Discovery, Inc. continues its drive into golf with the acquisition of Golf Digest.
Discovery had already entered the golf space, attaining exclusive rights deals outside the U.S. for the PGA Tour, European Tour and Ladies European Tour. GOLFTV, an international streaming service launched by Discovery this past New Year’s Day, is in year one of a 12-year, $2.4 billion deal carrying the PGA Tour’s TV and streaming rights outside the U.S. Discovery also has global content deals with Tiger Woods and Francesco Molinari, using GOLFTV as its platform.
The bullish approach follows the trend of niche content in today’s media landscape. Discovery knows this firsthand with Food Network and MotorTrend. In sports, Discovery has had success with Eurosport and realizes sport fans crave consistent coverage.
“We’re looking to evolve our business and investing in content and genres that work for traditional and digital channels,” says Alex Kaplan, Discovery Golf president and general manager. “We learned from our experience with Eurosport Player, it’s very difficult to build an engaged fanbase when we offer multi-sport content.
“Let’s go deep into a specific vertical. Golf rights were available in an expansive way, and it’s not just compelling to watch, but fans play it, buy it, travel for it. It’s an ecosystem that was particularly compelling.”
The acquisition includes all brands under the Golf Digest brand, including Golf World, Golf Digest Schools and The Loop. According to the press release, Golf Digest attracts 4.8 million monthly readers and 60 million monthly video views. That’s along with its 2.2 million social followers.
This is Golf Digest’s third transition of ownership in its nearly 70 years of operation. All three have brought the media company different advantages, says Golf Digest editor Jerry Tarde, who’s been with the company for 42 years.
Tarde said The New York Times, which acquired the magazine in 1969, brought the basics and values of journalism, while Conde Nast, the owner since 2001, brought design, art and sophistication to the brand. Now, Tarde believes Discovery will bring growth.
Tarde, along with being editor-in-chief, gains a new title and role: Discovery Golf global head of strategy and content.
“This is an organization we’re at the heart of, in terms of developing sports and connecting with a high-value audience that’s passionate about the subject,” Tarde says. “This is the most exciting thing to happen to Golf Digest since it was founded in 1950. It lights a fire under us and gives us an opportunity to improve and expand U.S. coverage.
“We’ll also be able to extend it worldwide to more than 200 countries.”
On the other side of the equation, the acquisition gives Discovery a golf presence in the U.S. Kaplan said Discovery has been collecting its golf assets and knew an editorial vertical would be crucial, but it could take years to build. The Golf Digest acquisition allows Discovery to acquire that piece with one check.
“Our offering to golf fans and golf advertisers is now that of a global platform,” Kaplan says. “We can bring an aggregated golf audience anywhere in the world.”
With a strong strategy in place, it will be business as usual for the time being, Tarde says, but there will be talk of new ideas and potential investments. Discovery will retain Golf Digest staff, continue the U.S. monthly print product and acquire global licenses for editions 70 countries.
“We’ve got a great team that’s been underutilized, really,” Tarde said. “Because of the way the publishing economy has been treated, our business has been in retreat. That’s now the way I spent my first 30 years. We were charging.
“This is the exciting part, we’re back on the charge.”
Like Tiger Woods on the prowl on Sunday.