Barstool Sports Sorting Out Future Of Subscription Business
Barstool Sports CEO Erika Nardini said that the company "continues to sort out the future of its subscription business," according to Tim Peterson of DIGIDAY. Nardini noted that includes "what content to put behind the paywall and whether to introduce other subscription products." Barstool has "sold more than 30,000 people on its Barstool Gold subscription product." Barstool introduced the product in January and "sold more than 10,000 subscriptions within the first three days of the program's debut." Of the more than 30,000 people that currently subscribe to Barstool Gold, 80% "signed up for the annual plan, and roughly 60% of total subscribers signed up for the higher-price 'hardcore' tier." The future of Barstool Sports' subscription business is "somewhat in flux as Barstool wrestles with how to build a recurring revenue stream for its business while building a big fan base for its talent." Peterson notes the future of Barstool Sports as a whole also is "still to be determined." The Chernin Group is "considering selling a majority or minority stake in the publisher to a sports gambling company." Asked about the acquisition talks, Nardini said they are "talking to a ton of people." She added that Barstool Sports is "profitable but declined to discuss revenue figures." Instead, she "sees the publisher as being a better fit with a sports gambling company and noted that 60% of Barstool Sports' audience are bettors" (DIGIDAY.com, 12/3).