<p><img src="https://static6.businessinsider.com/image/6082e1764becb800190f6d02-1110/gettyimages-1209920741.jpg" border="0" alt="overtime sports dan porter CEO" data-mce-source="John Nowak/SportsPro via Getty Images"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Sports-media startup Overtime has raised $80 million from investors including Amazon founder Jeff Bezos, rapper Drake, and Reddit cofounder Alexis Ohanian, <a href="https://www.wsj.com/articles/overtime-raises-80-million-from-jeff-bezos-drake-nba-stars-and-others-11619087409">The Wall Street Journal reported on Thursday</a>.</p><p>A company pitch deck dated January that was obtained by Insider show how Overtime says its reaches young sports fans and plans to increase annual revenue to more than $200 million by 2024.</p><p>Overtime declined to comment on the deck.</p><p>The sports-media company, which was <a href="https://www.businessinsider.com/overtime-app-raises-25-million-seed-round-2017-2" data-analytics-module="body_link" data-analytics-post-depth="20" data-uri="682cf1c1b25ca64e565e10920925604a">initially built off highlights of high-school sports</a>, distributes sports and esports content on platforms including YouTube and Instagram.</p><p>It has more than 45 million followers across platforms, according to the deck.</p><p>The fundraise, which the Journal reported values Overtime at more than $250 million, comes as more investors are sizing up the sports-media landscape. The category has become a target for SPAC investors, as well as <a href="https://www.businessinsider.com/sports-betting-deal-targets-2021-draftkings-bleacher-report-2021-1">gambling companies</a> looking to cozy up to sports fans. </p><p>These excerpts from Overtime's 33-slide deck lay out the state of its business and its growth plans.</p><h3>Digital-media startup Overtime wants to build the biggest sports network in the world.</h3><img src="https://static3.businessinsider.com/image/6081b41a4becb800190f694d-400-300/digital-media-startup-overtime-wants-to-build-the-biggest-sports-network-in-the-world.jpg" alt="" /><p><p>It's vying to be the next ESPN.</p><p>Only, instead of airing live sports and analysis on cable TV, Overtime distributes content mainly on social platforms like YouTube, Instagram, and TikTok. </p><p>The company <a href="https://www.businessinsider.com/overtime-app-raises-25-million-seed-round-2017-2">was founded in 2016</a> with a focus on high-school sports and athletes, and has expanded into areas <a href="https://www.businessinsider.com/inside-sports-startup-overtimes-expansion-into-esports-gaming-2019-12">including esports</a>. </p><p> </p></p><br/><br/><h3>The startup says has more than 45 million followers on social media.</h3><img src="https://static2.businessinsider.com/image/6081b5814becb800190f695a-400-300/the-startup-says-has-more-than-45-million-followers-on-social-media.jpg" alt="" /><p><p>Overtime said it grew its audience to more than 45 million social-media followers, without relying on paid ad campaigns.</p><p>The deck said Overtime spent zero dollars on marketing in 1,000 days, or roughly three years. </p><p>It also said Overtime's videos clock more than 1.6 billion views per month. </p><p>For comparison, social-video analytics firm Tubular Labs ranked Overtime in March as the 13th most-viewed sports creator across platforms including YouTube and Facebook. </p></p><br/><br/><h3>Overtime relies on its creator network to film game highlights.</h3><img src="https://static1.businessinsider.com/image/6081b65d354dde0018c06af2-400-300/overtime-relies-on-its-creator-network-to-film-game-highlights.jpg" alt="" /><p><p>The rising cost of live events makes sports media a pricey arena for startups to play in.</p><p>Overtime said it isn't pursuing live-sports rights to keep costs down.</p><p>The company touted its network of creators who film game highlights using its camera app, and its mix of global sports including basketball, soccer, football, and esports. </p></p><br/><br/><h3>Overtime says it has a big Millennial and Gen Z following.