Front Office Sports, the fastest-growing media brand covering the business of sports, announced today a strategic growth investment from Crain Communications, the parent of Plastics News
Founded by Adam White and Russ Wilde, New York-based Front Office Sports has differentiated itself in sports media with a "unique editorial voice" and a team deeply connected to "the business of sports." In just the last year, Front Office Sports' newsletter subscriber base grew 288 percent, sponsor and advertising revenue grew 269 percent, and its social channels had more than half a billion impressions.
"The business of sports is not a trade," said Adam White, CEO and founder of Front Office Sports. "The business of sports is culture, finance, consumer marketing, entertainment and now Web3. Our company was founded out of deep conviction that this industry had to be covered differently.
"From the editorial, to the product, to the voice, we knew the business of sports was ready for something totally different," he said.
"We couldn't be more excited about our investment in Front Office Sports," said KC Crain, president and CEO of Crain Communications. "We love the space they expertly cover, and their team is great to work with — we know there's a lot we can learn from each other. As Crain continues to build new businesses around data and digital audiences, FOS is a perfect fit."
The investment is a minority stake, which values the startup at $25 million. As part of the agreement, KC Crain will join the Front Office Sports board of directors.
Front Office Sports is helping redefine direct-to-consumer business media with diverse revenue streams, deep engagement on social media, and a loyal and influential reader base. In addition to its newsletter, FOS has leveraged its audience into a robust digital community including complimentary, interactive courses and a paid subscription product to help professionals stay on top of the ever-changing business of sports.
In 2021, Front Office Sports was named one of Fast Company's Most Innovative Companies and have had their partner campaigns recognized as finalists for various industry awards.
Crain Communications is a privately held media company that produces trusted and relevant news publications, lead generation, research and data products, digital platforms, custom publishing, and events with uncompromising integrity. Reaching 78 million readers globally, the company's portfolio consists of 21 brands.
Many of Crain's brands are the most influential media properties in the verticals they serve including Automotive News, Ad Age, Modern Healthcare, Plastics News, and Pensions & Investments. Headquartered in Detroit, the company has 650+ employees in nine locations delivering exceptional news content over a variety of platforms to empower the success of its readers and clients. To learn more about Crain Communications, visit crain.com.