Religion of Sports, the sports media production company co-founded by Tom Brady, Michael Strahan and filmmaker and entrepreneur Gotham Chopra, has raised $50 million in a new series B funding round led by Shamrock Capital.
The big picture: Production companies founded by star athletes are booming in the streaming era, as entertainment networks scramble to find content that will break through.
Details: The company will use its new capital to grow its unscripted content business, invest more in audio, produce more scripted series and build out side projects, like creating NFTs for athletes.
By the numbers: Sankaran declined to disclose exact revenue numbers, but said the company is "well into eight figures in revenue" and has been since 2021.
Catch up quick: Religion of Sports was founded in 2017 with a focus on unscripted, documentary-style programming. It's since launched dozens of titles with many elite athletes, distributed across an array of streaming platforms, including Facebook, ESPN and Apple TV+
Between the lines: The company's unscripted business is profitable, Sankaran said, but the capital raise will help it invest more in unscripted projects for other athletes. Much of the company's content touches on themes around wellness and inspiration.
The big picture: Sports documentaries and series starring athletes have become popular as streamers look for content that could attract new audiences outside of traditional entertainment, like scripted comedies, sitcoms and adventure series.
What's next: Sankaran said the company is eyeing acquisition opportunities as the market slows and buyers become more discerning.