</h3><img src="https://static1.businessinsider.com/image/6081b6274becb800190f695c-400-300/overtime-says-it-has-a-big-millennial-and-gen-z-following.jpg" alt="" /><p><p>Everyone from sports leagues to advertisers wants to know how to reach young generations, and Overtime says 88% of its audience are between the ages of 13 and 34 and have a median age of 21.</p></p><br/><br/><h3>Overtime said 15 million, or roughly one third of its followers, are international.</h3><img src="https://static3.businessinsider.com/image/6081b6e4354dde0018c06af5-400-300/overtime-said-15-million-or-roughly-one-third-of-its-followers-are-international.jpg" alt="" /><br/><br/><h3>It attributes its growth to its in-house camera tech that turns sports fans into creators.</h3><img src="https://static4.businessinsider.com/image/6081b736354dde0018c06af7-400-300/it-attributes-its-growth-to-its-in-house-camera-tech-that-turns-sports-fans-into-creators.jpg" alt="" /><p><p>Since Overtime doesn't pay for live sports, it relies on its creator network for highlights.</p><p>The company has a camera app that creators use to shoot game highlights, which Overtime then distributes.</p><p>Overtime said it has a network of 7,000 people around the world who it pays to film events.</p></p><br/><br/><h3>Overtime also says it produces original programming that's watched by more than 30 million people per month.</h3><img src="https://static3.businessinsider.com/image/6081b826354dde0018c06aff-400-300/overtime-also-says-it-produces-original-programming-thats-watched-by-more-than-30-million-people-per-month.jpg" alt="" /><br/><br/><h3>The company calls itself the "fastest growing" sports-media property on social media.</h3><img src="https://static1.businessinsider.com/image/6081b84d354dde0018c06b00-400-300/the-company-calls-itself-the-fastest-growing-sports-media-property-on-social-media.jpg" alt="" /><p><p>Overtime backed that claim up later on in the deck with various slides on its engagement rate, followers, and video views across platforms such as YouTube, Instagram, TikTok, and Snapchat. </p><p>It also compared those stats to other digital brands like Barstool Sports and Bleacher Report, legacy-media outlets, and traditional sports properties such as the NFL and NBA.</p></p><br/><br/><h3>Overtime has hosted and filmed its own sporting events, too.</h3><img src="https://static1.businessinsider.com/image/6081b8b8354dde0018c06b02-400-300/overtime-has-hosted-and-filmed-its-own-sporting-events-too.jpg" alt="" /><p><p>The company said its youth-basketball showcase, The Takeover, which it released as a movie, racked up more than 150 million video views. </p></p><br/><br/><h3>The company is creating its own high-school basketball league.</h3><img src="https://static4.businessinsider.com/image/6081b8cf4becb800190f696f-400-300/the-company-is-creating-its-own-high-school-basketball-league.jpg" alt="" /><p><p>Called Overtime Elite, the league will give Overtime its own sports property, which it hopes will generate new revenue streams.</p><p>The Journal reported that Overtime would launch the league in September and pay its high-school athletes a minimum annual salary of $100,000.</p></p><br/><br/><h3>Overtime wants to increase its annual revenue to more than $200 million by 2024.</h3><img src="https://static3.businessinsider.com/image/6081b9304becb800190f6971-400-300/overtime-wants-to-increase-its-annual-revenue-to-more-than-200-million-by-2024.jpg" alt="" /><p><p>The company said it would hit that revenue target three ways: </p><ol><li>Owning an audience no one else does, mainly Gen Z sports fans</li><li>Using its technology, brand, and community to rethink traditional formats for Gen Z, be it sports content or leagues</li><li>Creating basketball and football brands and properties, like Overtime Elite, that can drive sponsorship and media-rights revenue</li></ol></p><br/><br/><h3>Overtime's top execs include former Bleacher Report, Adidas, and MLB leaders.