Andrew Petcash’s Post

Kabaddi, a traditional Indian sport, has seen significant emergence in the sport and entertainment industry in India over the past few years. This rise in popularity can be attributed to several key factors: 1. Pro Kabaddi League (PKL): The introduction of the Pro Kabaddi League in 2014 played a crucial role in popularizing the sport on a larger scale. The league format, with teams representing different cities, brought in a new level of professionalism and competitiveness to Kabaddi, attracting a wider audience. 2. Television Coverage: The broadcast of Kabaddi matches on television channels such as Star Sports and Doordarshan has helped in reaching a wider audience across the country. The increased exposure on TV has aided in building a fan base and generating interest in the sport. 3. International Success: India's success in international Kabaddi tournaments, such as the Asian Games and Kabaddi World Cup, has also contributed to the sport's popularity. The dominance of Indian Kabaddi teams has garnered national pride and further boosted the sport's profile. 4. Corporate Sponsorship: With the growth of the Pro Kabaddi League and increasing viewership, corporate sponsors and advertisers have shown interest in associating with the sport. This has brought in investment and resources, leading to better infrastructure, players' facilities, and overall growth of Kabaddi. 5. Grassroots Development: Initiatives to promote Kabaddi at the grassroots level, such as school competitions, local tournaments, and coaching programs, have helped in nurturing young talent and building a strong foundation for the sport's future. Overall, the emergence of Kabaddi in the sport and entertainment industry in India can be attributed to a combination of professional leagues, television coverage, international success, corporate sponsorship, and grassroots development efforts. With continued support and investment, Kabaddi is likely to further establish itself as a popular sport in India and beyond.

Liquidity has been a big problem this year, and one I've personally encountered when talking to potential investors who are interested but who need an exit to have available cash. These results are awesome to see and a great sign of what is to come for liquidity in our space! Andrew Petcash Profluence #sportstech #foundersjourney #femalefounder

Today's announcement on the merger between Skydance and Paramount Global will likely have a positive impact on the sports industry ecosystem and investors in and around the space. The union brings together several parties with substantial sports-related assets, investments, and operating experience (as well as a more well-capitalized Paramount). --> Paramount boasts an extensive sports IP portfolio, including broadcasting rights to the NFL, UEFA Champions League, Big Ten Conference, PGA TOUR, and Professional Bull Riders, LLC. It will be interesting to see if and how Skydance's production capabilities and creative expertise allow the combined entity to enhance the viewing experience and expand the reach of these sports properties. -> Next, Skydance has already ventured heavily into the sports content space, including through JV with the National Football League (NFL) for Skydance Sports. Also related to Skydance's role are the ties to Larry Ellison, who is the force behind SailGP. which has seen tremendous growth in recent years and increased interest from investors in acquiring franchises globally. These industry connections will likely foster further development of unique sports content and bring new stories to the forefront that ultimately benefit fans and leagues alike. -> Finally, RedBird Capital Partners who is providing financial backing in the deal has a significant long-time presence in sports dating back to founder Gerry Cardinale's time at Goldman Sachs and his involvement in the formation of YES Network and Legends. More recently, Redbird has invested in teams like Fenway Sports Group (owners of the Boston Red Sox and Liverpool FC) and other sports businesses, such as United Football League (UFL), Dream Sports in India, and more recently in EverPass Media and EverWonder Studio. Red Bird's strategic involvement positions RedBird and its portfolio to potentially leverage the new Skydance-Paramount entity to further synergies across its sports-business portfolio. Going forward, 1896 Partners expects the convergence of these entities will likely result in innovative sports programming and significant business synergies. These will benefit the sports media landscape and industry more broadly and have a profound impact on leagues, team owners, and sports investors navigating the ever-changing sector.

Just a week into 2025, the media industry got its first consequential transaction. 📈 Disney and Fubo have announced a groundbreaking merger, combining Hulu + Live Tv with Fubo's sports-centric streaming platform. This deal isn't just business as usual- it's a strategic move that could redefine how we experience live sports and entertainment. The merged company will create the second-biggest online pay-TV provider in North America, behind YouTube TV, with around $6 billion in revenue and 6.2 million subscribers. But the road to this partnership wasn't without bumps. In early 2024, Fubo sued Disney, Fox, and Warner Bros. Discovery, citing anti-competitive practices- from unfair channel bundling to restrictive agreements. It was a bold move by Fubo to level the playing field in the streaming arena. Fast forward to today, and the two sides have turned competition into collaboration. Disney, led by Bob Iger, will hold a 70% stake in the combined entity, which will be led by Fubo CEO and co-founder David Gandler. As part of the deal, Fubo asked the US District Court in Manhattan to drop its lawsuit against the media giants behind Venu Sports, the sports bundle that was supposed to launch last fall. Under the litigation settlement, the companies will pay Fubo $220 million cash settlement, with Disney also committing to a $145 million term loan for Fubo in 2026. Together, they are set to deliver a powerhouse platform that blends Disney's vast content library with Fubo's dedicated sports audience. 🌐 #MediaIndustry #MergersandAcquisitions #Disney #Fubo #CorporateStrategy #Streamingtrends

