Snappy Third Quarter

Snap Inc. reported 52% revenue growth year-over-year in its third quarter with sports playing a significant part in its solid earnings. Still “early” in its sports timeline, Snap executives said they’re happy with the audience and revenue growth around premium sports content.

In September, more than 40% of the U.S. Gen Z population watched sports content on Snapchat. With fans forced to stay home to watch live events during the pandemic, Snapchat rolled out new immersive activations and experiences for fans to stay connected to sports.

Increased innovation coincided with a maturing monetization strategy that paid content partners 85% more than the same quarter last year. With a wide offering of products and sports’ high visibility for advertisers, Snap is quickly expanding its dynamic, personalized ads and augmented reality partnerships.

Snap Sports Snapshot:

40% of U.S. Gen Z population watched sports.

20% more engagement than last season on the NBA highlights channel.

80% July to September increase for “SportsCenter” viewership on Snapchat.

One of the premier NCAA Division I women’s basketball programs is included in a pay discrimination settlement. UConn has agreed to pay $249,539 to seven women, including four members of the 2014 women’s basketball staff after the U.S. Labor Department found that they were underpaid compared to men in similar positions.

Chris Dailey, the women’s associate head coach that season, received a salary of $313,000. The men’s team didn’t have an associate head coach, but the men’s assistant coach — a lower position — made a little over $312,600.

The Huskies won four National Championships in a row from 2013-2016 and began a record 111 game winning streak in 2014 that ended in 2017.

Among The Underpaid Positions:

Women’s Associate Head Basketball Coach 

Assistant Basketball Coaches

Director of Women’s Basketball Operations

Director of Football Operations

Flick, a sports chat platform, has raised $5 million in a Series A funding round. To date, the company — started by FanDuel founders Nigel Eccles and Rob Jones — has raised $9 million. 

With the new funding, Flick will look to extend its current upward trajectory by expanding into sports betting. Since May, the platform has reportedly grown its users 45% month-to-month.

Used in 180 countries, Flick allows influencers to “authentically engage” with fans during games through live chats, quizzes and questions. 

Other App News

YouTube TV could launch an app store, which will include a Fantasy Football app as its first test. Rather than keeping scores to a second screen, the app will present a better all-in-one user experience — and offer potential upsells like daily fantasy sports operators.

Quibi’s founder Jeffrey Katzenberg reportedly told investors yesterday that the streaming service is shutting down. After launching in April, the quick-format media platform — which featured content starring high-powered celebrities like Anna Kendrick and Chrissy Teigen — wasn’t able to catch on despite raising $1.75 billion. 

Failing to garner adequate viewership early in its run, Quibi recently hired a restructuring firm to figure out its path forward. It even reportedly pitched NBCUniversal on a sale.

Prior to its launch, Quibi had more than $150 million in ad revenue, including from companies like Pepsi, Walmart and Anheuser-Busch. The conventional star power, quick format and $4.99 per month fee apparently didn’t click with the modern media consumer.

Quibi’s Sports Shows:

• LeBron James-produced “I Promise” 
• Megan Rapinoe-hosted “Prodigy”
• Sneaker show “You Ain’t Got Those”
• TSN’s “SportsCentre AM”
• ESPN’s “The Replay”
• Dance show “The Sauce”
• WWE female superstars’ show “Fight Like A Girl”