Dow Jones and WSJ launch new sports vertical with live event
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Aïda Amer/Axios
The Wall Street Journal and its parent Dow Jones are launching a new sports vertical that will debut alongside an exclusive, invitation-only sports economy event in New York City this summer.
Why it matters: "Having spent the last couple of years in sports, and seeing how big the opportunities are becoming for investors and owners — It's clear that sports has turned into this incredible asset class," said Dow Jones chief growth officer M. Scott Havens.
- Havens joined Dow Jones last year after having served for two years as the president of business operations at the New York Mets. Before that, he was CEO of Bloomberg Media.
Zoom in: The inaugural "WSJ Sports: The Next Sports Economy" event will take place this July during the World Cup final, and will focus on sports as a rising global asset class.
- The programming will highlight timely topics across the business of sports, including the evolution of media rights in the streaming era, the rise of betting and prediction markets, and groundbreaking sports and heath technology.
- The event is designed to be a platform where investors, owners, athletes and other sports executives can come together and network while discussing emerging investment opportunities, such as college and women's sports.
Zoom out: Dow Jones hired Havens to expand its consumer subscription business that currently spans four outlets, the Journal, Barron's, MarketWatch and Investor's Business Daily.
- The business of sports is a topic all four brands already cover to varying degrees, which is in part why Havens wants to craft a broader consumer vertical around it.
The big picture: More media companies are leaning into coverage of the business of sports as a way to capitalize on the growing appetite for insights on the topic from business decision-makers.
- CNBC launched a sports vertical in 2024, which includes dedicated digital, television and events programming.
- Puck, which reaches opinion leaders across media, politics and business, launched a dedicated sports business vertical called "The Varsity" last year.
- Front Office Sports has expanded more into multi-platform partnerships following an investment in the publication by RedBird IMI, a joint venture between private equity giant RedBird Capital Partners and Abu Dhabi-based International Media Investments.
What to watch: The new sports event is one of first new initiatives to debut following the announcement of the company's new structure and strategy at Dow Jones' investor briefing last month.
- The company said it expects to earn $1 billion in annual profit within five years.