Today's News: US Republicans have raised concerns that the Disney, Fox, WBD Sports streaming venture will be anticompetitive illustrating a lack of understanding about pressures in the market, which drive consolidation and joint-ventures. Given the vast sums of money required in order to gain access to sports rights, I would suggest that the only way to increase competition in the TV sports market would be to cap the cost of rights for any sport and ban exclusive deals, the focus is on the wrong part of the supply chain. In other news, Lionsgate and Screaming Eagle have gained SEC clearance for a SPAC style merger to form a stand-alone studio, to trade on the NASDAQ. #disney #fox #wbd #sports #tvrights #jointventures #competition #lionsgate #screamingeagle #sec #spac #mergers #nasdaq #productionstudio #filmproduction #entertainmentindustry

Check it out! Playback's Deal of the Year is Lionsgate's acquisition of Entertainment One. While the transaction itself might have closed at the tail end of 2023, Lionsgate’s acquisition of Entertainment One’s assets – including a stake in its Canadian business, rebranded to Lionsgate Canada – showed its value in 2024 as the studio says it will lean on its supersized library to boost its revenue. The deal has paid off through key assets like ABC’s The Rookie and new synergies between the U.S. and Canadian teams for distribution and production.

Check out this article in The Drum that quoted me re: the proposed merger of Skydance with Paramount. While I'm very happy to see long time M&E giant Paramount finding a way to address their cash shortfall, it's hard to think that more media consolidation is the long term solution. While the industry is grappling with the emergence of Generative AI and the potential threat it is being perceived to create for human content producers and creatives, the consolidating industry is failing to deliver what the next generation audience wants. At the same time, Social Media continues to make a major push into the video delivery space. And I think the lift is easier for Social Media to get in to video than for content owners and distributors to provide interactive social experiences. It's just a matter of time before one side get's it right. Hopefully the long term result will be more media choices, which to me is the main thing currently lacking in the existing traditional Media & Entertainment landscape. I mean this both in terms of differentiated content, as we see with auteurs in the film industry deriding the push to ever more Marvel sequels, and the more interactive eSports like type of delivery experiences the younger audience is seeking on platforms like Twitch and TikTok. https://lnkd.in/gbnBpc3P

It was announced last week Fubo/Hulu+Live TV will merge creating the second largest virtual multichannel video programming distributor (vMVPD) behind market leader YouTubeTV. This new joint venture boasts a subscription base of 6.1 million according to Omdia’s TV and Online Video Intelligence Service and will create much needed scale. As a result of this new JV Fubo will drop its yearlong litigation against Venu Sports which in a stunning turn of events announced that it has decided to end its joint venture and not launch as planned. While we can only speculate as to the exact reason for this, continued scrutiny and legal action on behalf of other pay-TV providers and the Department of Justice might have made this proposition not worth pursuing in the long term. https://lnkd.in/eg9BXV27 #omdia #SportsConveniencePackage #sportsbiz #Fubohulumerger #Venusports #LinkedInSports

INDIA RELIANCE INDUSTRIES AND WALT DISNEY SEEKING COMPETITION COMMISSION OF INDIA APPROVAL FOR $ 8.5 BILLION MERGER TO CREATE GIANT IN ENTERTAINMENT SECTOR WITH 120 TV CHANNELS Reliance Industries and Walt Disney have sought antitrust clearance for their $8.5 billion India merger, arguing that their combined entity, particularly in cricket broadcasting, will not negatively impact advertisers, sources familiar with the matter informed Reuters. As per experts, the deal is expected to undergo rigorous scrutiny, as it will establish a big entertainment entity, constituting 120 TV channels and two streaming services. Additionally, the merged company will hold lucrative rights to cricket, the country's most popular sport. https://lnkd.in/gjbyn6fJ