaker 1: Bleacher Report, you know has a very young demographic. Give 179 00:09:20,480 --> 00:09:22,120 Speaker 1: us a sense of kind of the audience that you 180 00:09:22,120 --> 00:09:24,480 Speaker 1: guys are getting both kind of digitally on the app 181 00:09:24,520 --> 00:09:27,480 Speaker 1: and also you know, on the web. Yeah. So at 182 00:09:27,679 --> 00:09:30,120 Speaker 1: bleacher Report, we we have obviously Bleacher Report, which is 183 00:09:30,120 --> 00:09:31,880 Speaker 1: the hero brand, and then we have a series of 184 00:09:31,880 --> 00:09:35,040 Speaker 1: portfolio brands, House of highlights, be our football, be our gridiron, 185 00:09:35,120 --> 00:09:37,720 Speaker 1: br kicks, be our hoops, and and a number of 186 00:09:37,720 --> 00:09:41,680 Speaker 1: others amongst them UM that reach younger, millennial and and 187 00:09:41,800 --> 00:09:44,800 Speaker 1: gen Z consumers. And we've built it so that we 188 00:09:44,840 --> 00:09:47,600 Speaker 1: can have UM Bleacher Report as the hero brand, as 189 00:09:47,600 --> 00:09:50,640 Speaker 1: I mentioned, and then we have a series of verticals 190 00:09:50,679 --> 00:09:52,920 Speaker 1: that will line up across the sports and sports culture 191 00:09:52,960 --> 00:09:57,160 Speaker 1: landscape to UM appeal to different demographics and to ultimately 192 00:09:57,200 --> 00:10:00,480 Speaker 1: create a horizontal out of all those verticals inside of 193 00:10:00,480 --> 00:10:03,599 Speaker 1: the sports and sports culture niche and What's your Is 194 00:10:03,640 --> 00:10:07,960 Speaker 1: there an average age roughly of of a social across 195 00:10:08,000 --> 00:10:11,360 Speaker 1: all our social platforms. The average ages twenty six. Excuse 196 00:10:11,400 --> 00:10:14,960 Speaker 1: a couple of years older in the app, but twenty 197 00:10:15,000 --> 00:10:18,439 Speaker 1: six is about what we look for the same demographics 198 00:10:18,440 --> 00:10:21,320 Speaker 1: major League Baseball. I was going to make the baseball joke. 199 00:10:21,720 --> 00:10:24,280 Speaker 1: Wait wait a minute, So what's the secret sauce? What 200 00:10:24,280 --> 00:10:28,400 Speaker 1: do they want? Yeah? I think it depends on what platform, right, 201 00:10:28,440 --> 00:10:32,120 Speaker 1: So what it is that UM our community wants depends 202 00:10:32,160 --> 00:10:34,400 Speaker 1: on where they are. But inevitably, I think we run 203 00:10:34,440 --> 00:10:37,640 Speaker 1: two businesses concurrently, UM, which is a bit of our 204 00:10:37,679 --> 00:10:39,839 Speaker 1: secret sauce. It's what we manage now and what we're 205 00:10:39,840 --> 00:10:43,080 Speaker 1: building for the future. So the first business is the verticals. 206 00:10:43,120 --> 00:10:48,280 Speaker 1: I mentioned those portfolio brands across social, so we have, um, 207 00:10:48,320 --> 00:10:51,440 Speaker 1: you know, massive social following with a number two most 208 00:10:51,520 --> 00:10:54,840 Speaker 1: engaged account across all of Twitter. It's literally Donald Trump 209 00:10:55,080 --> 00:10:58,440 Speaker 1: US and then Ariana Grande. Um. Although occasionally she gets 210 00:10:58,440 --> 00:11:00,559 Speaker 1: into a Twitter beef with Katie Perry or Taylor Swift 211 00:11:00,640 --> 00:11:04,280 Speaker 1: or someone and if she can jump, there are months 212 00:11:04,320 --> 00:11:06,760 Speaker 1: where she hits two and where we're three. God forbids 213 00:11:06,800 --> 00:11:09,600 Speaker 1: she getting a beef with Trump? Uh oh god, we'd 214 00:11:09,640 --> 00:11:14,000 Speaker 1: be dead. Although anything can happen these days. So, um, 215 00:11:14,200 --> 00:11:17,360 Speaker 1: we run that business and we do a pretty significant 216 00:11:17,400 --> 00:11:20,559 Speaker 1: percentage of our revenue across those social channels in a 217 00:11:20,640 --> 00:11:23,360 Speaker 1: variety of ways. Can you walk people through how that works? Yeah, 218 00:11:23,400 --> 00:11:25,079 Speaker 1: I mean it's one thing to say, oh, across social, 219 00:11:25,400 --> 00:11:27,440 Speaker 1: but how does that work? What the what's the content? 220 00:11:27,520 --> 00:11:29,920 Speaker 1: How do they get it? And then how does it amplify? Yeah, 221 00:11:29,960 --> 00:11:31,840 Speaker 1: So when we think about social we think about that 222 00:11:31,880 --> 00:11:35,160 Speaker 1: as our always on business. So they always on business 223 00:11:35,320 --> 00:11:37,560 Speaker 1: is that which we have to create and provide in 224 00:11:37,679 --> 00:11:41,360 Speaker 1: order to satiate the never ending desire of what it 225 00:11:41,440 --> 00:11:44,360 Speaker 1: is that sports fans crave and care about. So I 226 00:11:44,400 --> 00:11:48,080 Speaker 1: actually use the example of Bloomberg all the time, um, 227 00:11:48,160 --> 00:11:50,880 Speaker 1: because we're Bloomberg for sports. Think about it. You know, 228 00:11:50,920 --> 00:11:54,720 Speaker 1: when you have the financial markets right, it is ever changing, 229 00:11:54,760 --> 00:11:57,000 Speaker 1: it is constantly evolving. There's news, there's players, is a 230 00:11:57,080 --> 00:11:59,520 Speaker 1: constant need to stay connected. It is you know, not 231 00:11:59,600 --> 00:12:02,000 Speaker 1: it is some thing that is sought out, it's not 232 00:12:02,080 --> 00:12:04,400 Speaker 1: found right, it's a need versus that's something that just 233 00:12:04,440 --> 00:12:06,760 Speaker 1: pops up in your feed. Sports is the same way, 234 00:12:06,920 --> 00:12:09,720 Speaker 1: and so our social business is built to keep the 235 00:12:09,760 --> 00:12:13,240 Speaker 1: modern sports fan up to date and informed about everything 236 00:12:13,360 --> 00:12:16,040 Speaker 1: live time. That doesn't mean that it's reactive. A lot 237 00:12:16,040 --> 00:12:18,400 Speaker 1: of what we do as planned. So as an example, 238 00:12:18,840 --> 00:12:22,959 Speaker 1: Zion Williamson launches, you know, his um global announcement where 239 00:12:22,960 --> 00:12:26,200 Speaker 1: he's going with brand Jordan's. We have to be prepared 240 00:12:26,240 --> 00:12:29,000 Speaker 1: for all the different permutations of where he could go, 241 00:12:29,360 --> 00:12:32,000 Speaker 1: to have graphics and visuals and stories ready for the 242 00:12:32,080 --> 00:12:34,840 Speaker 1: second that's at least sort of to push it out. Journalism, 243 00:12:34,920 --> 00:12:38,600 Speaker 1: you don't care then if the news breaks on your platform. 