Major League Baseball has acquired an undisclosed minority stake in Jomboy Media, a fast-growing and often irreverent digital media company.
The equity deal sees the league looking to extend its presence among baseball content creators, and the agreement will involve Jomboy Media gaining access to league and team IP, participating in merchandise and sponsorship collaborations, and having a presence for some of its content on league platforms.
The two sides will additionally work to have current stars, as well as media and celebrity partners, appear on Jomboy Media’s The Warehouse Games, a sports league modeled after backyard games.
Jomboy Media is perhaps best known for its series of humorous lip-reading videos in which it breaks down often profane on-field arguments involving managers, players, and umpires. The company, however, has built a much larger business spanning social media, digital video, and podcasts, in the process garnering more than 93 million social engagements last year and nearly 400 million video views in its history.
“We think having a strong content creator community is important for baseball,” MLB EVP of media and business development Kenny Gersh tells Front Office Sports. “Having people out there with an authentic voice talking about baseball is good for us, and we want to support that where we can, encourage that, and in this case, invest in it. … A big part of this is getting them in front of more baseball fans than they already are.”
Financial terms were not disclosed, but Gersh termed the deal “a simple minority investment” and “enough to align our interests.” The agreement includes no editorial control or oversight by MLB. The league also will not be obligated to amplify every piece of Jomboy Media content.
The deal, actively in development for roughly a year, arrives just days after MLB made a separate investment in the Athletes Unlimited Softball League. While drawn from a similar venture fund in which the league invests in outside businesses, there is no additional connection between the two pacts.
“We get to keep doing what we’re doing, creating unique content and building community, but now with a lot more access, and this will open a lot of doors for us,” Jomboy Media CEO Courtney Hirsch tells FOS.
