On the latest episode of JaneWallStreet Presents: At The Table, a bi-weekly podcast exploring the intersection of sports, media, and finance through the lens of (mostly) female decision-makers, JaneWallStreet Executive Chair, Deirdre Lester, sits down with her former colleague, Barstool Sports’ first CEO and Co-Founder of Mule Media Erika Ayers Badan.

In this 45-minute conversation, the pair discuss a multitude of topics including:

Arrival of the Niche Media Era

Credibility has become increasingly scarce in digital media. That has created an opportunity for smaller, purpose-built and/or personality-led brands to spur deep audience engagement.

“One of my biggest learnings from Food52 was just how dead that era of [going] to a website the editor has [curated] for you is. That is an ugly, ugly minefield,” Ayers Badan said. “The [most valuable] currency [with consumers] is now trust, especially with AI just making so much content, [because you know] what's not infinite? Meaning, connection, and community. So, that's really why Mule Media [is positioning itself] as a community company; it's a database of people with intention, and an environment where there's a lot of trust [between creator and consumer].”

The Lawyers Behind the Business of Sports.

Advising the dealmakers across the global sports industry.

The Death of the Mega-Creator

While some next-gen media brands will end up being sizable businesses, scale is unlikely to emerge from any one influencer or talent. It’s more likely to be achieved through aggregation.

“The world is just much more narrow [today]. There's not going to be another Alix Earle. There's not going to be another Alex Cooper, Dave Portnoy, [or even Dan ‘Big Cat’ Katz] built the way [they were] because the algorithm has changed. It's actually not possible [to build a following that size anymore],” Ayers Badan said. Instead, “I'm making the bet that [there's] going to be a lot of small [creators and influencers and am working to bring them together]. It's all singles. And maybe some of them get to doubles. Maybe some of them get to triples. But it's not [going to be] the bases loaded home run…The platforms are [in] a different era [now] where it's just harder to see breakout stars.”

The Trillion-Dollar Decision-Maker

Mule Media is a woman-founded, woman-led company built in service of women. Ayers Badan envisions it playing an influential role within sports and entertainment in the years ahead as savvy executives increasingly pursue more effective means of influencing household spending behavior.

“Mule will be really important because if I'm a private equity- [backed ownership group] or I'm a team and I need to sell tickets, I'm going to the moms. Moms drive a trillion dollars worth of purchase decisions every year, including what sport your kid plays, how often they play it, how many private coaches [the kid has, and how many] tournaments [they participate in]. And also, [they typically manage the family’s] disposable income; what [is it going] to?”

📺 Watch the full episode on JohnWallStreet’s YouTube page.
🎧 Listen or watch on Spotify.

We’ll be back with the next episode of JaneWallStreet Presents: At The Table in two weeks. Athlos’ Acting President Kayla Green will be our guest.

Catch previous episodes of At The Table, including our sit-down with LOVB Chief Growth Officer Stephanie Alger, Amazon Web Services’ (AWS) Global Head of Sports Julie Souza, and Head of Fubo Sports Network & Fubo Studios Pamela Duckworth on JohnWallStreet’s YouTube channel.

Don’t forget to like and subscribe!