The Sporting News (TSN), a digital sports news site, has secured $15 million in a growth round led by Playtech, a London-based gambling software development company. This funding represents a significant step for TSN, a brand that originated in the 1800s, as it seeks to bolster its new strategy.
TSN’s CEO, Rich Routman, considers this round as akin to a “series A” investment aimed at advancing the firm’s updated approach. The company, which transitioned to a digital-only outlet in 2012, is profitable and has reported that 40% of its revenue comes from its affiliate business, with the remaining 60% coming from advertising.
This funding will support TSN’s global expansion efforts and further development of its affiliate business, which focuses on driving sales and subscriptions to third-party websites. Additionally, TSN has made a strategic investment in SuperDraft, an online fantasy sports platform, which it will manage.
TSN’s evolution highlights the changing landscape of media companies, adapting to new revenue models and industry trends. The sports betting boom worldwide presents opportunities for TSN to expand its affiliate relationships, both in the U.S. and abroad, capitalizing on the growing interest in sports gambling.
Since 2021, TSN has expanded into ten new markets across Latin America, Europe, and Asia while also diversifying its content to include coverage of local sports in these regions.
