EXCLUSIVE: ALLCITY Network Raises $12 Million Series B, Launching Its 5th Market In Dallas Later This Month
Aug 20, 2024
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In this engaging conversation, Brandon Spano, co-founder and CEO of ALLCITY Network, shares insights on their recent $12 million Series B funding and the strategic launch in Dallas. He highlights the importance of diversifying revenue and the evolving landscape of talent acquisition in sports media. Brandon discusses the challenges of maintaining business stability during adversity, the impact of local sports teams on revenue, and innovative strategies for growth. Plus, he emphasizes the power of understanding local dynamics to engage communities effectively.
ALLCITY Network's strategic market selection focuses on local sports interest and media landscapes, ensuring sustainable growth and community engagement.
The recent $12 million Series B funding round will enhance ALLCITY's digital footprint and local content strategies, increasing visibility and partnerships.
Deep dives
All City Network's Unique Model
All City Network serves as a central hub for sports fans, providing an interactive and localized experience across various media formats. With content available in audio, video, and written forms, fans can engage with their favorite local teams throughout the day—from reading articles and listening to podcasts to watching live shows. This comprehensive approach allows All City to establish strong connections with fans, offering experiences that include live discussions during games and events like watch parties in local bars. By focusing on local coverage, the company ensures that fans can access relevant and immediate content that resonates with their passion for sports.
Strategic Expansion into New Markets
The selection of cities for All City Network's expansion is based on strategic opportunities and the potential for building a solid local presence. The company started in Denver and has successfully launched in additional markets including Phoenix, Chicago, and Philadelphia, with Dallas being the latest addition. Each market's selection is informed by factors such as existing sports interest, media landscape, and potential partnerships, especially in markets where sports betting is becoming legal. This thoughtful approach enables All City to create a solid foundation while positioning itself for sustainable growth in each locale.
Differentiating from Competitors
All City Network carves out its niche by prioritizing real-time audio and video content, distinguishing itself from traditional sports media outlets like The Athletic. While The Athletic focuses heavily on written journalism, All City aims to deliver live updates and instant analysis as events unfold, appealing to a more engaged audience. This immediacy allows the company to be agile, providing emergency podcasts or content shortly after significant events, which enhances the overall fan experience. The network's interactive features, such as live chat and social media engagement, further enrich the connection with audiences, setting it apart in the sports media landscape.
Funding and Growth Strategy
The recent $12 million Series B funding round led by Tegna reflects All City Network's increasing valuation and growth trajectory. This investment not only provides crucial capital but also helps to expand their digital footprint and further develop local content strategies. Tegna's involvement enables All City to access broader media resources, including cross-promotion on television, which enhances its visibility in local markets. By building strong partnerships and leveraging funding effectively, All City aims to solidify its presence across various regions and foster long-term sustainability in an evolving media environment.
Today’s guest is Brandon Spano, the co-founder and CEO of ALLCITY Network. Brandon and I discuss the company’s $12 million series B fundraising round, the formula for picking new markets, the importance of talent, the power of diversifying revenue, and some general commentary of the challenges across sports media. Enjoy!
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