Alexis Ohanian's Big Bet On Track And Field

Key Concepts:

• Athlos: A proposed women's track and field league.
• Emerging Sports: Sports leagues and teams that are in the early stages of development and growth.
• Media Rights: The rights to broadcast or distribute sports events, typically a major source of revenue for leagues.
• Brand Partnerships: Collaborations between sports leagues/teams and established brands for mutual benefit.
• Direct-to-Consumer (DTC): A business model where companies sell products or services directly to consumers without intermediaries.
• Social-First Strategy: Prioritizing social media platforms for content distribution and audience engagement.
• Team-Based Model: A league structure where athletes compete as part of teams, fostering team loyalty and fan engagement.
• Inner Circle: A social network designed for track and field athletes to address online harassment.
• Church and State: Maintaining a clear separation between personal and professional investments.
• Feed Equation: The concept that compelling content, especially on social media feeds, drives attention and interest.
• Sports Tech: Technology solutions and innovations designed for the sports industry.

1. Athlos: Building a Women's Track and Field League

• Main Idea: The primary focus is on the creation of Athlos, a women's track and field league, capitalizing on the sport's popularity during the Olympics and extending it year-round.
• Key Points:
  • The league aims to elevate track and field athletes into household names, providing them with prime-time exposure and high-quality partnerships.
  • Athlos is inspired by the success of Angel City in women's soccer, aiming to replicate that model in track and field.
  • Track and field is considered the "OG sport," a fundamentally human activity relatable to everyone.
  • The league will incorporate responsible sports betting through a partnership with DraftKings.
  • The league is set to launch in 2026.
• Examples:
  • Angel City: A successful women's soccer team used as a model for Athlos.
  • Formula One: A sport that gained popularity in the US through storytelling, similar to what Athlos aims to achieve.
  • NCAA track and field: Athlos is modeling its point system after NCAA track and field.
• Notable Quotes:
  • "Women's sports is not a charity...it is a tremendous business opportunity."
  • "These athletes...are far more compelling, far more telegenic, far more interesting and better, more natural storytellers, and they're digital native."

2. Monetization and Media Strategy

• Main Idea: The discussion centers on the revenue generation strategy for Athlos, focusing on brand partnerships and a broad media distribution approach.
• Key Points:
  • The initial strategy prioritizes brand partnerships over traditional media rights deals due to the challenges of securing lucrative deals for an emerging league.
  • Tiffany & Co. is a key brand partner, designing crowns for the winners to establish a premium image.
  • Toyota is another significant brand partner, returning for a second year.
  • The media strategy emphasizes breadth and reach, opting for distribution on platforms like ESPN+, Tubi, and YouTube over exclusivity.
  • The goal is to ensure that fans can watch Athlos athletes anywhere with an internet connection.
• Examples:
  • Tiffany & Co.: Designing crowns to create a premium brand association.
  • Toyota: A returning brand partner, highlighting the success of the initial event.
• Step-by-Step Processes:
  • Brand-First Approach: Prioritizing brand partnerships to establish credibility and generate revenue.
  • Breadth over Depth: Opting for wide media distribution to maximize audience reach.

3. League Structure and Team Ownership

• Main Idea: The league will be modeled after NCAA track and field, with a team-based structure and a point system.
• Key Points:
  • Athletes will compete on teams, fostering team loyalty and fan engagement.
  • The league will likely start with events in three cities, with New York City as a home base.
  • Fans will be able to support their favorite athletes and teams by wearing team jerseys.
  • The league will initially be owned by the organizers, with plans to bring in outside owners later.
  • Athletes like Gabby Thomas, Sha'Carri Richardson, and Tara Davis-Woodhall are not only stars of the league but also part owners and advisors.
• Examples:
  • Lewis Hamilton and Ferrari: Analogy used to explain the team-based model, where fans can support individual athletes and teams.
• Step-by-Step Processes:
  • Initial Ownership: Launching the league with internal ownership to establish the brand and identity.
  • Phased Transition: Gradually introducing outside owners once the league has gained momentum.

4. Investment in Emerging Sports

• Main Idea: The discussion explores the rationale behind investing in emerging sports, highlighting the untapped potential and the opportunity to build billion-dollar enterprises.
• Key Points:
  • The initial investment in women's soccer was driven by the perception that the sport was undervalued, despite its popularity and the star power of its athletes.
  • The lack of investment and business acumen in early women's soccer teams was a significant opportunity.
  • Social media is a key indicator of potential, with viral highlights and large followings signaling strong fan interest.
  • Emerging sports offer a chance to implement technology and innovation from the ground up.
• Examples:
  • Megan Rapinoe: Her brand value was used as a benchmark to assess the undervaluation of women's soccer teams.
  • Angel City: A case study of a successful women's soccer team built with a business-first approach.
• Notable Quotes:
  • "I live to build billion dollar companies, anything less is just not interesting."
  • "Social media is my signal. That is the heat that I look for."

5. Technology and Innovation in Sports

• Main Idea: The conversation shifts to the role of technology in enhancing the sports experience, both for athletes and fans.
• Key Points:
  • Athlos is launching a social network called "Inner Circle" to address online harassment faced by athletes.
  • Technology is used to tell athlete stories and create direct-to-consumer content.
  • Even subtle improvements, like redesigned bibs for female runners, can significantly enhance the athlete experience.
  • The league is exploring innovative track designs and camera angles to create a more engaging viewing experience.
  • Sports tech is now open for business, with emerging sports providing a testing ground for new technologies.
• Examples:
  • Inner Circle: A social network designed to provide a safe and supportive online environment for athletes.
  • ScorePlay: A sports tech company that was invested in and scaled up through the NWSL.
  • TGL Camera Angles: Unique camera angles in TGL that are not possible in traditional golf tournaments.

6. Investment Strategies and Market Analysis

• Main Idea: The discussion covers investment strategies, market analysis, and the potential for growth in emerging sports.
• Key Points:
  • Investments are kept separate between personal and spousal ventures ("church and state").
  • The speaker passed on pickleball due to its lack of aspirational energy and viral potential.
  • The proliferation of AI-generated content makes live sports a durable form of entertainment.
  • The younger generation consumes sports differently, favoring bite-sized content and social media engagement.
  • The market for women's sports is still largely untapped, with significant growth potential.
• Examples:
  • Pickleball: A sport that was passed on due to its lack of viral appeal and aspirational energy.
  • TGL: A simulator golf league that exceeded expectations due to its entertainment value and unique camera angles.
• Notable Quotes:
  • "Sport matters because it's humans doing it. And so every other form of entertainment that's competing for attention is going to have a much harder time."

Synthesis/Conclusion:

The conversation outlines a comprehensive strategy for building a successful women's track and field league (Athlos) by focusing on brand partnerships, broad media distribution, and a team-based model. It emphasizes the untapped potential of women's sports and the importance of leveraging technology and social media to engage fans. The speaker's investment philosophy centers on identifying undervalued assets, building strong brands, and creating compelling content that resonates with a new generation of sports fans. The key takeaway is that emerging sports, particularly women's sports, represent a significant business opportunity with the potential for substantial growth and innovation.