Veteran sports and media marketer Chris Russo is looking to capitalize on the trends in media technology and finance in launching Fifth Generation Sports, a boutique agency with capabilities in marketing, research, digital and social media with access to investment capital.
The name Fifth Generation comes from Russo’s contention that sports media has entered its fifth generation. The first generation was radio; the second was broadcast TV; the third was cable TV; the fourth was Internet 1.0; and the fifth generation is social and mobile, where more consumption is digitally driven, but monetization is still largely through traditional media and sponsorship.
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Chris Russo’s Fifth Generation Sports will offer access to capital through Mesa Global.
Photo by: MARC BRYAN-BROWN
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Russo, who oversaw new media at the NFL during the formative years of the Internet before becoming chairman of the Fantasy Sports Ventures roll-up, is now putting his stake in the ground at the intersection of technology and sports, looking to create a family of complementary businesses based on his wealth of digital sports knowledge.
“There’s just a demand for knowledge about sports and technology from all sides of the business world, which we think combines well with banking and consulting opportunities,” Russo said.
With digital elements now driving many media and sports transactions, the new agency will offer access to capital through a relationship with boutique investment bank Mesa Global, which sold Big Lead Sports to Gannett and assisted in FanDuel’s recent $70 million funding round with KKR, Shamrock and NBC Sports.
Russo said that Mesa Global does not have any equity in the company.
Fifth Generation is based in New York City and also will offer consumer and custom research capabilities for properties, brands and media on growing sectors such as pay fantasy, social, mobile, in-stadium technology and sports gambling.
Russo is working with The Bootstrap Collective analytics executive Steve Raymond, who went to the MIT Sloan School of Management and is formerly of USA Today Sports Media Group and ESPN.
In forming the new agency, Russo will roll in his current consulting business, CR Media Ventures, which has clients that include the Washington Wizards, Breeders’ Cup, Pro Football Focus and FastModel Sports.
