Barstool Sports is a pop culture and sports blog. It covers the latest news and highlights of each and every day with podcasts and blogs. It was founded in 2003 by David Portnoy in Milton, Massachusetts. The site’s major investors are The Chernin Group and Penn National Gaming. Currently, the company is headquartered in New York City. The current CEO is Erika Nardini. Barstool Sports is the 6th most popular podcast publisher in the U.S. Its satirical take on everything has earned it a loyal following.
Barstool Sports was launched during their initial set up in the year 2003, near the Boston metro suburb. It offered different advertisements for gambling and fantasy sports projections. Over the next few years, the paper began to grow. The company made its Internet debut in 2007. The paper’s look began to change, as well. In 2014, it was announced by AOL that they would start airing content from Barstool Sports. The material was going to be only exclusive.
Over the years, the site has come under criticism because of its unique brand positioning and voice. In January 2016, the founder of the company, David Portnoy, announced that The Chernin Group had purchased a majority of the company, and they would shift their headquarters to New York City.
In January 2016, it was announced by Portnoy that The Chernin Group had bought 51% of the company. He also declared that the headquarters would be shifting to New York City. Following the acquisition, Portnoy became the Chief of Content. Their head writer Keith Markovich was also announced as the new head editor. In July 2016, Erika Nardini was announced as the CEO. She was previously the chief marketing officer of AOL.
During Super Bowl LI week, Barstool announced broadcast of The Barstool Rundown. The company shifted its gears after Pat McAfee reported that he was retiring to launch himself as a contributor to the site. Michael Rapaport was fired in February 2018, after he made derogatory comments towards the site’s fan-base. Frank Kaminsky, who was a famous basketball player of his time, started his podcast, titled “Pros and Joes.” The podcast is hosted by him and three of his friends from high-school.
In January 2020, it was announced that Penn National Gaming had purchased some stake for $136 Million. It was revealed that they had bought 36% of the company. Following the sale, the Chernin Group maintains a stake in the company.
The site now provides a different variety of things, such as podcasts, blogs, and video series. Forbes reported that Barstool Sports was averaging over 8 million visitors in a month.
Awards and Achievements
Since its inception, it has achieved numerous milestones. They first started as a print publication, but then after they got famous, they launched themselves to the Internet. They then began to report sports and pop culture stuff. They got recognized for their unique style of reporting significant incidents. Many big sports celebrities appeared on the site. They also started to broadcast television shows. Many NFL players have also appeared in their podcasts to share their views.
Net Worth of Barstool Sports in 2021
After the purchase of Barstool Sports by The Chernin Group and then by Penn National Gaming, the current net worth of the company is estimated to be around $450 Million as of May 2021. The company’s vision is to increase its net worth to $3 Billion by 2023—the company’s founder David Portnoy, valued at $60 Million. But after getting the net worth of the company to $3 Billion, his value is expected to increase to more than $100 Million.
The company has become one of the most popular blog and podcast channel in the past few years. They have gained a vast audience and have maintained their unique style. Due to their satirical style of providing information, they have been involved in some controversies as well. They have also started to offer streaming and Video on Demand Content. They are available on Amazon FireTV, Apple TV, and Roku TV.