OVOvertime Financial Model
PropTech Startup Financials (Free Excel Download)
Gen Z sports media company building the largest youth sports community through social-first content, proprietary camera tech, and a network of 7,000 paid creators.
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About this model
Overtime is a Gen Z sports-media company built on social-first content, proprietary camera technology, and a network of 7,000 paid creators. It seeks to build a large youth-sports community through owned media, audience participation, and direct sports properties.
The business has multiple revenue streams: brand sponsorship, programmatic advertising, social commerce and apparel, sports IP and events, plus Overtime Elite youth basketball. It had raised more than $50 million by the time of its deck and reported 15 million international followers.
The model forecasts audience, creator output, content reach, sponsorship, advertising, commerce, and league revenue separately. Content production, creator payments, event operations, sales costs, and platform investment determine contribution margin and the economics of each audience monetisation path.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Overtime
overtimehq.com
How to build a detailed financial model for Overtime
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Overtime model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Social-first sports content platform targeting Gen Z (ages 13–34); median age 21.
- Proprietary camera technology and tech stack powers a network of 7,000 paid creators capturing highlights globally - no live rights needed.
- Content distributed across YouTube, Instagram, TikTok, Snapchat, Twitter, Facebook, Twitch.
- Original programming slate (e.g., "Today with Dre," "OT Challenge," "Prime Time 2.0," "Ma Route a la NBA") consumed by 30M+ people/month.
- Events (e.g., "The Takeover") filmed as movies; The Takeover garnered 150M+ views.
- Overtime Elite: first-of-its-kind basketball league / community for elite youth athletes, post-NDA detail.
Market
- Global sports sponsorship market: $48B.
- No formal TAM/SAM/SOM breakdown presented.
- Implicit market: brands struggling to reach Gen Z spending on platforms they don't understand; Overtime positions as the direct channel to that demographic.
Revenue model
Three revenue streams described:
- Direct Brand Sales / Sponsorship: franchise sponsorships, turnkey media, experiential / 360° packages sold directly to brands. Clients include major sports and non-endemic brands. Global sports sponsorship TAM $48B.
- Programmatic: platform revenue-sharing from Snapchat and YouTube on ad inventory around Overtime content. Expected to grow as Instagram and TikTok unlock similar monetization.
- Social Commerce (Apparel): Overtime-branded lifestyle apparel sold DTC. AOV $65+. Growing 3x YoY.
Emerging / future:
- Sports IP / Events: media rights and sponsorship revenue from owned properties (Overtime Elite basketball, The Takeover events, football).
Traction & metrics
Audience:
- 45M total followers across platforms
- 15M international followers
- 14M female followers
- 1.6B monthly video views
- 400M monthly minutes watched
- 88% of audience aged 13–34; median age 21
- #1 engagement on social platforms
- 3x YoY audience growth
- 25M unique viewers/year on Snapchat (3 shows)
- 4 of top 15 sports media accounts on TikTok
Views growth (slide 14 chart - views per month):
- Q1'19: ~650M | Q2'19: ~800M | Q3'19: ~850M | Q4'19: ~1,050M
- Pre-Covid '20: ~1,300M | Since Covid: ~1,650M+
- 39% increase in watch time during quarantine
Revenue:
- Revenue up almost 2x in 2020 even with COVID
- Historical revenues (slide 13 chart, $M): 2017 ~$0M | 2018 ~$2M | 2019 ~$7.5M | 2020 ~$14M
Commerce:
- AOV: $65+
- YoY commerce growth: 3x
- 20%+ of sales from returning customers
- 150,000 opt-in phone numbers (growing 10–15% MoM)
- 100,000 commerce newsletter subscribers
Engagement / community:
- Responded directly to >50,000 people during quarantine
- Creator network: 7,000 paid creators globally
Unit economics
- Apparel AOV: $65+
- Apparel repeat purchase rate: 20%+
- Audience acquired with $0 marketing spend - CAC effectively near-zero for media audience
- No gross margin, content cost per view, or LTV figures disclosed.
- Creator network cost basis not disclosed (7,000 paid creators but fee structure not stated).
Competition / moat
Competitive claims:
- #1 on YouTube vs. all major competitors
- #1 on Snapchat (3 shows, 25M unique viewers/year)
- #1 on TikTok (4 of top 15 sports media accounts)
- #1 in audience growth (3x YoY)
- #1 in engagement across platforms
Moat factors:
- No live rights needed = structurally lower cost base
- Proprietary camera tech and tech stack built over 3 years - "would take a competitor years to replicate"
- 7,000-person global creator network with breadth and depth
- Gen Z brand affinity built organically; first-mover at scale in this demographic
Named competitors: not explicitly named; implicitly all major sports media (ESPN, Bleacher Report, etc.) and social-first properties.