244 00:12:38,760 --> 00:12:42,960 Speaker 1: You just need to fill the marketplace once the news 245 00:12:43,040 --> 00:12:44,440 Speaker 1: is out there, and fill it fast. I think it's 246 00:12:44,440 --> 00:12:46,800 Speaker 1: a great question. We we do pride ourselves on breaking 247 00:12:46,800 --> 00:12:49,000 Speaker 1: a fair amount of news. But I'll give you an 248 00:12:49,040 --> 00:12:52,440 Speaker 1: example of how this plays out, where breaking news is 249 00:12:52,480 --> 00:12:54,520 Speaker 1: not as important as the ability to get it out 250 00:12:54,520 --> 00:12:56,600 Speaker 1: and to be able to package it and get get 251 00:12:56,679 --> 00:12:58,600 Speaker 1: it in front of consumers in a way that engages. 252 00:12:58,679 --> 00:13:02,439 Speaker 1: So Anthony Dave us right, Anthony Davis. You know, if 253 00:13:02,440 --> 00:13:04,800 Speaker 1: you're any kind of sports fan in the world or human, 254 00:13:04,840 --> 00:13:07,160 Speaker 1: I think today you know he went to the Lakers. 255 00:13:07,200 --> 00:13:10,040 Speaker 1: That was a you know, surprise to some, but it 256 00:13:10,080 --> 00:13:14,800 Speaker 1: was enormous news. UM another large sports outlet got that news. 257 00:13:15,160 --> 00:13:18,560 Speaker 1: One of their reporters, an amazing reporter. UM got it, 258 00:13:18,960 --> 00:13:21,880 Speaker 1: pushed it out across Twitter. The whole world sees that. 259 00:13:22,040 --> 00:13:24,320 Speaker 1: From us to anyone else who you know you might 260 00:13:24,320 --> 00:13:26,640 Speaker 1: possibly mention up tone including Bloomberg, has to write a 261 00:13:26,640 --> 00:13:30,360 Speaker 1: story on that. UM. We take that, we package it, 262 00:13:30,400 --> 00:13:33,360 Speaker 1: we push it out across our UH social feeds. We 263 00:13:33,400 --> 00:13:35,520 Speaker 1: also push it across our app. Our app is the 264 00:13:35,559 --> 00:13:38,880 Speaker 1: second business that we run. UM. We have twenty million 265 00:13:38,880 --> 00:13:41,280 Speaker 1: total downieloads and more importantly, nine and a half million 266 00:13:41,360 --> 00:13:45,800 Speaker 1: consumers opted into receive alerts. So another another news network 267 00:13:45,840 --> 00:13:48,760 Speaker 1: breaks that news. We take that information, push it across 268 00:13:48,800 --> 00:13:51,920 Speaker 1: our social networks that have three x the engagement they do, 269 00:13:52,160 --> 00:13:54,760 Speaker 1: and we push it out across our app and our 270 00:13:54,760 --> 00:13:58,480 Speaker 1: alert hits first before they dug they do so breaking 271 00:13:58,520 --> 00:14:02,040 Speaker 1: the news. The value you on that is limited. Your 272 00:14:02,040 --> 00:14:03,960 Speaker 1: ability to take that news and push it out and 273 00:14:03,960 --> 00:14:05,800 Speaker 1: get in front of consumers and have them engage on 274 00:14:05,840 --> 00:14:07,480 Speaker 1: it is what's at a premium. And at the end 275 00:14:07,520 --> 00:14:09,960 Speaker 1: of the day we did on that day on that 276 00:14:10,040 --> 00:14:12,240 Speaker 1: news it was two things. One, it was our highest 277 00:14:12,240 --> 00:14:16,160 Speaker 1: traffic date ever and to um, we did fifty million 278 00:14:16,240 --> 00:14:20,320 Speaker 1: video views for that news and they did ten. So wait, abaut, 279 00:14:20,440 --> 00:14:22,280 Speaker 1: are you doing such a great job or is ESPN 280 00:14:22,320 --> 00:14:24,840 Speaker 1: falling down? Is Jimmy Pittara going to hear this going whoa, whoa, 281 00:14:24,840 --> 00:14:28,120 Speaker 1: whoa buddy, we are we are doing something wrong here 282 00:14:28,160 --> 00:14:31,280 Speaker 1: because if we have the news, we should own the news. 283 00:14:31,560 --> 00:14:34,200 Speaker 1: And the ripple effects from that rock hitting the water, 284 00:14:34,720 --> 00:14:37,240 Speaker 1: I can't honestly tell you how anyone would take that 285 00:14:37,320 --> 00:14:40,200 Speaker 1: news or not. Um, I'm I'm really impressed with what 286 00:14:40,200 --> 00:14:43,120 Speaker 1: they're doing. I think he's made great strides. And you know, 287 00:14:43,120 --> 00:14:44,640 Speaker 1: I just listened to a podcast he was on the 288 00:14:44,640 --> 00:14:47,120 Speaker 1: other day and I thought it was fantastic. Um, so 289 00:14:47,360 --> 00:14:49,640 Speaker 1: I don't know how that would reflect on any other executive, 290 00:14:49,680 --> 00:14:52,760 Speaker 1: but I can say that breaking news is a little 291 00:14:52,760 --> 00:14:55,560 Speaker 1: bit less of a big deal for us, and I 292 00:14:55,600 --> 00:14:58,200 Speaker 1: think you know, even he has spoken about House of 293 00:14:58,280 --> 00:15:01,000 Speaker 1: Highlights and Bleacher Report and a need the different the 294 00:15:01,040 --> 00:15:02,640 Speaker 1: ability that we have to reach those younger than the 295 00:15:02,680 --> 00:15:04,600 Speaker 1: only different so you brought up Bloomberg game, the only 296 00:15:04,680 --> 00:15:10,400 Speaker 1: difference being our breaking news is so actionable to the investor. Yeah, 297 00:15:10,520 --> 00:15:13,320 Speaker 1: I haven't having that five ten second head started. We're 298 00:15:13,320 --> 00:15:16,760 Speaker 1: talking tens of millions of yes now today. That's true 299 00:15:17,280 --> 00:15:20,960 Speaker 1: in two years as betting legalizes, So on average are 300 00:15:20,960 --> 00:15:25,040 Speaker 1: alerts hit fifty eight seconds faster than the brand you mentioned, right, 301 00:15:25,120 --> 00:15:28,400 Speaker 1: So that's a big deal. That's an eternity when when 302 00:15:28,480 --> 00:15:31,000 Speaker 1: sports betting legalizes, when you're looking at in game betting, 303 00:15:31,000 --> 00:15:33,360 Speaker 1: when you're looking at odds and updates, so um our 304 00:15:33,400 --> 00:15:35,800 Speaker 1: ability to move quickly and to push that out and 305 00:15:35,800 --> 00:15:38,360 Speaker 1: to have three x the engagement they do in both 306 00:15:38,400 --> 00:15:41,600 Speaker 1: social and in our app those are advantages that play 307 00:15:41,680 --> 00:15:45,600 Speaker 1: really well for us as sports betting legalizes and the 308 00:15:45,640 --> 00:15:48,880 Speaker 1: information becomes more actionable to the sportsman. We're speaking with 309 00:15:48,920 --> 00:15:51,480 Speaker 1: Howard Mitman, CEO of Bleacher Report and Howard. You just 310 00:15:51,520 --> 00:15:55,040 Speaker 1: brought up sports betting. We've had a number of sports 311 00:15:55,040 --> 00:15:58,440 Speaker 1: media executives sitting in the same chair talking about kind 312 00:15:58,440 --> 00:16:00,880 Speaker 1: of the effect that their business may have now that 313 00:16:00,880 --> 00:16:03,680 Speaker 1: that legalized sports betting is is moving across the country. 314 00:16:04,040 --> 00:16:06,240 Speaker 1: You just brought up, I think a more nuanced point 315 00:16:06,240 --> 00:16:08,800 Speaker 1: than that than most of them. Have a direct way 316 00:16:08,840 --> 00:16:12,240 Speaker 1: in which the speed in which your business operates can 317 00:16:12,320 --> 00:16:15,080 Speaker 1: become more effective or maybe even more important or more 318 00:16:15,200 --> 00:16:17,920 Speaker 1: vital in a world in which gamblers are using the 319 00:16:17,960 --> 00:16:21,920 Speaker 1: information uh to place bets. Is that the way that 320 00:16:21,960 --> 00:16:24,760 Speaker 1: you think sports gambling affects you guys the most. I 321 00:16:24,800 --> 00:16:26,600 Speaker 1: think I think that's part of it. I think there's 322 00:16:26,600 --> 00:16:29,160 Speaker 1: a few ways that I think about it now. At clearly, 323 00:16:29,240 --> 00:16:32,520 Speaker 1: speed and technology and the ability to engage consumers and 324 00:16:32,680 --> 00:16:37,480 Speaker 1: inform them with that information quickly matters. Um. I do 325 00:16:37,640 --> 00:16:41,920 Speaker 1: honestly believe um that we're in early days, right, And 326 00:16:41,960 --> 00:16:43,480 Speaker 1: so the way that I think about it again, I'll 327 00:16:43,480 --> 00:16:45,520 Speaker 1: relate it back to Bloomberg. If you were to write 328 00:16:45,520 --> 00:16:49,080 Speaker 1: a story on Ford Motor Company, it would almost be 329 00:16:49,120 --> 00:16:52,640 Speaker 1: irresponsible of you to not mention the stock market and 330 00:16:52,640 --> 00:16:55,160 Speaker 1: to use the data inherent in the market to be 331 00:16:55,240 --> 00:16:58,800 Speaker 1: able to package up against some form of metric, how 332 00:16:58,840 --> 00:17:01,120 Speaker 1: that CEO is doing, how that company is doing, and 333 00:17:01,160 --> 00:17:04,800 Speaker 1: what it is that context writing, right, I think we're 334 00:17:04,800 --> 00:17:08,000 Speaker 1: moving towards a world where in a couple of years 335 00:17:08,040 --> 00:17:10,360 Speaker 1: time it will be the same for sports. It will 336 00:17:10,400 --> 00:17:13,600 Speaker 1: be irresponsible for us to have this data and to 337 00:17:13,680 --> 00:17:15,639 Speaker 1: write about it and to not use it in a 338 00:17:15,680 --> 00:17:18,560 Speaker 1: way that that you would here. And so I think 339 00:17:18,880 --> 00:17:21,840 Speaker 1: on the one hand, there's clearly a speed element to it, 340 00:17:21,880 --> 00:17:24,720 Speaker 1: and there's a direct connection to consumers, but there's also 341 00:17:24,760 --> 00:17:28,119 Speaker 1: a storytelling element to it, and I think journalistically I'm 342 00:17:28,160 --> 00:17:30,760 Speaker 1: as fascinated by that and where this goes and how 343 00:17:30,760 --> 00:17:34,280 Speaker 1: we're prepping our organization to UM understand that, and that's 344 00:17:34,320 --> 00:17:36,560 Speaker 1: part of the partnership that we have with Caesar's and 345 00:17:36,760 --> 00:17:38,240 Speaker 1: the data that we get in the data that they 346 00:17:38,320 --> 00:17:40,560 Speaker 1: get in the sharing of that UM Those are the 347 00:17:40,600 --> 00:17:42,520 Speaker 1: kind of things that I'm most excited about. But I 348 00:17:42,840 --> 00:17:45,800 Speaker 1: think all of us right now are no pun intended 349 00:17:45,800 --> 00:17:48,000 Speaker 1: placing bets on what we think the future will be, 350 00:17:48,240 --> 00:17:49,840 Speaker 1: and we're just gonna have to sort of ride this 351 00:17:49,880 --> 00:17:52,040 Speaker 1: out and see where it goes. Well, can you tell 352 00:17:52,080 --> 00:17:53,679 Speaker 1: us about the data that you and that you and 353 00:17:53,680 --> 00:17:55,720 Speaker 1: Caesar's are kind of moving back and forth as part 354 00:17:55,720 --> 00:17:58,480 Speaker 1: of that partnership, because there's also a studio in Caesar's 355 00:17:58,520 --> 00:18:00,639 Speaker 1: in a sports book in Las Vegas. Yeah, we have 356 00:18:00,760 --> 00:18:03,480 Speaker 1: we that's exactly right. We have seven content studio there. 357 00:18:03,480 --> 00:18:05,320 Speaker 1: We have a number of premium shows that we're rolling out. 358 00:18:05,359 --> 00:18:07,560 Speaker 1: We've started to integrate them into things like inside the 359 00:18:07,640 --> 00:18:10,000 Speaker 1: NBA and and doing activations in and around you know, 360 00:18:10,080 --> 00:18:13,480 Speaker 1: our Summer League events there for the jump off, which 361 00:18:13,560 --> 00:18:16,720 Speaker 1: is the activation we have. UM. I won't get too 362 00:18:16,760 --> 00:18:19,159 Speaker 1: deep into the data before I get over my skis 363 00:18:19,160 --> 00:18:21,240 Speaker 1: and have somebody back in the office like crying that 364 00:18:21,280 --> 00:18:23,439 Speaker 1: I didn't ask them exactly how we're using it. UM. 365 00:18:23,960 --> 00:18:28,000 Speaker 1: I will say this, UM on our app one of 366 00:18:28,000 --> 00:18:31,120 Speaker 1: the biggest advantages that we have against any other media company, 367 00:18:31,560 --> 00:18:34,520 Speaker 1: uh in the world outside of I think Bloomberg, because 368 00:18:34,520 --> 00:18:38,200 Speaker 1: again the terminals, UM, we have this advantage of having 369 00:18:38,240 --> 00:18:41,840 Speaker 1: an app with an intensity of engagement. So UM, you know, 370 00:18:41,840 --> 00:18:43,720 Speaker 1: we have nine and a half million consumers opted in 371 00:18:43,920 --> 00:18:45,840 Speaker 1: and we have a ton of first party data. How 372 00:18:45,880 --> 00:18:48,840 Speaker 1: did you require them? How do wed you require those? 