While the coronavirus pandemic forced many media companies to slow down production and forced athletics to grind to a halt, Barstool Sports adapted and CEO Erika Nardini says the company was able to capitalize on a slew of non-sports-related content.
Now Barstool Sports' priority is to show buyers at the company's first appearance at the NewFronts marketing conference that it can still be profitable even without the return of North American pro leagues.
"We wanted to show, not only the showcasing of what we're creating -- so, all of the brands we're developing and running -- but also how we're performing for advertisers," she said.
Barstool's success during the shutdowns, Nardini explained, is not only attributable to the team's ability to "create content that's authentic" but also its commitment to creating content that fans want to engage with.
"We're building some of, if not, the very biggest brands on the internet," she said. "I think that during quarantine, most media companies stopped making content. They either had production challenges, they weren't able to gather in studios. We took the opposite approach."
Barstool's growth on social media platforms like TikTok and Instagram has also allowed the company's "brands the ability to play ball with those audiences" where they otherwise might not have had access, according to the CEO.
"Every single brand that's created at Barstool is programmed and produced for the internet, which means that we naturally attract what you would call 'young viewers,'" she said.
Even with the success of the non-sports content, Nardini said the company will not abandon its newfound format despite the imminent return of the pros, but will instead marry the new content with Barstool's core programs.
"What we've found is when you have eyes for the internet, and you're making content for the internet, that stuff can last," she noted.
The UK has launched the largest pilot program of a four-day workweek to research measures of productivity. The trial includes more than 3,000 workers and spans more than 70 companies. The entire project runs for six months. Odessa Jenkins, the president of the e-learning and analytics company Emtrain, joined Cheddar News to break down the logistics of the test. “We are in a time of a wellness revolution, and I think we're all looking for how to make our employees more well and more balanced," she said. "And that's really, I think, the point of this study."
The SEC is taking aim at retail investors. The financial watchdog has released a new game show-themed public service campaign to help investors make informed decisions and do their due diligence before investing, but retail traders say they feel attacked. Tyrone Ross, Founder of 401, breaks down the battle between the two groups, and what can be done to mend their relationship.
New York State passes the country's first 'right to repair' bill covering electronics. The Fair Repair Act would require all manufacturers who sell digital electronic products within state borders to make tools, parts, and instructions for repair available to both consumers and independent shops. Experts believe the new measure could have a drastic impact on the overall cost of repairing devices and products. Gay Gordon-Byrne, Executive Director of The Repair Association joins Cheddar to discuss.
Here are your Need2Know stories for Tuesday June 7, 2022:
Today, voters head to the polls for primary elections in California, Iowa, Mississippi, Montana, New Jersey, New Mexico, and South Dakota.
Senator Joe Manchin said he would support raising age requirements for gun purchases to 21. Manchin told CNN he also "wouldn't have a problem looking at" a ban on AR-15 assault rifles.
Meanwhile, five players on the Tampa Bay Rays roster opted not to wear a patch added to its uniforms intended to celebrate pride month.
Saving for retirement is more important than ever as inflation lingers, but more Americans are anxious about their ability to do so. A new survey by Schroders shows that many people say they need just over a million dollars to retire comfortably — but only about one-quarter of respondents said they were likely to meet that goal. So, what should people do to retire safely? Joel Schiffman, head of intermediary distribution for North America at Schroders, joins Closing Bell to discuss the survey results, best practices for retirement planning, why a certain percentage of Americans actually plan to work while retired, and more.
