Why Alexis Ohanian Sees Massive Potential In Women's Sports

TL;DR

Alexis Ohanian sees massive business potential in women's sports.

Transcript

in 2019 Alexis Ohanian the co-founder and former executive chairman of Reddit was watching the Women's World Cup with his wife Serena Williams when he made a comment about their daughter playing for the team Serena said Not until they pay her what she's worth from that moment Alexis made it his mission to close the pay Gap in women's sports he star... Read More

Key Insights

• Alexis Ohanian was inspired to invest in women's sports after realizing the pay gap during the 2019 Women's World Cup.
• Women's sports receive only 1% of sponsorship dollars and less than 5% of media coverage, highlighting a significant investment gap.
• Ohanian emphasizes the 'curse of low expectations' as a major issue in women's sports, despite high fan engagement.
• The U.S. Open and NCAA women's sports demonstrate high viewer engagement, proving women's sports' potential for growth.
• Ohanian believes that women's sports can achieve parity with men's sports through increased visibility and investment.
• Angel City FC's valuation has increased significantly, demonstrating the growing financial potential of women's sports teams.
• The future of women's sports lies in becoming a sports and entertainment brand, expanding beyond just the on-field product.
• Ohanian sees a seismic shift in support for women's sports, with Angel City FC aiming to be the first billion-dollar women's franchise.

Questions & Answers

Q: What inspired Alexis Ohanian to invest in women's sports?

Alexis Ohanian was inspired to invest in women's sports after a conversation with his wife, Serena Williams, during the 2019 Women's World Cup. They discussed the pay gap in women's sports, and Serena emphasized that their daughter should only play if she is paid what she's worth. This conversation motivated Ohanian to focus on closing the pay gap and investing in women's sports.

Q: What are the current investment and media coverage statistics for women's sports?

Currently, women's sports receive only 1% of total sponsorship dollars and less than 5% of media coverage. Despite these low investment and coverage levels, there is significant fan engagement and potential for growth. Alexis Ohanian highlights these disparities as evidence of the need for increased investment and visibility in women's sports.

Q: How does Alexis Ohanian view the potential of women's sports?

Alexis Ohanian sees massive potential in women's sports, believing they can achieve parity with men's sports through increased visibility and investment. He emphasizes the need to overcome the 'curse of low expectations' and highlights the growing financial potential of women's sports teams, as demonstrated by Angel City FC's increased valuation and the high engagement in events like the NCAA and U.S. Open.

Q: What is the significance of Angel City FC's valuation increase?

Angel City FC's valuation increase signifies the growing financial potential of women's sports. The team was initially bought for a low expansion fee, but recent valuations have soared, with new teams joining the league at record franchise fees. This demonstrates a shift in the perception and financial viability of women's sports teams, aligning with Ohanian's vision of their potential.

Q: What role does fan engagement play in the growth of women's sports?

Fan engagement plays a crucial role in the growth of women's sports. High viewer numbers for events like the NCAA women's basketball championship and the U.S. Open demonstrate significant interest in women's sports. Ohanian highlights that women's sports fans are passionate and supportive, often buying into brands partnered with their favorite teams, which adds value to the sports and encourages investment.

Q: How does Ohanian envision the future of women's sports?

Ohanian envisions the future of women's sports as becoming major sports and entertainment brands. This involves expanding beyond the on-field product to include storytelling, game day experiences, community involvement, and brand partnerships. By building a comprehensive ecosystem around women's sports, Ohanian believes they can achieve significant financial growth and cultural impact.

Q: What challenges do women's sports face in achieving parity with men's sports?

Women's sports face challenges such as low investment, limited media coverage, and the 'curse of low expectations.' Despite high fan engagement, these factors contribute to the perception that women's sports are undervalued. Ohanian argues that increased visibility, investment, and a reevaluation of success metrics are essential for women's sports to achieve parity with men's sports.

Q: What is Alexis Ohanian's long-term goal for Angel City FC?

Alexis Ohanian's long-term goal for Angel City FC is to become the first billion-dollar women's franchise. He aims to achieve this by building a passionate global fan base, raising the bar on brand partnerships, and demonstrating the financial and cultural value of women's sports. Ohanian believes that Angel City FC can lead the way in transforming women's sports into major sports and entertainment brands.

Summary & Key Takeaways

• Alexis Ohanian, inspired by the 2019 Women's World Cup, is committed to closing the pay gap in women's sports. He highlights the low investment and media coverage as key issues, despite significant fan engagement. Ohanian believes in the potential for women's sports to achieve parity with men's sports through increased visibility and investment.

• Ohanian's investment in Angel City FC reflects his belief in the growing financial potential of women's sports. He argues that women's sports can become major sports and entertainment brands, expanding beyond the on-field product. Angel City FC's increased valuation showcases the potential for financial growth in women's sports.

• The narrative of underinvestment in women's sports is shifting, with new teams joining the National Women's Soccer League at record franchise fees. Ohanian sees a seismic shift in support for women's sports, driven by increased visibility, brand partnerships, and a passionate fan base. He aims for Angel City FC to be the first billion-dollar women's franchise.