LRC POOL: Predict the shutdown of Flocasts, Inc.

I don't know about their financials, but they recently got denied big time by sport climbing (big debut in Tokyo) because of the uproar by athletes and fans of having previous free coverage go behind a paywall. Their reputation is mud among the sports they cover.

We May Never Know wrote:

I don't know about their financials, but they recently got denied big time by sport climbing (big debut in Tokyo) because of the uproar by athletes and fans of having previous free coverage go behind a paywall. Their reputation is mud among the sports they cover.

I turn the volume off on all of their broadcasts. Their race calls make my ears bleed. The blond chick that does post race interviews is super attractive, but NOT good at her job- seems really nervous and unprepared with her questions or something.

Listen to this cringeworthy broadcast, but be warned of the deleterious effects on your brain/ears:

Debt is cheap right now. They'll keep going as long as they are ok with eventually defaulting on everything.

Flosports and Milesplit are one and the same company. I have a feeling that about 95% of the company's employees PAY to work for IT!

Perhaps the top 1% make $35-$45,000 per year.

I wish I had the factsheet for this.

I also suggest that many of the other companies such as LRC are virtually the same. No wonder they are failing. It's called stupidity in management!

I liked Flotrack the early years. Now it is painful to watch. Would never pay.

If LRC ever started charging for the privilege to troll I'd say adios. Give me freedom, or give me free tacos. Build the wall, build it tall.

Stand for Anthem

Ginger Lives Matter

Boom,boom,boom

MAGA

Anonymous by choice again wrote:

Flosports and Milesplit are one and the same company. I have a feeling that about 95% of the company's employees PAY to work for IT!

Perhaps the top 1% make $35-$45,000 per year.

I wish I had the factsheet for this.

I also suggest that many of the other companies such as LRC are virtually the same. No wonder they are failing. It's called stupidity in management!

Many employees are most likely unpaid interns. That is why there is a constant turnover of those providing updates for the state coverage sites. Many complain about lack of articles or poor articles. If you can only afford interns and a few paid employees working on the actually content then your not going to be able to provide good writing. Most state sites do not have enough subscribers to make it worthwhile financial for someone to take on the role of running a state site for Milesplit. Milesplit provided onsite coverage at one or more meets in my state but they attracted so few new subscribers that they cut back on coverage by either using local contributors or by linking to someone else's feed without permission or even giving credit to a non-profit who was providing the live feed.

I have been following Flocasts attempts to grow over the past few years and assumed they were attempting to grow enough to get noticed and purchased by one of the big media companies. I could not see how they could grow the subscription base enough to cover new expenses. There are only so many athletes and families of athletes interested enough in high school and collegiate running who are willing to pay for a subscription. There are too few interested in the sports and Flocast websites for the banner ads to provide significant income.

I assumed they were struggling, until I read this. Not only do they cover over 20 sports, but apparently they're growing by 30,000 new subscribers per month. Looks like they'll be around for a while.

https://www.inc.com/magazine/201710/tom-foster/flosports.html

The above article is what you call propaganda with the negative connotation. These guys inflated their numbers to attract potential investors. No way 30,000 people are coming in per month. That is total bull and where there is smoke there is fire. They inflated their numbers at the milesplit acquisition too. Just wait until they start downsizing their staff.

It's astonishing that Heath is that fast, considering how heavy he looks in that race (going out in 1:51!) in comparison to Jager. If Heath were at Jager's body fat level, he might be low 3:30.

They may be growing rapidly but they are private so we have no idea what their numbers are. They do a service for our sport but also a disservice in preventing us from seeing events that they have nothing to do with producing, such as the Berlin Marathon.

These guys definitely play fast and loose with the truth. They try to create a lot of hype around theit events. Everything is epic....even the most banal collegiate xc invitational. Looks like they can't even afford to produce their beer mile. Maybe their VC is keeping them accountable...maybe they're burning through cash...maybe, both? If you are adding 30k subscribers a month...adding $27M a year in revenue in year (180k x$150/year)... you should be able to produce a mile. I predict December 2019.

burn rate wrote:

The above article is what you call propaganda with the negative connotation. These guys inflated their numbers to attract potential investors. No way 30,000 people are coming in per month. That is total bull and where there is smoke there is fire. They inflated their numbers at the milesplit acquisition too. Just wait until they start downsizing their staff.

burn rate wrote:

They currently list 168 employees and by my calculations have cash to seat them until August 2020 or the next Olympic games.

How do you a) know how many employees they have and b) Have any idea what their burn rate is?

How many subscribers do they have?

IF you have 168 employees at 40k each, then you'd need 44,800 subscribers at $150 each to break even (ignoring other costs/revenues).

Rojo...you also have to take into account:BenefitsRent and utilitiesEquipment and TecnologyTravelLegal feesEvent rights and productionConsulting FeesThats just a start

rojo wrote:

burn rate wrote:

They currently list 168 employees and by my calculations have cash to seat them until August 2020 or the next Olympic games.

How do you a) know how many employees they have and b) Have any idea what their burn rate is?

How many subscribers do they have?

IF you have 168 employees at 40k each, then you'd need 44,800 subscribers at $150 each to break even (ignoring other costs/revenues).

They may not be shutting down as soon as people think.I just looked into the sign up costs - it's gone up 50%. It's $29.99.

If the gorge the customer enough, they may find a price point where they survive.

Milesplit is huge with high school athletes and their parents who pay for a subscription. Just about every coach on every team has a subscription also. And, it is a must for college coaches today to have a milesplit account. If they get into financial trouble, it was due to mismanagement and not demand for their service.

Asking the cameraaboriginals and crewhomosapiens of Runnerspaceplaces and Flowtrackexpanses they get $150 per day no overtime. SEC-TV Uniion rate is $2000 per day. So career wise it's for rich kids living on the Familia Drug Cartel.

Here it comes!

https://www.fightful.com/report-ceo-flosports-stepping-away-company

rojo wrote:

burn rate wrote:

They currently list 168 employees and by my calculations have cash to seat them until August 2020 or the next Olympic games.

How do you a) know how many employees they have and b) Have any idea what their burn rate is?

How many subscribers do they have?

IF you have 168 employees at 40k each, then you'd need 44,800 subscribers at $150 each to break even (ignoring other costs/revenues).

Bump