373 00:18:48,640 --> 00:18:52,760 Speaker 1: Those standard means that there's no you know, marketing basically 374 00:18:52,800 --> 00:18:56,000 Speaker 1: direct marketing and word of mouth. Um, but we're starting 375 00:18:56,000 --> 00:18:58,720 Speaker 1: to layer features and functionality in there now that are 376 00:18:58,720 --> 00:19:01,879 Speaker 1: really exciting. We have our our fire button, which is 377 00:19:01,880 --> 00:19:03,560 Speaker 1: our version of the like button. We have comments, we're 378 00:19:03,560 --> 00:19:06,000 Speaker 1: hosting m as inside of the app. So I give 379 00:19:06,000 --> 00:19:09,600 Speaker 1: you an example, Um, Julian Edilman comes on and we 380 00:19:09,680 --> 00:19:12,439 Speaker 1: just push out alerts telling people Julian Anilman's coming on 381 00:19:12,480 --> 00:19:14,800 Speaker 1: for an m A. This is the second one we've done. 382 00:19:14,800 --> 00:19:17,280 Speaker 1: The first one with run our test around a documentary 383 00:19:17,320 --> 00:19:20,080 Speaker 1: we did for with Showtime called A Quiet Storm, which 384 00:19:20,119 --> 00:19:23,160 Speaker 1: if you haven't seen it as really good. Um. So 385 00:19:23,400 --> 00:19:25,880 Speaker 1: we did this one with Julian Edelman and we ended 386 00:19:25,920 --> 00:19:27,800 Speaker 1: up getting on Reddit. We average when we do an 387 00:19:27,800 --> 00:19:30,840 Speaker 1: a m A about questions inside of our own app, 388 00:19:31,000 --> 00:19:33,840 Speaker 1: with only pushing out through our own channels for our app, 389 00:19:34,040 --> 00:19:38,400 Speaker 1: we end up getting fifty questions for that A m A. So, UM, 390 00:19:38,520 --> 00:19:41,040 Speaker 1: we believe the intensity of data we have, the intensity 391 00:19:41,040 --> 00:19:44,200 Speaker 1: of connection we have to the fan becomes really opportunistic 392 00:19:44,200 --> 00:19:46,560 Speaker 1: for not how much data about your customers do you 393 00:19:46,560 --> 00:19:49,760 Speaker 1: have and how to utilize it? Yeah, so we've been Um, 394 00:19:49,840 --> 00:19:52,359 Speaker 1: we have a fair amount. We're these are a lot 395 00:19:52,400 --> 00:19:55,760 Speaker 1: of conversations we have internally about being responsible about that data. 396 00:19:56,080 --> 00:19:58,199 Speaker 1: We're not sharing it with anyone externally. We we we 397 00:19:58,280 --> 00:20:01,040 Speaker 1: are um like, for example, I can't tell you exactly 398 00:20:01,040 --> 00:20:02,560 Speaker 1: what you're doing day to day, and I won't tell 399 00:20:02,600 --> 00:20:04,920 Speaker 1: anyone else exactly what you're doing day to day, but 400 00:20:05,240 --> 00:20:08,320 Speaker 1: I do know this that Um, the further we get 401 00:20:08,400 --> 00:20:11,680 Speaker 1: down into that, we we have started authentication. Authentication is 402 00:20:11,760 --> 00:20:16,760 Speaker 1: quite different than a paid subscription. But the reason sports 403 00:20:16,760 --> 00:20:19,800 Speaker 1: are inherently social, right, and so the way that we 404 00:20:19,920 --> 00:20:21,840 Speaker 1: be you know, move out of just being a traditional 405 00:20:21,840 --> 00:20:24,760 Speaker 1: publishing app and start to become more of a social 406 00:20:24,800 --> 00:20:28,720 Speaker 1: media network onto itself is by you, by our community 407 00:20:28,760 --> 00:20:30,679 Speaker 1: inviting their friends, and so the way that you do 408 00:20:30,720 --> 00:20:33,440 Speaker 1: that is through authentication. In the last nine months, we've 409 00:20:33,440 --> 00:20:37,440 Speaker 1: had almost three million consumers authenticate inside of the app, 410 00:20:37,480 --> 00:20:39,919 Speaker 1: and so it is proving out for us. With some 411 00:20:40,000 --> 00:20:42,360 Speaker 1: of the other features and functionality will be releasing through 412 00:20:42,400 --> 00:20:44,920 Speaker 1: the end of the year. Um that I think we're 413 00:20:44,920 --> 00:20:47,720 Speaker 1: onto something and that consumers are willing to participate in, 414 00:20:47,720 --> 00:20:50,080 Speaker 1: willing to invite their friends, and willing to take the 415 00:20:50,480 --> 00:20:53,359 Speaker 1: love they have for sports out of just SMS or 416 00:20:53,400 --> 00:20:56,119 Speaker 1: out of other social networks. And pull it into Bleacher 417 00:20:56,160 --> 00:20:58,520 Speaker 1: Report and start to have those conversations there. If I 418 00:20:58,600 --> 00:21:00,919 Speaker 1: was an executive, I'll pick a random team, the New 419 00:21:00,960 --> 00:21:05,399 Speaker 1: York Jets. Could you kind of go by, don't I'm 420 00:21:05,440 --> 00:21:07,359 Speaker 1: not going anywhere. I'm not going anywhere. I mean, could 421 00:21:07,400 --> 00:21:11,120 Speaker 1: you go through? But could you go through the data 422 00:21:11,160 --> 00:21:14,640 Speaker 1: that you guys have and and maybe the viewership patterns 423 00:21:15,080 --> 00:21:17,560 Speaker 1: or what people who read Jets content are looking through 424 00:21:17,600 --> 00:21:20,080 Speaker 1: and tell me something about the team or about my 425 00:21:20,160 --> 00:21:22,560 Speaker 1: fans that I might not know yet. Absolutely. In fact, 426 00:21:22,720 --> 00:21:24,040 Speaker 1: one of the best examples I could give you is 427 00:21:24,080 --> 00:21:28,160 Speaker 1: when we did the partnership with UEFA UM we UH 428 00:21:28,440 --> 00:21:30,600 Speaker 1: use the data we have inside of the app to 429 00:21:30,720 --> 00:21:35,280 Speaker 1: better understand the elements of the consumer behavior and then 430 00:21:35,320 --> 00:21:39,080 Speaker 1: figure out really truly that there was a high similarity 431 00:21:39,119 --> 00:21:42,439 Speaker 1: between the behavior of NBA fans and of soccer fans, 432 00:21:42,600 --> 00:21:44,440 Speaker 1: and so we use that to get a better understanding 433 00:21:44,440 --> 00:21:46,719 Speaker 1: of the potential deal that we're bidding on. And then 434 00:21:46,760 --> 00:21:50,000 Speaker 1: how we would you know, create UM content to make 435 00:21:50,000 --> 00:21:52,159 Speaker 1: that actionable for fans, to spread it out so that 436 00:21:52,200 --> 00:21:56,320 Speaker 1: we can convert fans of other sports over to UH 437 00:21:56,520 --> 00:21:59,840 Speaker 1: you afa, we are chatting with Howard Bitman, CEO Bleach report. 