Versant Media Group (VSNT) 18th Annual Sports & Media Symposium summary

Company overview and differentiation

• Recently spun off, the company focuses on four verticals: business news, political news, golf, and sports/entertainment, leveraging iconic brands like CNBC, MSNBC, Golf Channel, and USA.

• Over 60% of audiences are engaged in live news and sports, with a strategy to invest in these verticals for growth.

• The golf vertical is multifaceted, including media, tee time booking (GolfNow), direct-to-consumer (GolfPass), and software services for golf courses.

• Differentiation comes from integrating across verticals rather than aggregating cable networks, focusing on revenue synergy.

Digital transformation and direct-to-consumer strategy

• Significant investments are underway in direct-to-consumer offerings for MS NOW and CNBC, aiming to launch MS NOW DTC before year-end with interactive and expanded content.

• CNBC's DTC product will target both professionals and retail investors, enhanced by the acquisition of StockStory, an AI stock recommendation engine.

• Fandango is expanding beyond ticketing into AVOD and home video, leveraging data for targeted content and growing its free TV network portfolio.

• The goal is to shift from 80% pay-TV revenue to a 50/50 split with non-pay-TV over time.

Growth opportunities and international expansion

• GolfNow books 40 million tee times annually, with growth targeted through increased sales staff and international expansion into the UK, Ireland, Germany, Austria, France, South Africa, and Australia.

• Platform businesses like Fandango and GolfNow are growing in the high single digits, with loyalty and rewards integration planned.