The GIST Makes A Move Into Sports Business Coverage

These are heady times for The GIST, a women-owned, women-operated sports media startup.

Investment and a newsletter list that now tops 400,000 subscribers means a series of newsletters are ahead, along with podcasts and other expansion efforts.

Yet The GIST turned to veteran women’s sportswriter Pardeep Cattry with a very specific assignment for the second-ever newsletter, following the success of the main offering: sports business.

“One of the biggest sports stories in recent years is the continual rise of women’s sports,” Cattry said. “Indicative of that rise is the increased investment players and organizations in the women’s sports ecosystem are receiving. These stories sometimes go uncovered, not because they do not rise to the level of being newsworthy but because the sports media landscape remains inequitable. I am thrilled to join The GIST as we do our part to bridge the coverage gap and help tell a more inclusive and accurate story of sports.”

I spoke to The GIST co-founder Ellen Hyslop to dig deeper into this effort, and what it means for the company at large.

1. Tell me why Sports Business was your second-ever newsletter? Why this specifically?

Less than 4% of sports coverage is on female athletes, and sports business coverage has similarly failed to adequately cover the business side of women’s sports.

One of the biggest stories in the sports industry of the last several years has been the rise in women’s sports. Viewership numbers, sponsorship deals, and investments in women’s sports have all been trending up. And yet the coverage hasn’t been there, not because these stories aren’t newsworthy, but because the sports media landscape is still inequitable.

Three years ago we saw an incredible business opportunity resulting from the lack of female-centric sports news content, which led us to founding The GIST. And now we see another opportunity to bring a focus on women to the business side of sports too, including providing context, curation, as well as macro and micro analysis on the latest news.

Women’s sports presents a unique growth opportunity in the sporting landscape, creating an ever-increasing need to provide news coverage. The GIST’s new sports business newsletter is now one of the few centralized places to receive updates on the business side of women’s sports (while being entertained along the way too).

From our vantage point of working in this industry over the last few years, it’s been clear the space has been heating from the increased interest from our audience, investors and brand partners.

From an internal perspective, our data, insights and conversations with our audience were all pointing to this need for women’s sports business coverage. We could tell our community was hungry for the stories about the successes and impact of women in the sports industry as well as news about advancements in gender equity.

We also felt a responsibility from a brand mission perspective too. Ultimately we started The GIST with a mission of leveling the playing field in sports and this extends beyond sports stories and into the business of sports as well. We’re thrilled to bring our signature voice, perspective and curation to the women’s side of business sports.

2. What was it about Pardeep that impressed you the most?

There was a lot! First and foremost we were impressed with her work. Our team had already been following her and her content at SB nation and her pieces for The Athletic, The IX, and The Guardian. We loved the way she spoke about and analyzed soccer. But even more, we loved the intersectionality component to her work and the way she didn’t shy away from talking about the ways in which sports and social issues intersect, which we at The GIST believe is an essential part of the discussion. We suspected it would allow her to bring an important perspective to women’s sports business.

One month into the new newsletter and we’re already so pleased with the way Pardeep has been able to transition her journalistic talents and knowledge of our space to The GIST’s sports business vertical. Her ability to source the most important women’s sports business stories and her editorial talent have been central to bringing the newsletter to life and earning The GIST a reputation early on for being a credible, engaging and centralized place to receive updates on the business side of women’s sports.

3. What do you think was the most undercovered sports business story in women’s sports this past year, and why?

It’s a tough question because just about everything is undercovered! But if we had to pick one, we think people are sleeping on the state of women’s hockey right now.

From a business standpoint, it’s been very fascinating to follow the space lately. There’s a tense relationship between the PHF and the PWHA for a variety of reasons (which we discuss frequently on our podcast, The GIST of It). There’s an opportunity for the NHL to be a huge backer and supporter of a sustainable women’s hockey league. However, they are hesitant to do so.

The PWHPA has all of the top hockey players in the region in it, the US-Canadian gold medal game saw incredible viewership numbers at the Beijing Olympics and sponsors are flocking to the league. The PHF, though, is racking up partners and investors, putting millions of dollars into its league.

An amalgamation of the leagues seems difficult, though it does feel like there’s room for both. It’s an extremely fascinating situation from a business standpoint, and a solution will have an extraordinary impact on women’s hockey for years to come. It’s surprising to us that more outlets aren’t talking about it.

4. Does it seem like there’s a mass understanding underway that women’s sports is big business, and if so, what leads you to that conclusion?

Absolutely. There’s undeniable momentum behind women’s sports right now so it’s a really exciting time to be a part of it.

We’re seeing a trend of increased investment and interest in female athletes, their teams and their leagues. Angel City FC, founded in 2020 by big-name founders and investors including Natalie Portman, Abby Wambach, America Ferrera and more, recently announced that the club had already booked $35m in sponsorship revenue, despite (at the time) not yet playing a game. President Julie Uhrman also shared that the club has sold over 14K season tickets ahead of its first season. For context, MLS team LA FC sold just over 18k season tickets for its 2020 season.

Women’s sports TV viewership has also been reaching all-time highs across sports. The gold medal hockey game between the US and Canada at the Beijing Olympics drew an average of 3.54 million viewers on NBC, more than any NHL game televised in the US this season and making it the second most-watched hockey game in the US since the 2021 Stanley Cup Final. In the NCAA world, women’s March Madness ratings are through the roof with viewership up 15% through the first two rounds according to ESPN. Plus, the women’s tournament has averaged nearly 20% more minutes of brand exposure during games than the men’s tournament.

Female athletes are also earning first-of-their-kind sponsorships. In the first March Madness of the NIL era, UConn’s Paige Bueckers and Louiville’s Hailey Van Lith have the highest social media earning potential among Sweet 16 players and women’s players make up 11 of the top 20 athletes. Over in the tennis world, 19-year-old Emma Raducanu added Porsche to her growing list of endorsements alongside Vodafone, Dior and Tiffany & Co.

These examples are all from the last few months and there are so many more indicating the rapid rise of women’s sports. We’re already having so much fun covering it all in our sports business newsletter!

5. Last February, I asked you what The Gist wanted to be in five years, and you told me this: “Our vision is for The GIST to be the go-to source for sports for underserved sports fans, or what we like to call a “new type” of sports fan or “evolving” sports fan.”

A year-plus on, how close are you to that goal, and has the goal changed?

We’re really happy with the progress we’re making towards that goal and with the growth we’re seeing in our audience, our team and our partnerships. We’re also proud to be part of a space that is growing and changing.

Our genuine hope is that others will see the business of women’s sports as not only necessary for our society to thrive, but also an incredibly lucrative business opportunity. This shift in perspective is what will allow us to level the playing field in sports.

As much as our vision is to be that go-to place for evolving and underserved sports fans, it’s also still very much about our impact in the industry as a whole.