438 00:22:00,480 --> 00:22:02,879 Speaker 1: What don't you have that you wish you did have 439 00:22:05,000 --> 00:22:07,760 Speaker 1: five years ago? If you ask someone it be are 440 00:22:07,840 --> 00:22:13,840 Speaker 1: that question, the answer would be network. You know, there's 441 00:22:13,920 --> 00:22:17,280 Speaker 1: just a ridiculous amount of content that you can package up. 442 00:22:17,280 --> 00:22:19,399 Speaker 1: There's a lot of like AutoPlay pre role that you 443 00:22:19,440 --> 00:22:22,680 Speaker 1: can run. We run very little, almost no pre roll. 444 00:22:22,960 --> 00:22:26,320 Speaker 1: Kids don't like it from what I'm told. Um, but yeah, 445 00:22:26,400 --> 00:22:27,760 Speaker 1: five years ago, that would have been the thing we 446 00:22:27,800 --> 00:22:31,080 Speaker 1: don't have today. UM, I'm really glad that we don't 447 00:22:31,119 --> 00:22:34,479 Speaker 1: have that. UM. We have br Live which is our 448 00:22:34,520 --> 00:22:37,560 Speaker 1: OTT product. Over time, UM, you'll start to see some 449 00:22:37,640 --> 00:22:40,640 Speaker 1: changes to that where they come together. Um. And so 450 00:22:40,720 --> 00:22:43,720 Speaker 1: in a world where live sports is at a premium, 451 00:22:43,720 --> 00:22:46,639 Speaker 1: where live sports isn't you know incredible opportunity to achieve 452 00:22:46,680 --> 00:22:51,000 Speaker 1: CPM and reach a really great, attractive demo two to 453 00:22:51,080 --> 00:22:53,040 Speaker 1: three hours a day, that's what you get out of 454 00:22:53,720 --> 00:22:56,560 Speaker 1: and it's expensive, right. And so what we have is, um, 455 00:22:56,600 --> 00:22:58,840 Speaker 1: we already have shoulder programing. We know how to entertain 456 00:22:58,880 --> 00:23:01,360 Speaker 1: consumers for the other twenty two hours a day, which 457 00:23:01,400 --> 00:23:03,159 Speaker 1: is very different from what most of the other O 458 00:23:03,280 --> 00:23:06,360 Speaker 1: T T platforms are doing. Is they convert basic linear 459 00:23:06,400 --> 00:23:10,359 Speaker 1: principles into a digital format. UM, as we're working with UEFA, 460 00:23:10,480 --> 00:23:11,920 Speaker 1: and as we're working with the NBA, and as we're 461 00:23:11,920 --> 00:23:15,199 Speaker 1: working with um National Lacrosse League in the you know, 462 00:23:15,400 --> 00:23:17,840 Speaker 1: arm Wrestling Federation and a whole long tale of World 463 00:23:17,920 --> 00:23:20,679 Speaker 1: Surf League and others. UM we like our chances to 464 00:23:20,680 --> 00:23:22,720 Speaker 1: be able to engage consumers with live sports and then 465 00:23:22,760 --> 00:23:25,960 Speaker 1: also provide that platform for them where they have a 466 00:23:26,000 --> 00:23:28,080 Speaker 1: reason to come back when there's not a live game on. 467 00:23:28,119 --> 00:23:30,520 Speaker 1: Do we need to say hid to Nikovich and Sophie 468 00:23:30,560 --> 00:23:33,000 Speaker 1: Golschman as well for friends of the program. I believe 469 00:23:33,000 --> 00:23:36,040 Speaker 1: they're listeners? How much well? I said the brand? Do 470 00:23:36,080 --> 00:23:37,600 Speaker 1: you not say brands? By the way, do not say 471 00:23:37,640 --> 00:23:42,320 Speaker 1: competitor brands at all? Didn't say ESPN earlier. That's the 472 00:23:42,440 --> 00:23:43,679 Speaker 1: thing I didn't. I didn't know if it is. And 473 00:23:43,720 --> 00:23:47,520 Speaker 1: that's fine, No, it's no, I don't know. Maybe I'm 474 00:23:47,520 --> 00:23:49,679 Speaker 1: just being coy. You intimidate me, I think, oh, yeah, right, 475 00:23:49,720 --> 00:23:51,760 Speaker 1: that is I'm so intimidate anyone here on the microphone. 476 00:23:51,840 --> 00:23:54,840 Speaker 1: But what's the incoming traffic look like in a world 477 00:23:54,960 --> 00:23:58,200 Speaker 1: where and I know Facebook is open to any annull partnership. Yeah, 478 00:23:58,400 --> 00:24:01,240 Speaker 1: what's the incoming traffic saying hey, I want a piggyback, 479 00:24:01,280 --> 00:24:03,120 Speaker 1: I want a piece of this. How can I help 480 00:24:03,160 --> 00:24:06,199 Speaker 1: my brand? How can we be synergistic here? Yeah, we 481 00:24:06,200 --> 00:24:08,840 Speaker 1: we see ourselves as a platform. So we're we're you know, 482 00:24:08,880 --> 00:24:11,840 Speaker 1: we are an enormous traffic driver, usually in most instances 483 00:24:11,840 --> 00:24:14,160 Speaker 1: the number one and number two traffic driver to any 484 00:24:14,200 --> 00:24:16,520 Speaker 1: of the competitive brands that you've mentioned or that you 485 00:24:16,520 --> 00:24:19,080 Speaker 1: could mention, And so that that's part of our aggregation 486 00:24:19,119 --> 00:24:21,720 Speaker 1: strategy and that we've had forever. What we've done a 487 00:24:21,720 --> 00:24:23,800 Speaker 1: really nice job of over the last three years is 488 00:24:24,080 --> 00:24:26,960 Speaker 1: build up a reasonably comprehensive and and you know well 489 00:24:27,000 --> 00:24:29,840 Speaker 1: thought of uh content business on our own and so 490 00:24:29,960 --> 00:24:33,120 Speaker 1: putting the power of those two together, UM has been 491 00:24:33,160 --> 00:24:35,479 Speaker 1: great for consumers and driven a lot of the growth 492 00:24:35,520 --> 00:24:38,280 Speaker 1: to the app that you mentioned. But if you're you know, 493 00:24:38,280 --> 00:24:41,880 Speaker 1: if you're a competitive brand, UM, I think you enjoy 494 00:24:41,960 --> 00:24:44,320 Speaker 1: the traffic we get and you're okay with it. Uh, 495 00:24:44,560 --> 00:24:46,880 Speaker 1: I can't speak for them. If you're a platform, UM, 496 00:24:46,880 --> 00:24:49,480 Speaker 1: we're spread out reasonably equally across the platform, so that 497 00:24:49,520 --> 00:24:52,360 Speaker 1: we're I think about eight or nine percent of our 498 00:24:52,440 --> 00:24:56,800 Speaker 1: social traffic comes on Facebook. Uh. Now, so we feel 499 00:24:57,160 --> 00:25:01,439 Speaker 1: reasonably well protected against you algorithms that go bump in 500 00:25:01,440 --> 00:25:03,840 Speaker 1: the middle of the night to shift gears. For