Exclusive: Simone Biles joins Religion of Sports

• "If you asked me what I wanted to do when I was younger, I always wanted to be a nurse to help people," Biles said. "And obviously, that's off of the table now, but I still feel like we can help people in our communities through storytelling."

Zoom in: While Biles has experimented with a few media projects, including her Netflix series "Simone Biles Rising" and her best-selling autobiography and its TV adaptation "Courage to Soar," her new role with ROS will allow her to help produce and direct projects for other athletes.

• She hopes to give other women athletes the same storytelling platform that ROS helped her build.
• "I think there are really critical conversations that need to be heard around sports, through mental health and athletes — just even in the Black and brown community," she said.
• While much of her own media experience has been documentary-style programming around her own life, her new role will allow Biles to expand to new formats, such as scripted programming and live events, said ROS CEO Ameeth Sankaran.

Between the lines: One area where Biles will bring strong expertise is storytelling around athletes who compete as individuals.

• "Coming from an individual sport, it is a little bit different than Michael and Tom's approach," she said, referring to ROS co-founders Strahan and Brady. "So I think I can give a little bit of insight of my career, my journey, and how that works. And again, me being female as well, I think that brings something new to the table."

Catch up quick: Biles has worked with ROS over the past five years on projects such as her Netflix show and "Simone vs Herself," a Facebook Watch series.

• "They've embraced me as their own," she said. "There's no better company that I believe in."
• She believes long-form storytelling is a differentiator for ROS because it allows people to understand who athletes are. "People want to be invested. They want to feel like they're there with you and they're supporting you," she said.
• Some of ROS' notable works include "Aaron Rodgers: Enigma" which aired on Netflix, "In the Arena: Serena Williams" which aired on ESPN+, and "Kobe Bryant's Muse" which aired on Showtime.

The big picture: Biles joins ROS during a period of major disruption for the sports entertainment industry.

• The streaming era ushered in a slew of new athlete-led production startups, such as Steph Curry's "Unanimous Media," Kevin Durant's Boardroom, David Beckham's Studio 99, LeBron James' SpringHill Company, Peyton Manning's Omaha Productions, Carmelo Anthony's Creative 7, and Sue Bird and Megan Rapinoe's A Touch More.

Yes, but: Turbulence in Hollywood and changes to the media landscape have forced some companies to consolidate, cut costs or raise more cash.

• ROS shuttered its audio unit and laid off staff from that team in 2023.
• While some of those podcasts were later turned into scripted TV series, the shows themselves were harder for ROS to monetize given its focus on premium, narrative storytelling, Sankaran said.

Zoom out: Today, ROS is in a "very stable place" because it's doubled down on what works, Chopra said.

• With around 40 full-time employees, it's pacing to produce more than a dozen major projects this year.
• The company, which raised $50 million in 2022, has focused over the past year on expanding its streaming partnerships and creating intimate, character-driven stories.

What to watch: Although Sankaran and Chopra declined to discuss any financial figures, Sankaran said the company expects to turn a profit in 2025.

• The firm, which has raised $66 million to date, has a 'sufficient cash balance,'" he added.
• In the future, ROS may raise capital to pursue an acquisition. The company is eyeing more scripted entertainment, content production for brands and international expansion as key areas of opportunity.