Pocket Outdoor Media has announced a rebrand and cluster of acquisitions that significantly expand the scope of its audience and range of services.
Now rebranding as Outside, the parent company of VeloNews, Triathlete, FinisherPix and BRAIN has purchased Outside magazine and related properties – including Peloton magazine and athleteReg, which operates BikeReg.
The company confirmed it has changed its name from Pocket Outdoor Media to Outside.
Michael Moritz, a partner at Sequoia, will be joining the Outside board of directors. Moritz is also the Chairman of Crankstart, which has partnered with the Professional Triathletes Organisation (PTO) and its platform to support pro triathletes.
Speaking on behalf of Sequoia, he said “We’re investing in Outside because the management team has warmly embraced the future of information and entertainment on the internet. Just like Netflix and Amazon Prime, Outside will create and distribute distinctive content to a worldwide audience on any connected device.
“Better still, Outside will turbocharge the online programming of many of the most-loved fitness and health brands. As a long-time journalist and former ink-stained wretch, I’m now being granted the opportunity to start a new chapter – as a digital-stained wretch.”
The latest acquisition bolsters the business with a number of media properties now in its portfolio:
- Outside Integrated Media, the producer of award-winning adventure content and home to Outside magazine, Outside Studios, and the travel business Outside GO.
- Outside TV, a provider of outdoor lifestyle TV and video programming across cable, satellite, and over-the-top networks.
- Gaia GPS, a leading mobile mapping and navigation application for backcountry adventurers and professionals.
- athleteReg, one of the world’s largest event registration platforms serving runners, triathletes, cyclists, and skiers.
- Peloton magazine, a well respected source of storytelling and photography about the sport of cycling.
The closing of the Outside TV transaction specifically is subject to customary closing conditions, including the approval by the FCC of certain license transfers. The company expects the acquisition to close in the second quarter of this year.
‘The acquisitions were made possible by the closing of a Series B financing from investment partners that include Sequoia Heritage, JAZZ Ventures, Zone 5 Ventures, and NEXT Ventures. The financing and acquisition transactions will enable the company to make significant investments in audience, technology, and product development. Cooley LLP and Progress Partners advised the company with respect to the transactions.’
The newly rebranded Outside notes that… ‘The deals create a platform whose scale across television, mobile, desktop, and print is unparalleled in the outdoor, endurance, fitness, and wellness markets. The new additions join existing brands such as SKI, Yoga Journal, Women’s Running, Triathlete, Backpacker, Climbing, Clean Eating, VeloNews, Trail Runner, FinisherPix, Warren Miller Entertainment, and more.’
“This is a transformational day for our company and our customers,” said Robin Thurston, CEO of the new Outside. “Everything we do is driven by a belief that a hike, run, ride, or yoga practice can change your life, and these new brands will help us fulfil our mission to build the world’s best consumer experience across a wide range of activities.
“Each of these brands brings unique and powerful strengths to our network. The incredible reputation and relevance of the Outside brands across multiple lifestyle categories made our decision to change our company’s name a logical choice.
“Meanwhile, Gaia GPS and athleteReg significantly boost the ways we facilitate participation through best-in-class tools and services. And as a lifelong cyclist, I’m personally thrilled to welcome Peloton, one of my go-to reads for its evocative celebrations of the sport.”
He added “With these moves, we can now deliver world-class content 24/7 to almost every home in America across every platform, screen, and device. My team and I are deeply honoured to help write the next chapter for these iconic businesses.”
“Like Robin, I’ve always believed in the power of great storytelling,” said Larry Burke, founder, Chairman, and Editor-in-Chief of Outside Integrated Media, which reaches 38 million people a month across all platforms.
“When we published our first issue of Outside magazine in 1977, we helped give birth to what is now a US$887 billion outdoor industry, and we’ve been pioneering the art of adventure ever since. Our stories have won awards in print, video, and film, and we’ve inspired millions of people to ‘live bravely.’
“It’s everything I could’ve wanted to do with my life, and I’m delighted to find such a good home for Outside among POM’s outdoor brands.”
Burke, who won the Outdoor Industry Association’s Lifetime Achievement Award in 2019, is set to tackle his next project – a book about his life – while continuing to pursue his passion for living an active outside life.
‘The new businesses will continue operating out of their existing locations and will immediately begin working on a range of synergies that the company’s technology platform makes possible. Most significantly, the acquisitions bring new benefits to the company’s Active Pass membership, the US$99 per year offering that gives consumers access to hundreds of dollars in value in the form of premium digital content, print subscriptions, event entries and photography, books, gear discounts, a personalized feed, and interactive experiences with editors, pro athletes, coaches, and other experts.’
www.PocketOutdoorMedia.com
www.OutsideOnline.com