a 501 00:25:03,840 --> 00:25:08,040 Speaker 1: second last year, over Thanksgiving, you guys broadcast the Tiger 502 00:25:08,160 --> 00:25:11,800 Speaker 1: versus Phil golf event, you know, a one off, one 503 00:25:11,920 --> 00:25:14,600 Speaker 1: versus one, very different kind of event. You know, the 504 00:25:14,680 --> 00:25:18,040 Speaker 1: gambling was integrated, the guys were miked up. It got 505 00:25:18,040 --> 00:25:21,280 Speaker 1: a lot of people thinking about whether that was a 506 00:25:21,359 --> 00:25:24,159 Speaker 1: format that could be used outside of just golf. Do 507 00:25:24,200 --> 00:25:25,840 Speaker 1: you kind of see a future in in more of 508 00:25:25,880 --> 00:25:29,720 Speaker 1: these things, whether it's Federal versus Nadal pick your two stars, 509 00:25:30,200 --> 00:25:32,119 Speaker 1: kind of doing a one off pay per view event 510 00:25:32,200 --> 00:25:36,480 Speaker 1: that that that people will tune in to watch. Yeah, 511 00:25:36,760 --> 00:25:38,760 Speaker 1: I think I think we proved a lot in that. 512 00:25:38,880 --> 00:25:41,960 Speaker 1: I think we proved to us truthfully that Bleacher Report 513 00:25:42,119 --> 00:25:44,200 Speaker 1: could use its social channels and its app to drive 514 00:25:44,240 --> 00:25:49,159 Speaker 1: a significant golf audience. We had a million viewers watching concurrently. Unfortunately, 515 00:25:49,200 --> 00:25:51,560 Speaker 1: not all of them were paid because, by the way, 516 00:25:51,600 --> 00:25:55,719 Speaker 1: don't I wouldn't think overlap. They don't know, Um, but 517 00:25:55,760 --> 00:26:00,600 Speaker 1: we we that was interesting to us. Um Our intuition 518 00:26:00,680 --> 00:26:03,720 Speaker 1: was that it might not work. Um it did we 519 00:26:03,840 --> 00:26:06,600 Speaker 1: prove that consumers like those live sports moments, that that 520 00:26:06,760 --> 00:26:09,720 Speaker 1: the betting elements have the opportunity to change the landscape 521 00:26:09,760 --> 00:26:13,720 Speaker 1: of how live sports evolved. There are a lot of challenges, 522 00:26:13,880 --> 00:26:16,040 Speaker 1: right you know, we worked with the p g A 523 00:26:16,160 --> 00:26:19,320 Speaker 1: on that. Um. It's very difficult for these players to 524 00:26:19,400 --> 00:26:22,200 Speaker 1: just go out and separate from the league's Um. Those 525 00:26:22,240 --> 00:26:25,159 Speaker 1: aren't conversations we're interested in having there. There could be 526 00:26:25,200 --> 00:26:27,600 Speaker 1: other entities that are willing to do that. I doubt 527 00:26:27,880 --> 00:26:31,760 Speaker 1: ESPN would either. UM. So the other thing that you 528 00:26:31,800 --> 00:26:35,480 Speaker 1: have to think about is like, what's the purpose of it? Right? UM, 529 00:26:35,560 --> 00:26:37,560 Speaker 1: you can make some money on it, The question is 530 00:26:37,680 --> 00:26:41,320 Speaker 1: the money worth the effort? Because it's a sizeable undertaking, 531 00:26:41,400 --> 00:26:46,160 Speaker 1: right um around all areas of the business start with 532 00:26:46,400 --> 00:26:51,480 Speaker 1: you know, production and promotion and marketing and sales and so. UM. 533 00:26:52,160 --> 00:26:54,080 Speaker 1: I think what we'll do is we'll continue to have 534 00:26:54,160 --> 00:26:57,800 Speaker 1: some of those experiences and opportunities, UM, but I think 535 00:26:57,880 --> 00:26:59,840 Speaker 1: we'll start to look at them differently. And I think 536 00:27:00,000 --> 00:27:04,959 Speaker 1: as we start to have live sports and experiences inside 537 00:27:05,040 --> 00:27:08,439 Speaker 1: of the core Bleacher Report app over time, this is 538 00:27:08,480 --> 00:27:11,600 Speaker 1: not a next twelve months thing. UM. I think we'll 539 00:27:11,640 --> 00:27:15,280 Speaker 1: evaluate them differently, not just as consumer entertainment or advertising 540 00:27:15,320 --> 00:27:19,280 Speaker 1: opportunities or just opportunities to drive viewership, but as marketing 541 00:27:19,280 --> 00:27:21,920 Speaker 1: opportunities to drive folks to the app itself. So let 542 00:27:21,920 --> 00:27:25,760 Speaker 1: your imagination run wild for a second. What's the dream scenario? 543 00:27:25,840 --> 00:27:29,919 Speaker 1: Is it? Katie versus Lebron one on one? Is Todd G? J. J. 544 00:27:30,000 --> 00:27:33,800 Speaker 1: Watt in Oklahoma Drill? It's you know, Rocky Balbo versus 545 00:27:33,840 --> 00:27:35,639 Speaker 1: thunder Lips, Like I think that that would be the 546 00:27:35,720 --> 00:27:40,119 Speaker 1: dream but twenty on Thunderlips. Yeah, I'd love to see 547 00:27:40,920 --> 00:27:44,440 Speaker 1: uh Duke Kentucky all the NBA players from Duke and 548 00:27:44,520 --> 00:27:47,000 Speaker 1: I'll play all the players from Kentucky. That that's not 549 00:27:47,040 --> 00:27:49,040 Speaker 1: my idea that's been circulated around br for a while. 550 00:27:49,080 --> 00:27:53,160 Speaker 1: Are founder you know, came up with that? But like, yeah, 551 00:27:53,200 --> 00:27:55,320 Speaker 1: that's the kind of thing I think. You know, if 552 00:27:55,359 --> 00:27:58,440 Speaker 1: you have league participation, you could start to do Who 553 00:27:58,520 --> 00:28:01,119 Speaker 1: who wouldn't want to watch that? The world where players 554 00:28:01,119 --> 00:28:03,399 Speaker 1: are you know, spending less time or great players sometimes 555 00:28:03,400 --> 00:28:06,280 Speaker 1: spending less time and in the college ranks, um, so 556 00:28:06,560 --> 00:28:08,400 Speaker 1: when and where you can do those kind of things 557 00:28:08,440 --> 00:28:12,399 Speaker 1: and take rivalries that exist already, which was the beauty 558 00:28:12,400 --> 00:28:16,000 Speaker 1: of Tiger Phil their their friends, but their rivals um 559 00:28:16,359 --> 00:28:19,119 Speaker 1: and and play that out. I think that there's a 560 00:28:19,280 --> 00:28:23,560 Speaker 1: storyline and a subplot to it that drives engagement pretty significantly. 