Overtime is a leading creator of disruptive sports IP, powered by digital first thinking, community and new models of fan engagement.

Overtime is a distributed sports network that offers video content through a variety of platforms including social media, YouTube, TV (through a partnership with regional sports network SportsNet New York) and through Overtime’s website itself. 

By focusing their attention on these platforms instead of a single-channel TV station, Overtime is hoping to capture a younger market that they say has previously been difficult for others in the space to connect with.

Overtime's lineup of products is constantly evolving. Starting out first as a sports network focused on young, digital-native sports fans, with its programming highlighting talented young athletes, in particular high school athletes who play basketball and football. 

Other sports networks, websites, blogs and fans frequently re-share Overtime videos, helping Overtime reach an even larger audience on social, the web, on mobile and on TV.

Getting views and "purchasing" engagements is one thing, but building community and 100% authentic engagement is the fountain of youth for businesses. Accordingly, Overtime has created an ecosystem that has organically captured the attention of Gen-Z and younger Millennial sports fans by providing wildly entertaining content across all of the most prominent social media channels. 

Overtime has achieved the status of the largest sports media account on the fastest growing social media app TikTok (19.3M+ followers as of June 2021). Not only does the Company have a massive following across their social media channels, they also have one of the highest engagement rates in the industry. Strong engagement also means strong partnerships and sponsorships, with the Company's revenue increasing from $13M in 2020 to $30M+ in 2021.

In November 2021, Overtime launched Overtime Elite, a transformative new sports league that offers the world’s most talented young basketball players a better pathway to becoming professional athletes. The league opened to great press and major partnerships, also cementing the Company's commitment to ensure access and inclusivity in sports.

Overtime describes three major revenue streams as it scales:

• Direct Advertising Revenue
• E-Commerce Revenue
• Program Partnerships 

The Company turned on eCommerce and apparel revenue for the first time in Q1 2020 and has seen tremendous interest. Accordingly, it keeps rolling out new verticals, introducing Overtime NFTs to its fans and followers.

Overtime’s demographic is 2/3 males, 1/3 females, and 88% of their viewers are ages 13 to 34. The median age is 21. Overtime is specifically going after a demographic that's turned off by ESPN, which targets viewers mostly in their late 30s through 60s and is reported to have had declining viewership for a decade. This is a $10B+ total addressable market. They also report by adding brand sales, they can break into an additional $48B market.

Overtime has a variety of competitors including huge networks like Fox, ESPN, and others. Overtime touts their appeal to the younger population on social media platforms that these more senior networks do not. They have more TikTok followers than the NBA, ESPN, and almost 20x more than Fox.

Overtime reports these social media platforms have enabled them to drive engagement – especially in the younger populations. Their monthly engagement rate is 5%, compared to Barstool’s 2.6%, ESPN’s 1.1%, and the NFL’s 1.0%. They report that each month 1 in every 4 Americans aged 18 to 24 watches some form of Overtime content.

Growth

Exit

With Overtime’s engagement traction, it’s possible that someone like Disney (which owns ESPN and Sports Illustrated), Turner (which owns Bleacher Report and CNN) or their strategic investor, Madison Square Garden Networks could look to acquire them. They could also appeal to streaming content players such as Netflix (if it’s looking to get into sports content and add younger users) or Disney for its Disney+ bundled offering.

Overtime could alternatively go for the IPO option, which has historically been company’s stated plan. In prior conversations with leadership, they’ve expressed that with ESPN skewing older and viewership declining, there is no major player dominating with younger audience and there’s a huge unaddressed market opportunity.

Founder Dan Porter previously founded OMGPOP and sold it to Zynga in 2012 for $180,000,000. He then went to WME to be their Head of Digital. 

Co-founder Zack Weiner is a former chess champion and serial entrepreneur. COO Ali Nicolas followed Dan from OMGPOP and WME. CFO Farzeen Ghorashy comes from Goldman Sachs.

Beyond its co-founder, Overtime is built by a large team of 250+ employees from diverse backgrounds, all passionate about shaping the future of sports.

In addition to the carried interest Republic Deal Room Advisor LLC is entitled to for the syndicated investments it organizes, certain principals of Republic Deal Room Advisor LLC may have a personal interests in these investments, as disclosed below. When making an investment decision please review any applicable disclosures as they represent pre-existing financial interests held by those principals of Republic Deal Room Advisor LLC.

We do not represent that the information contained herein is accurate or complete, and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. Certain information contained herein (including any forward-looking statements and economic and market information) has been obtained from and/or prepared by the Company or other third-party sources and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, Republic Deal Room Advisor LLC does not assume any responsibility for the accuracy or completeness of such information. Republic Deal Room Advisor LLC does not undertake any obligation to update the information contained herein as of any future date.