</h3><img src="https://static3.businessinsider.com/image/6081b90a354dde0018c06b04-400-300/overtimes-top-execs-include-former-bleacher-report-adidas-and-mlb-leaders.jpg" alt="" /><p><p>Overtime was founded by Dan Porter, a former exec at talent group Endeavor, and Zack Weiner, who also worked at the agency.</p><p>The company has hired execs with experience at Bleacher Report, Adidas, and MLB for key roles.</p></p><br/><br/><h3>Overtime projects its sports league will become a meaningful revenue stream in a few years.</h3><img src="https://static3.businessinsider.com/image/6081b9cc4becb800190f6974-400-300/overtime-projects-its-sports-league-will-become-a-meaningful-revenue-stream-in-a-few-years.jpg" alt="" /><p><p>Overtime projects that its core business, which makes money from ads, sponsorships, and merchandise, will drive the bulk of its revenue through 2025.</p><p>It also forecasts that Overtime Elite, its forthcoming sports property, will pad its revenues starting in 2022, and give it the revenue lift it needs to get to $200 million in 2024.<br /><br />These targets require big year-over-year growth. The company brought in under $15 million in revenue in 2020, and $7.5 million the year before.</p></p><br/><br/><h3>Overtime says its video views increased during the pandemic.</h3><img src="https://static3.businessinsider.com/image/6081b9b4354dde0018c06b09-400-300/overtime-says-its-video-views-increased-during-the-pandemic.jpg" alt="" /><p><p>Overtime was one of many publishers, including <a href="https://www.businessinsider.com/espn-employees-describe-how-the-2020-layoffs-unfolded-2020-11">sports-media giant ESPN</a>, that cut staff in the pandemic. It laid off 30 employees in 2020, or about 20% of its staff, <a href="https://www.businessinsider.com/overtime-sports-lays-off-at-least-22-workers-without-severance-2020-4">Insider reported</a>.</p><p>The company said video views still showed strong growth and that revenue rose during the pandemic.</p></p><br/><br/><h3>Overtime said its digital-media business makes money outside advertising.</h3><img src="https://static1.businessinsider.com/image/6081ba114becb800190f6975-400-300/overtime-said-its-digital-media-business-makes-money-outside-advertising.jpg" alt="" /><p><p>Like many media companies that have diversified revenue streams, Overtime said it generates revenue by selling sponsorships for its content and events, through direct and programmatic ads, and through apparel.</p></p><br/><br/><h3>Overtime says it works with top brands like McDonalds and Netflix.</h3><img src="https://static3.businessinsider.com/image/6081ba6d4becb800190f6979-400-300/overtime-says-it-works-with-top-brands-like-mcdonalds-and-netflix.jpg" alt="" /><br/><br/><h3>Overtime also sells T-shirts, hoodies, and other apparel, which its talent wears in some of its shows.</h3><img src="https://static1.businessinsider.com/image/6081baa34becb800190f697a-400-300/overtime-also-sells-t-shirts-hoodies-and-other-apparel-which-its-talent-wears-in-some-of-its-shows.jpg" alt="" /><br/><br/><h3>The company said 14 million of its followers are female.</h3><img src="https://static5.businessinsider.com/image/6081bb744becb800190f697f-400-300/the-company-said-14-million-of-its-followers-are-female.jpg" alt="" /><br/><br/><h3>It also said nearly half of its staff don't identify as white, and one quarter are female.</h3><img src="https://static4.businessinsider.com/image/6081bbaa354dde0018c06b10-400-300/it-also-said-nearly-half-of-its-staff-dont-identify-as-white-and-one-quarter-are-female.jpg" alt="" /><br/><br/><h3>Overtime had raised more than $50 million when the deck was published, with investors including VC firms Andreessen Horowitz and Spark Capital, athletes like Kevin Durant, and companies like MSG Networks.</h3><img src="https://static3.businessinsider.com/image/6081bc0d354dde0018c06b13-400-300/overtime-had-raised-more-than-50-million-when-the-deck-was-published-with-investors-including-vc-firms-andreessen-horowitz-and-spark-capital-athletes-like-kevin-durant-and-companies-like-msg-networks.jpg" alt="" /><br/><br/>
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