561 00:28:23,680 --> 00:28:26,879 Speaker 1: Our league's creative or are daring enough to want to 562 00:28:26,920 --> 00:28:30,040 Speaker 1: do an idea like that. I don't know, I don't, 563 00:28:30,080 --> 00:28:32,320 Speaker 1: I don't. You have to ask them. I do think 564 00:28:32,400 --> 00:28:36,480 Speaker 1: what we're seeing now is is just massive disruption and 565 00:28:36,560 --> 00:28:39,880 Speaker 1: changing around the world of sports. Right, So we exist 566 00:28:39,880 --> 00:28:43,560 Speaker 1: to serve sports fans. We really, you know, secondarily exists 567 00:28:43,600 --> 00:28:47,000 Speaker 1: and make the life of sports fans easier. Right. We 568 00:28:47,040 --> 00:28:48,560 Speaker 1: want to make it as easy as possible for you 569 00:28:48,600 --> 00:28:50,880 Speaker 1: to follow the you know, players in the games that 570 00:28:50,920 --> 00:28:56,000 Speaker 1: you love. The traditional model started with the league, went 571 00:28:56,040 --> 00:28:58,760 Speaker 1: to the teams, then the players, and then the fans. 572 00:28:58,760 --> 00:29:00,800 Speaker 1: And what social media has done is sort of created 573 00:29:00,840 --> 00:29:03,360 Speaker 1: a point of connection to allow the players and the 574 00:29:03,400 --> 00:29:06,760 Speaker 1: fans to um speak more openly. And it's given the 575 00:29:06,760 --> 00:29:09,440 Speaker 1: players a bigger voice and a bigger platform. And so, 576 00:29:09,800 --> 00:29:13,200 Speaker 1: uh for us, we think that that evolution is one 577 00:29:13,400 --> 00:29:17,240 Speaker 1: that um allows the culture and the personality and the 578 00:29:17,840 --> 00:29:20,760 Speaker 1: off the court, you know, activities of the players to 579 00:29:21,000 --> 00:29:23,440 Speaker 1: matter as much to sports fans as it is what 580 00:29:23,440 --> 00:29:25,120 Speaker 1: they do on the court. And that just opens the 581 00:29:25,120 --> 00:29:27,800 Speaker 1: aperture of of who and what is defined as a 582 00:29:27,840 --> 00:29:30,400 Speaker 1: sports fan. I go back to MTV cribs. It was 583 00:29:30,440 --> 00:29:34,040 Speaker 1: the first people wanted that glimpse, so bullish orbarrass then 584 00:29:34,200 --> 00:29:36,640 Speaker 1: and we got about fifteen twenty seconds on the athletic 585 00:29:36,720 --> 00:29:40,479 Speaker 1: and opt in pay subscription, hyperlocal coverage of what you want. Um. 586 00:29:42,120 --> 00:29:44,120 Speaker 1: I think it's an interesting business. I think they do 587 00:29:44,200 --> 00:29:47,240 Speaker 1: great journalism. I'm full support of anyone that wants to 588 00:29:47,240 --> 00:29:51,280 Speaker 1: do great long form content. Um. The subscription model is 589 00:29:51,320 --> 00:29:53,400 Speaker 1: not one that I think can scale enough to a 590 00:29:53,400 --> 00:29:55,400 Speaker 1: point where it becomes relevant to us and the way 591 00:29:55,480 --> 00:29:57,400 Speaker 1: that we run our business. So I wouldn't expect us 592 00:29:57,480 --> 00:30:00,040 Speaker 1: to do that. But anyone who's out there trying to 593 00:30:00,040 --> 00:30:03,680 Speaker 1: make long form journalism stick and relevant in and beyond, 594 00:30:03,800 --> 00:30:07,160 Speaker 1: I applaud them. Although it's not a business I personally 595 00:30:07,160 --> 00:30:08,920 Speaker 1: want to be in. I'll be rooting for them, right. 596 00:30:08,960 --> 00:30:11,560 Speaker 1: That's how Admitment, CEO of Bleacher Report, Thanks how we're 597 00:30:11,560 --> 00:30:15,120 Speaker 1: coming in. Thanks for having Evan you listen to Howard. 598 00:30:15,240 --> 00:30:18,520 Speaker 1: You seem to think that they figured out what everybody 599 00:30:18,520 --> 00:30:22,040 Speaker 1: else in sports media and media in general is trying 600 00:30:22,040 --> 00:30:23,840 Speaker 1: to figure out. How do you get the kids to 601 00:30:23,880 --> 00:30:26,760 Speaker 1: come to your platform? Uh, you gotta recall It wasn't 602 00:30:26,800 --> 00:30:29,920 Speaker 1: so long ago where Bleacher Report was just sort of 603 00:30:29,960 --> 00:30:34,840 Speaker 1: this aggregation of folks on the web writing whatever they 604 00:30:34,840 --> 00:30:37,760 Speaker 1: wanted about whoever they wanted, just pumping. Yeah, you didn't 605 00:30:37,760 --> 00:30:39,800 Speaker 1: even know who they were, just people coming in, and 606 00:30:39,920 --> 00:30:42,320 Speaker 1: they were much maligned because it was it was that 607 00:30:42,440 --> 00:30:46,040 Speaker 1: sort of like it seemed like an unprofessional operation. And 608 00:30:46,080 --> 00:30:48,520 Speaker 1: then you blink and here we are as part of 609 00:30:48,560 --> 00:30:50,840 Speaker 1: the bigger pair and Warner Media a T and T 610 00:30:51,800 --> 00:30:56,000 Speaker 1: streaming things like the Champions League, and and it's a 611 00:30:56,040 --> 00:31:00,200 Speaker 1: brand name and bordering on sort of a lifestyle ran 612 00:31:00,280 --> 00:31:02,280 Speaker 1: for for people who go there for content. Yeah, so 613 00:31:02,320 --> 00:31:03,800 Speaker 1: I have two takeaways and one of them is is 614 00:31:03,840 --> 00:31:05,320 Speaker 1: kind of what you touched on right there. It's clear 615 00:31:05,360 --> 00:31:08,000 Speaker 1: that Bleacher Report is kind of blending this line between 616 00:31:08,040 --> 00:31:12,120 Speaker 1: being a publisher and being almost an entire social media ecosystem, right. 617 00:31:12,160 --> 00:31:14,240 Speaker 1: I mean he mentioned you know, the a m as 618 00:31:14,320 --> 00:31:17,800 Speaker 1: that that they're pushing out, you know, the comments sections, 619 00:31:18,200 --> 00:31:21,120 Speaker 1: the you know, the way they integrate on Instagram or 620 00:31:21,240 --> 00:31:23,760 Speaker 1: on Twitter House of highlights. So much of what they're 621 00:31:23,760 --> 00:31:25,920 Speaker 1: doing is is kind of built around being an entire 622 00:31:26,040 --> 00:31:28,960 Speaker 1: ecosystem for sports fans more so than just being a 623 00:31:28,960 --> 00:31:31,360 Speaker 1: place that people go to get which drops the bomb, 624 00:31:31,400 --> 00:31:33,959 Speaker 1: but the explosion happens on Bleacher And that's the second thing. 625 00:31:34,000 --> 00:31:36,840 Speaker 1: I thought that the example he gave about Anthony Davis 626 00:31:36,880 --> 00:31:39,080 Speaker 1: was fascinating, Right that that's a piece of news that 627 00:31:39,120 --> 00:31:42,280 Speaker 1: Bleacher Report did not break. But because of how fast 628 00:31:42,560 --> 00:31:45,640 Speaker 1: they were able to get their own content up and be, 629 00:31:45,640 --> 00:31:47,680 Speaker 1: because of how good they are at at putting out 630 00:31:47,680 --> 00:31:50,760 Speaker 1: content that people like, they were able to capitalize on 631 00:31:50,840 --> 00:31:53,160 Speaker 1: that piece of news that maybe even better than ESPNS. 