Discovery, best known for its popular science documentary network The Discovery Channel, is becoming a major player in the digital sports broadcast world. Having launched GolfTV earlier this month, the company is now adding cycling to its roster, with the purchase of a controlling stake in Play Sports Group.
Back in 2017, Discovery acquired a 20 percent stake in Play Sports Group, but the recent deal upgrades that holding to 71 percent. Play Sports Group, which was founded in 2012, owns digital brands that include Global Cycling Network, Global Mountain Bike Network, and Global Triathlon Network. Its content focuses on tutorials, training, product reviews, and behind-the-scenes video. Play Sports’ combined channels generate more than 45 million video views per month.
“Our partnership with Play Sports Group accelerates our global direct-to-consumer sports strategy and gives us an unprecedented opportunity to create a single global cycling destination for fans around the world,” said Peter Faricy, CEO of Global Direct to Consumer at Discovery Inc., in the press release announcing the deal. “We know the value Play Sports Group bring to our portfolio and we’re excited by the possibility of building a 360-degree proposition that combines the strength of their digital-first, fan-centric content, alongside Eurosport’s premium live broadcasting rights and existing direct-to-consumer platforms.”
Discovery already had a significant cycling footprint in Europe through its ownership of the Eurosport network. Eurosport is the rights owner to a host of cycling events in Europe, including all three Grand Tours—the Tour de France, the Giro d’Italia, and the Vuelta a España. Through its streaming service Eurosport Player, fans in Europe can gain access to more the 200 days and 2,500 hours of cycling coverage this year.
“The combination of Discovery and Eurosport’s leading package of cycling rights, its resources, infrastructure and company philosophy, combined with Play Sports Group’s massive community of cycling fans means we have a phenomenal package,” said Simon Wear, founder and CEO of Play Sports Group, in a statement. “The opportunity to build a world class digital destination, in multiple languages, for cycling fans the world over is one that’s just too good to miss.”
SportTechie Takeaway
Discovery values the worldwide cycling ecosystem, including events, technology, content, and lifestyle services, at $50 billion. Cycling has been called “the new golf” because it has become a participation sport that attracts business executives. Like golf, affluent cycling fans can spend money on a range of different products and technologies, and where informal business meetings might traditionally be held on a golf course, some have now moved to group rides. Given the similarities between the two, the fact that Discovery has been building its digital offerings in both golf and cycling is perhaps not a total coincidence.