Barstool Sports Emergence
By now, whether it is through our previous blogs or your knowledge, you are probably aware of Barstool Sports. Barstool was not always the powerhouse they are today. The point of this blog is to teach you about Barstool’s history and show you how they became a cult favorite over the last few years.
Barstool’s History
Barstool started in the basement of Dave Portnoy’s parents’ house in Milton, Massachusetts. Barstool originally was a hardcore sport, gambling, and fantasy football newspaper. The first issue released on August 27, 2003, and Portnoy had homeless people hand the papers out in public transport stations in Boston. In 2007, barstoolsports.com opened to the public, and the brand started to take off. People started talking about Barstool more, and they continued to grow through word-of-mouth. People loved the content and would share it with their friends. Growing in popularity helped them move to the next stage of their business in 2010, where they would host parties at Universities around the country.
From 2010-2015 nothing major was happening at Barstool. They were growing their social media presence tremendously while still hosting parties and running their website. In 2016, Barstool company changed. Portnoy relocated the company to New York City. He then sold a 51% stake of the company to The Chernin Group. After this, Barstool Sports hired Ericka Nardini to become the new CEO. This move helped the company convert to a more lifestyle feel while including what the company was founded upon, sports and gambling. In August of 2020, Barstool sold 36% of the company to Penn National Gaming. The value of Barstool was 450 million dollars at the time of the sale. Now in March of 2021, Barstool is valued closer to 4.5 billion dollars. The increase in value is because Barstool owns a sportsbook now. Dave Portnoy has made many people very wealthy, and it is exciting to see where he will take the company in the future.
What Makes Barstool Successful
Barstool has been so successful because it has found a way to target all demographics. They want to make people laugh and have done so by making everything they talk about satirical. They have done a great job of this through their social media pages, podcasts, and unique clothing line. One of the creative things they have done to gain popularity is One Bite Everyone knows the Rules, a series hosted by Portnoy. He goes around the country trying the best-recommended pizzas and rating them. His rating has become the gold standard when considering good pizza. If the pizza has a rating is above a 7, that means that it is GOOD. Barstool also hosts a ton of popular podcasts. Some of the most well-known podcasts are Chicks in the Office, Call Her Daddy, Pardon my Take, and Bussin with the Boys. The podcasts cover everything from sports to dating advice, which helps them connect with such a vast audience. They also have made the term “Saturdays are for the boys” extremely popular and profitable. This term has also had spin-offs like “Saturdays are for the girls.” Essentially, they created a mainstream and profitable meme. Besides all of this, they also host Rough and Rowdy, which are amateur boxing matches. They have even gotten involved in stocks and investment advice over the pandemic. Barstool has had great success because of the wide variety of industries they involve themselves in. Their portfolio has helped them create their cult following, which will help them be even more successful.