Team & funding ask / use of funds
Team:
- CEO: background in platform/apps (six #1 apps, 250M downloads)
- CRO: former CRO of Bleacher Report & Pluto TV (scaled both to $100–200M+ revenues)
- Commerce lead: former Adidas exec + Vayner growth marketing / e-commerce (from Oakley)
- Sports IP: former President of NBA G-League; former CFO of MLB
- Avg employee age: 26; ~50% non-white; 25% female
Investors:
- VC: a16z, Spark Capital, Greycroft, Sapphire Sport, Afore Capital, Correlation Ventures, Fitz Gate Ventures, Imagination Capital, Chaac Ventures, TACK Ventures
- Athletes: Kevin Durant, Victor Oladipo, Baron Davis, Carmelo Anthony
- Strategics: MSG Networks, Global Apparel Company
- Total raised: $50M+
Recommended financial model
Archetype + why: Multi-revenue media & DTC model - specifically a media / content platform P&L with DTC commerce sub-model. Overtime has three distinct revenue buckets (brand/sponsorship, programmatic platform rev-share, DTC apparel) plus an emerging Sports IP / events line (Overtime Elite). A single integrated P&L is correct, with each stream as a separate revenue schedule rolling up. Not a SaaS ARR model (no subscriptions). Not a pure marketplace (they own the content). Not M&A/SPAC.
Forecast horizon & granularity:
- Horizon: 2021–2025 (deck projects to 2025; matches 5-year build)
- Near-term (2021–2022): monthly or quarterly granularity to track programmatic and commerce ramp
- Medium-term (2023–2025): annual sufficient
- Historical anchor: 2017–2020 actuals to calibrate
Key drivers & assumptions:
*Audience / reach:*
- Total followers (monthly): 45M current → grow at 50% YoY tapering to 20% by 2025, consistent with 3x prior YoY but slowing at scale
- Monthly video views: 1.6B current → grow proportionally with followers, informed by Q1'19–Covid trajectory (~+150% over 18 months visible in chart)
*Programmatic:*
- RPM (revenue per thousand views): $0.50–$1.00 blended across Snapchat/YouTube (Snapchat typically pays more per view; TikTok/Instagram still unlocking); industry range $0.50–$2.00
- Platform rev-share %: 45–55% to creator (Overtime), per standard platform deals
- Key variable: additional platforms (Instagram, TikTok) unlocking monetization - could be a step-change driver
*Brand / Direct Sponsorship:*
- Number of brand deals: ramp from ~10–15 active accounts in 2021 to 40+ by 2025
- Average deal size: $500K–$2M for franchise sponsorships; $50–200K for turnkey/experiential
- CRO pedigree suggests $100–200M revenue ceiling is achievable at scale (Bleacher Report / Pluto TV comparable)
*Social Commerce / Apparel:*
- AOV: $65
- Repeat purchase rate: 20%+
- Opt-in SMS list: 150,000 growing 10–15% MoM → driver for commerce revenue (high-intent list)
- Apparel revenue = (SMS list size × conversion rate × AOV × orders/year) + newsletter channel
- Conversion rate: 2–5% of SMS list per campaign (industry benchmark)
- Gross margin on apparel: 45–55% (DTC branded apparel typical range)
- 3x YoY growth current rate
*Overtime Elite (Sports IP):*
- Revenue from media rights deals, sponsorships, and athlete fees; early stage, detail behind NDA
- Projected chart shows OT Elite becoming a meaningful portion of total revenue by 2023–2025
- Model as a separate line, ramping from ~$5M (2022) to ~$100M+ (2025) based on implied stacked-bar chart values
*Content costs:*
- Creator network: 7,000 creators; pay-per-highlight model; avg $50–200/highlight = significant variable cost scaling with content volume
- Tech/camera capex: capitalized and amortized over 3–5 years; proprietary system already built
- Headcount: avg age 26; heavy in creative/engineering; model as % of revenue declining from ~60% to ~35%
Scenarios (Base / Bull / Bear - which variables flex):
- Base: follower growth 40–50% YoY tapering; 2–3 new platforms monetize by 2023; brand deals ramp linearly; apparel sustains 3x growth for 2 more years then decelerates; OT Elite modest
- Bull: TikTok/Instagram unlock full ad rev-share by 2022 (step-change in programmatic); OT Elite secures large media rights deal; apparel becomes standalone brand at $50M+ revenue
- Bear: platform algorithm changes reduce organic reach; brand ad market contracts (COVID-like); OT Elite delayed or underfunded; apparel growth stalls at $10–15M
Required sheets / outputs:
- Assumptions - all drivers, color-coded vs
- Audience Model - followers, views, engagement by platform (monthly)
- Programmatic Revenue - views × RPM × rev-share, by platform
- Brand / Sponsorship Revenue - deal count × ASP by tier
- Commerce Revenue - SMS list model + newsletter + retention cohort
- Overtime Elite / Events Revenue - separate build, placeholder with scenarios
- Content & Creator Costs - creator network cost, tech capex/amortization
- P&L Summary - consolidated IS: Revenue → Gross Profit → EBITDA
- Revenue Bridge Chart - waterfall 2021→2025 by stream
- Scenario Summary - Base / Bull / Bear on key outputs
Frequently asked
Is the Overtime financial model free?+
Yes. The Overtime model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Overtime's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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