The GIST: Redefining Sports Media and Securing New Funding

The founders of The GIST, all avid sports enthusiasts, identified a gap in the sports media landscape in 2018. They observed that existing coverage often failed to adequately address audiences beyond the traditionally male demographic.

Consequently, they launched a novel sports media venture, pivoting from their established careers in Toronto’s financial sector. This represented a significant career risk, driven by a belief in a different approach to sports journalism.

Significant Growth and Investment

Following a remarkable 350% audience increase throughout 2020, Jacie DeHoop, Ellen Hyslop, and Roslyn McLarty successfully secured $1 million in seed funding.

Investors in this round included 3GP Capital, JDS Sports, August Group, Even Odds Investments, and Bettor Capital. Furthermore, a $350,000 loan from the Business Development Bank of Canada supplemented this venture capital, resulting in a total of $1.35 million in new funding.

Addressing Representation in Sports Media

Roslyn McLarty, The GIST’s head of finance, operations, and growth, highlighted the existing disparities within the sports industry. “Less than 4% of sports coverage focuses on female athletes, and women comprise less than 14% of sports journalists,” she stated.

This underrepresentation contributes to a disconnect for many potential fans. McLarty explained that they sought to create a community where individuals felt more included, inspired by a growing trend of media companies prioritizing authentic audience relationships.

Inspired by Successful Media Models

McLarty referenced media companies like theSkimm, Morning Brew, and The Hustle as models for their approach. These ventures demonstrated the effectiveness of building a community from the ground up and fostering genuine connections with their readership.

This strategy, combined with the recognition of a substantial, underserved audience, led to the creation of The GIST. The platform began as a newsletter and has since expanded to include a news website and a podcast.

A Focus on Accessibility and Inclusivity

“Our initial goal was to make sports more accessible, inclusive, approachable, and enjoyable for the casual fan, or the female fan,” McLarty explained. “Essentially, for anyone who hadn’t found a connection with traditional sports media.”

The founders questioned why they, with their backgrounds in finance, chose to enter the media business. They acknowledged an initial adjustment period, but ultimately discovered a previously unserved audience, which has proven attractive to advertisers and brand partners.

A Valuable Audience and Strong Revenue Growth

“We’ve identified an audience that holds significant value, and there hasn’t been a clear pathway for brands to effectively engage with a female audience through sports,” McLarty noted. “We’ve carved out a niche and built the business efficiently.

The initial challenge was investing in audience growth, but once a critical mass was achieved, the newsletter’s margins became exceptionally favorable with each new subscriber.”

Partnerships and Future Growth

The GIST has established partnerships with prominent brands, including the NBA, FanDuel, Red Bull, and Adidas. The company reports a revenue increase exceeding 1,000% compared to the previous year.

They are on track to reach $1 million in total revenue for 2021. The new funding will be allocated to team expansion, with a focus on content creation, sales, and operational roles.