632 00:31:53,200 --> 00:31:56,320 Speaker 1: It makes sense to say that they're proactive and reactive 633 00:31:56,320 --> 00:31:59,320 Speaker 1: at the same time. I think that's fair. Yeah, amazing, 634 00:31:59,600 --> 00:32:01,920 Speaker 1: but that's how they've managed to aggregate such an audience. 635 00:32:05,360 --> 00:32:07,280 Speaker 1: It feels better to be number one than number five. 636 00:32:07,320 --> 00:32:08,920 Speaker 1: I'll wear a number because of Mike. We have a 637 00:32:09,000 --> 00:32:10,800 Speaker 1: chance to go for three in a row, because numbers 638 00:32:10,800 --> 00:32:13,000 Speaker 1: in a good time. And let's first started wearing the number. 639 00:32:13,080 --> 00:32:17,040 Speaker 1: How would just have floomberg business of sports? The number 640 00:32:17,080 --> 00:32:19,160 Speaker 1: of the week? Time now for the number of the week, 641 00:32:19,200 --> 00:32:21,600 Speaker 1: and Scott we kind of talked about it before. I 642 00:32:21,600 --> 00:32:24,720 Speaker 1: actually don't know if you've happens with bar I suggested something, 643 00:32:24,720 --> 00:32:26,360 Speaker 1: but I don't know. So are our number of the 644 00:32:26,360 --> 00:32:29,040 Speaker 1: week is thirty two. I do remember, now, Yeah, it 645 00:32:29,160 --> 00:32:32,000 Speaker 1: is the the expansion of the Women's World Up. Didn't 646 00:32:32,000 --> 00:32:34,680 Speaker 1: even give me a chance to say, starting in three, 647 00:32:34,760 --> 00:32:37,480 Speaker 1: the Women's broke Up will be expanding from twenty four 648 00:32:37,760 --> 00:32:40,240 Speaker 1: to thirty two teams. What does this mean for the 649 00:32:40,280 --> 00:32:44,120 Speaker 1: pay inequity debate? I would think more teams, more money 650 00:32:44,160 --> 00:32:47,240 Speaker 1: and how how does that face? I mean, it's unclear 651 00:32:47,280 --> 00:32:51,400 Speaker 1: that this certainly means more games, right, so maybe in 652 00:32:51,440 --> 00:32:54,920 Speaker 1: the next round of negotiations the property might be a 653 00:32:54,960 --> 00:32:59,000 Speaker 1: little more valuable. Um, this was by most accounts. And 654 00:32:59,120 --> 00:33:03,440 Speaker 1: certainly that thirty nothing us win. It doesn't sticks out 655 00:33:03,440 --> 00:33:08,920 Speaker 1: a lot. But this was my most accounts, the most, 656 00:33:08,960 --> 00:33:12,760 Speaker 1: you know, the most even the most balanced competitive Women's 657 00:33:12,800 --> 00:33:15,560 Speaker 1: World Cup that we've ever seen. So certainly there is 658 00:33:15,600 --> 00:33:18,160 Speaker 1: an appetite out there, I think for forgetting a few 659 00:33:18,200 --> 00:33:20,800 Speaker 1: more teams in. Don't forget that the Men's World Cup 660 00:33:20,840 --> 00:33:25,920 Speaker 1: is also expanding from thirty to starting for the World 661 00:33:25,960 --> 00:33:29,560 Speaker 1: Cup that's being held here in North America. Um, good idea, 662 00:33:29,680 --> 00:33:31,959 Speaker 1: bad idea? What do we think here? I don't know, 663 00:33:32,080 --> 00:33:34,880 Speaker 1: But what I will tell you is what I've been 664 00:33:34,920 --> 00:33:38,160 Speaker 1: saying for a while. I'm waiting to see who the 665 00:33:38,200 --> 00:33:42,240 Speaker 1: really smart person is that is going to aggregate women's sports, 666 00:33:42,880 --> 00:33:46,760 Speaker 1: roll it all up, whether it's the women's hockey, women's soccer, 667 00:33:47,360 --> 00:33:51,120 Speaker 1: take control of the entire thing. The ecosystem of women's 668 00:33:51,120 --> 00:33:53,840 Speaker 1: sports set for now on one offs is not profitable, 669 00:33:53,880 --> 00:33:56,120 Speaker 1: and nobody seems to find a way to work and 670 00:33:56,200 --> 00:33:59,160 Speaker 1: make that work on a grand scale. I agree with that. 671 00:33:59,200 --> 00:34:02,040 Speaker 1: Four years ago, when Carly Lloyd scored those goals against Japan, 672 00:34:02,040 --> 00:34:04,000 Speaker 1: it felt like a kind of a turning point for 673 00:34:04,000 --> 00:34:07,480 Speaker 1: for women's sports, especially here in America. Flash forward four 674 00:34:07,480 --> 00:34:10,239 Speaker 1: more years, they win again and an even bigger kind 675 00:34:10,239 --> 00:34:12,640 Speaker 1: of ground swell. No reason to think that that will 676 00:34:12,920 --> 00:34:16,080 Speaker 1: dissipate or at least, you know, moving forward another four years, 677 00:34:16,080 --> 00:34:18,600 Speaker 1: it could be an even even bigger deal. So I'm 678 00:34:18,640 --> 00:34:20,319 Speaker 1: with you, Yeah, I think that the time is right 679 00:34:20,400 --> 00:34:24,160 Speaker 1: right now for maybe more investment into women's sport to 680 00:34:24,239 --> 00:34:28,239 Speaker 1: see if you know, the revenue then then flows and 681 00:34:28,239 --> 00:34:30,080 Speaker 1: and expansion of the Women's World Cup is just one 682 00:34:30,120 --> 00:34:33,640 Speaker 1: of kind of a much larger possibility there. All right, sir, 683 00:34:33,880 --> 00:34:36,440 Speaker 1: you have been listening to Bloomberg Business of Sports. We 684 00:34:36,520 --> 00:34:39,640 Speaker 1: are here every week at the same time plus online 685 00:34:39,680 --> 00:34:44,399 Speaker 1: as podcast with new episodes Monday's, Wednesdays and Thursdays. I'm 686 00:34:44,400 --> 00:34:48,000 Speaker 1: Scott Sashnik on Twitter at, I'm Evan Novi Williams at 687 00:34:48,120 --> 00:34:50,880 Speaker 1: nov Underscore Williams. Thanks for joining us. Please tune in 688 00:34:50,920 --> 00:34:53,720 Speaker 1: next week when we speak with private equity big wig 689 00:34:53,920 --> 00:34:57,080 Speaker 1: Mark Iin invested in tennis E sports, among a number 690 00:34:57,120 --> 00:34:59,480 Speaker 1: of other things, building tennis. Let's see how he did that. 691 00:34:59,560 --> 00:35:02,240 Speaker 1: You are listening to Bloomberg Business of Sports from Bloomberg 692 00:35:02,280 --> 00:35:03,280 Speaker 1: Radio around the world.