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FOS

Front Office Sports, the sports media company centered around newsletters, expects to be profitable this year on high 7-figures in revenue, its CEO Adam White tells Axios.

Driving the news: The company moving forward lean into the branding "FOS" as it starts to build more newsletter products for general sports consumers, in addition to its core products catered to professional business audiences.

Details: Front Office Sports was launched by White while he was in college in 2014. It aimed to create a newsletter network for the business of sports and now has roughly 30 full-time employees, up from around 10 this time last year.

  • Its twice-daily business of sports newsletter "Front Office Sports" is its most popular newsletter with close to 300,000 subscribers.
  • The company also publishers "Front Office Sports College," a weekly business of college sports newsletter, "The Association," a daily NBA newsletter, and "Sports Section," a daily general sports newsletter.

What's next: In the next month, the company plans to launch "The Rundown," a daily sports betting and fantasy newsletter.

  • The company has also signed sports betting company DraftKings to an exclusive deal as the official sports betting and daily fantasy partner of FOS. DraftKings will appear via advertising and sponsorships across all FOS products.

Between the lines: While the company's main focus is selling native ads within its newsletters, it also expanded its revenue streams to include advertiser-supported short courses, awards, and social media franchises, like custom player cards.

  • White says that FOS' short-course product called "FOS Essentials", which launched in February, will be "a seven-figure business" by Q3. The company's first course had over 6,000 people register.
  • Most of the FOS' advertising partners are Fortune 500 consumer brands, like Pepsi, AB InBev, Hyperice, Bose, DraftKings and Samsung.

The big picture: The pandemic has wreaked havoc on the sports media industry. But for upstarts like Front Office Sports, the crisis has served as an opportunity to leapfrog legacy competitors in digital.

  • "We are focused on a different sports fan than most. Our audience of 25-to-65-year-old working professionals spend 5+ hours per day in their inbox. Why not meet them where they are?'" says White.
  • "FOS has been consistently committed to serving its community from day one, it’s what attracted us to the business and has resulted in incredible growth at every level,” says Jason Stein, founder and general partner at SC Holdings, FOS' sole investor.

Go deeper

Ina Fried, author of Login
33 mins ago - Technology
Column / Signal Boost

Exclusive: Meta's civil rights chief aims to "turn the knob" for good

Photo Illustration: Shoshana Gordon/Axios. Photo: Meta

A year ago, Facebook brought in Roy Austin, Jr. to lead a new team focused on civil rights. Since then, he has assembled a squad of experts advising parent company Meta on everything from voting rights to hate speech to ensuring new products don't have discriminatory impact.

The big picture: Austin's team of nine must tackle those tough issues inside a company of nearly 70,000 employees serving more than 3 billion users around the world.

Momentum builds for salary transparency

Illustration: Sarah Grillo/Axios

New York City will soon require employers to supply a salary range when they're advertising a position — the biggest step yet in the growing but controversial movement for pay transparency.

Why it matters: Laws like New York's aim to give workers, particularly women and people of color, more power in job negotiations. But the rise in remote work is throwing a wrench into the effort.

1 hour ago - Health

Contact tracing fizzles across America

Illustration: Sarah Grillo/Axios

States across the country are scaling back their contact tracing efforts, often focusing on vulnerable communities and relying more on Americans to alert close contacts themselves after testing positive for COVID.

Why it matters: As vaccines have become available, the virus has become more infectious and life has slowly headed more toward normal, health officials have come to view contact tracing as a relatively inefficient use of resources.