Sticking around in sports media for 20 years is no small feat for a livestreaming service, especially one that isn’t attached to a legacy media company. But that’s where FloSports is, after two decades of ups and downs that has the company profitable and providing streaming for diehard fans across a number of sports.
FloSports turns 20 this month, and its staff of 400 now covers the gamut of high school, professional and college sports, including auto racing, hockey, wrestling, grappling, cycling, track and field, cheerleading, baseball, basketball, football, gymnastics, lacrosse, rugby, soccer, softball and volleyball.
“You have to have crazy beliefs to kind of stick to it, because in the early days, it was, ‘You have a 99.9999% chance of it failing,’ especially when you’re starting in track and field and wrestling,” said Mark Floreani, the company’s co-founder and CEO. “I mean, who does that with no background? No money? So you have to be a little crazy.”
Early FloSports moments that stand out to Floreani include the first live stream in 2007 at a Stanford track meet and the first time it showed the Penn Relays. “We filmed every single race, and every single race was uploaded … which blew away the running community,” he said. “It’s been 20 years trying to solve the problem of [growing] the long tail of a sport.”
Another watershed moment came in 2012 with its first subscription offering — a college wrestling match. “We saw people actually paying to watch — and a good amount of them,” Floreani noted. “We said, ‘Hey, we got something here.’”
Smaller moments also resonated for Floreani. “The first time an employee bought a car, and I was like, ‘Whoa, you did that off of our backs? That’s great,’” he recalled.
FloSports had public learning moments as well, such as when it went into business around local MLS games in 2019 with D.C. United and FC Cincinnati before having to end those deals.
“What we learned is what we all know now — that the local RSN model was inflated and a little broken,” Floreani said. “What we’re seeing today from a cable and even a direct-to-consumer perspective is that it becomes hard to make that work. What we’re good at is taking local and national events and creating a bigger worldwide audience. Our infrastructure and operating system work to expand the reach to make it worldwide — not to keep it local.”
What’s next for the company?
“I’m really excited about the next four to five years, because we have invested heavily in our infrastructure and operating system,” Floreani said. “We are in, let’s say, 20 sports, but really, we’re honing in on 10 today. And the next stage of growth, we think, there are 100 sports that our model works for and 100 million subscribers. So, we just believe we are just scratching the surface.”