Overtime, the sports media and entertainment company targeting Gen Z and Gen Alpha audiences, announced a new strategic investment led by Eldridge Capital Management, the asset management arm of holding company Eldridge. The size of the round was not disclosed.
Eldridge holds stakes across sports and media, including the Los Angeles Lakers, the Los Angeles Sparks, the Los Angeles Dodgers, the Trent Rockets, A24 Films, Fulwell Entertainment and Religion of Sports.
The investment follows what Overtime describes as a period of sustained growth across its brand partnerships, content distribution and audience metrics. The company counts adidas, State Farm, T-Mobile, Target, Hershey and Gemini among its brand partners, and has worked with the NFL, NBA, WNBA and NWSL. It has also partnered with NBC on coverage including the Milan-Cortina Winter Olympics and an exclusive broadcast of the OT7 football finals, and with FOX One on a creator competition series tied to the World Cup that the release says has generated more than 142 million views.
“This investment is a strong validation of the business we’ve built and, more importantly, where we’re headed,” said Zack Weiner, Overtime co-founder. “The momentum we’re seeing across our business, not just from an audience and a content growth perspective, but also revenue generation with premier partners, gives us tremendous confidence in what’s next.”
“We believe Overtime has built a dynamic and culturally influential company across media and global sports,” said Jeff Wilbur, partner and Head of Sports and Entertainment at Eldridge Capital Management. “We feel the company has anticipated where fans are going, built authentic relationships with young audiences, and developed premium intellectual property that has attracted global partners.”
Michael Spirito, Managing Partner of 359 Capital and an Overtime board member, also weighed in on the deal, calling Overtime’s growth over the past five years “remarkable” in both audience size and the diversity of its business lines.
Overtime has built out a portfolio of owned sports properties beyond its media operation, including Overtime Elite and Overtime Select in basketball and OT7 and Overtime Nationals in football. Its existing investor base includes Liberty Media, Amazon, Andreessen Horowitz, Blackstone Strategic Partners, Bezos Expeditions, and more than 40 NBA and NFL players, among others. The company says five NBA team owners and more than 6% of active NBA players have invested in Overtime.
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Overtime, the sports media and entertainment company targeting Gen Z and Gen Alpha audiences, announced a new strategic investment led by Eldridge Capital Management, the asset management arm of holding company Eldridge. The size of the round was not disclosed.
Eldridge holds stakes across sports and media, including the Los Angeles Lakers, the Los Angeles Sparks, the Los Angeles Dodgers, the Trent Rockets, A24 Films, Fulwell Entertainment and Religion of Sports.
The investment follows what Overtime describes as a period of sustained growth across its brand partnerships, content distribution and audience metrics. The company counts adidas, State Farm, T-Mobile, Target, Hershey and Gemini among its brand partners, and has worked with the NFL, NBA, WNBA and NWSL. It has also partnered with NBC on coverage including the Milan-Cortina Winter Olympics and an exclusive broadcast of the OT7 football finals, and with FOX One on a creator competition series tied to the World Cup that the release says has generated more than 142 million views.
“This investment is a strong validation of the business we’ve built and, more importantly, where we’re headed,” said Zack Weiner, Overtime co-founder. “The momentum we’re seeing across our business, not just from an audience and a content growth perspective, but also revenue generation with premier partners, gives us tremendous confidence in what’s next.”
“We believe Overtime has built a dynamic and culturally influential company across media and global sports,” said Jeff Wilbur, partner and Head of Sports and Entertainment at Eldridge Capital Management. “We feel the company has anticipated where fans are going, built authentic relationships with young audiences, and developed premium intellectual property that has attracted global partners.”
Michael Spirito, Managing Partner of 359 Capital and an Overtime board member, also weighed in on the deal, calling Overtime’s growth over the past five years “remarkable” in both audience size and the diversity of its business lines.
Overtime has built out a portfolio of owned sports properties beyond its media operation, including Overtime Elite and Overtime Select in basketball and OT7 and Overtime Nationals in football. Its existing investor base includes Liberty Media, Amazon, Andreessen Horowitz, Blackstone Strategic Partners, Bezos Expeditions, and more than 40 NBA and NFL players, among others. The company says five NBA team owners and more than 6% of active NBA players have invested in Overtime.
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