With ad revenue down 20% or more, Barstool Sports retools for the loss of live sports and events.
Barstool CRO Deirdre Lester projects that the publisher will be down 20-25% in advertising in the “short term,” adding that the second quarter has always been a bit slower for live sports anyway. Meanwhile, earlier this week, the New York Times announced in its first quarter earnings call that ad revenue will have a 50-55% drop by the end of the second quarter.
“In the long term, I’m not adjusting goals yet and I’m optimistic that given what we saw in March and April, the partners that are with us will be willing to take advantage of the new content that we’re creating,” said Lester.
In order to hit those goals, Lester said in the latest episode of The New Normal, that her team is now focused solely on selling the things that can be controlled. This means pitching new digital editorial products, while completely taking live events out of the conversations, for instance its 14-match, country-wide golf tournament that was meant to start in April but has since been tentatively pushed to run from June to October.
Read more at: