RGRebel Girls Financial Model
Media/Gaming Startup Financials (Free Excel Download)
Rebel Girls is an omni-channel media and consumer brand building confidence in Gen Alpha girls (ages 6–12) globally through books, audio, digital, events, licensing, and entertainment.
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About this model
Rebel Girls creates books, audio, podcasts, licensing, events, and brand partnerships to inspire girls aged 6–12 and their families. Its universe includes award-winning audio, a charting podcast, consumer products, and a pipeline spanning entertainment formats, retail activations, and live experiences.
Book sales are the historical core, while the app can support subscriptions, podcasts attract advertising and sponsors, and licencees generate royalty income. Partners include Nike, Athleta G!RL, Alaska Airlines, and Google Kids Space. The research gives no segment pricing or revenue split, so each channel needs a separate schedule.
Since 2016, Rebel Girls has sold 8.5 million books in more than 110 countries and 50 languages, reached 23 million girls, and generated 22 million podcast downloads. The app has 135,000-plus downloads and a 4.6 rating. The model should build books, app retention, licensing, partnerships, events, content costs, and distribution margin.
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 Rebel Girls
How to build a detailed financial model for Rebel Girls
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Rebel Girls model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Mission: raise the most inspired and confident generation of girls.
- Core audience: girls ages 6–12 and their families. "Parent-trusted, girl-loved."
- Product pillars (omni-channel universe):
- Books: publishing (non-fiction stories of inspiring women), 85+ titles targeted by 2025.
- Digital / Audio App: award-winning audio app (Apple Design Award 2022 winner); 4.6 stars from 8,678 ratings.
- Podcast: "Rebel Girls" podcast - chart-topping, People's Choice Podcast Award (3x).
- Consumer products / licensing: apparel, accessories, stickers via licensees (Build-A-Bear, Mad Engine, Fashion Angels, Centric Brands, Jay Franco, etc.). Global licensing rep via King Features / Hearst (Dec 2022).
- Partnerships: branded content / co-created audio stories with Nike, Athleta G!RL, Alaska Airlines, Google Kids Space.
- Events: Rebel Girls Fest, Take Your Rebel to Work Day, retail in-store events (Barnes & Noble), corporate events.
- Entertainment (pipeline): Broadway show, live-action series, docuseries, YouTube, Roblox/Minecraft/NFTs.
- Empowerment flywheel: Inspiration → Identification → Activation → Connection.
- Certifications: Certified B Corporation, Women Owned.
Market
- Problem framing: 8/10 girls want to feel more confident; by age 14, girls have 30% lower self-esteem than boys.
- Reached community: 23M girls and growing; 2025 target: 50M girls globally.
Revenue model
Revenue streams inferred from product pillars (no explicit P&L or pricing slide in deck):
| Stream | Model | Notes |
|---|---|---|
| Books | Unit sales (B2C retail + direct) | Primary historical revenue driver - 8.5M books sold to date |
| Digital App | Subscription (freemium likely) | Pricing not disclosed in deck |
| Podcast | Ad-supported / sponsored | Branded content deals (Nike, Athleta, Google) |
| Licensing / Consumer Products | Royalty income | 30+ licenses targeted by 2025; current licensees include Build-A-Bear, Mad Engine, Fashion Angels |
| Brand Partnerships | Sponsorship / co-creation fees | Nike, Athleta G!RL, Alaska Airlines, Google cited |
| Events | Ticket sales + corporate / brand sponsorship | Rebel Girls Fest, corporate events |
| Entertainment (future) | Licensing fees / streaming deals / box office | Broadway, live action, docuseries - pipeline only |
No pricing, ASP, or revenue-by-segment breakdown provided in the deck.
Traction & metrics
Publishing
- 8.5M books sold (since 2016)
- 2,000+ stories of women
- 110+ countries
- 50 languages
- 63% of stories feature BIPOC women
- 57% of books are co-read (parent + child)
Digital / Audio
- 22M podcast downloads
- 12M music streams
- 1.8M Kahoot players
- 135K+ app downloads
- 67% co-listening rate of stories
- 3+ hours/week on app (average)
- App rating: 4.6 stars from 8,678 ratings
Community / audience
- 23M girls reached globally
- NPS score: 81
Content / platform accolades
- NY Times Bestseller; Oprah's Favorite Things; Apple Design Award 2022 (3x App of the Day); 5x Webby Award; 3x Podcast People's Choice Award
Competition / moat
Not explicitly stated as a competitive slide.
Moat signals from deck:
- Brand recognition and trust - "Parent-trusted, Girl-loved" positioning.
- Content library depth: 2,000+ stories, 50 languages, 110+ countries.
- Community scale: 23M girls, 81 NPS.
- Award-winning platform (Apple Design Award, Webby Awards, Podcast People's Choice).
- Network of 400+ illustrators, 60+ writers, 120+ audio narrators across 50+ countries.
- King Features / Hearst global licensing representation.
Competitive set: Not named in deck.
Team & funding ask / use of funds
Leadership team:
- Jes Wolfe - CEO
- Elena Favilli - Co-Founder
- Christina Miller - Board of Directors
- Michon Vanderpoel - Sales
- Sarah Parvis - Book Development
- Lauren Chan Lee - Product
- Rachel Toby - Finance & Operations
- Joy Smith - Audio Development
- Aashi Vel - Partnerships
- Amy Pfister - Comms & Community
- Bryan Haut - Marketing
- Team backgrounds: WarnerMedia, NBCU, Audible, Care.com, Morgan Stanley, BCG, World Bank, StubHub, Pandora, Vox, Abrams, Epic, BrainPop, Modcloth.
Content creation community:
- 400+ illustrators, 50+ countries
- 60+ writers, 15+ countries
- 120+ narrators, 15+ countries (includes Andra Day, Jameela Jamil, Diane Guerrero)
Recommended financial model
Archetype + why: Multi-revenue-stream children's media / consumer brand model. The business has at least five live revenue lines (books, app subscription, podcast/partnerships, licensing royalties, events) plus a pipeline of entertainment IP monetization. The right archetype is a branded media & consumer products 3-statement model with a GMV / unit-economics driver stack per channel - similar to how toy/media hybrid companies (Hasbro, Sanrio) are modelled. A pure SaaS or pure DTC model would undercount the business. Given the licensing and partnership components, a royalty / licensing revenue schedule feeds into the P&L alongside direct product revenue.
Forecast horizon & granularity:
- 5-year model (2023–2028), annual; Year 1 monthly if cash flow is a concern.
- 2025 targets (slide 14) serve as a built-in checkpoint: model should test whether the stated goals (50M girls, 85+ titles, 50M podcast downloads, 30+ licenses, 10+ halo brand partnerships) are financially consistent.
Key drivers & assumptions:
*Books*
- Annual new titles published: 8–12 titles/year (deck shows 85+ titles targeted by 2025 from an unspecified current base; ~63 existing titles implied - ASSUMED ~12 titles/year)
- Average selling price (ASP): $15–$18 retail; $10–$12 net to publisher (standard children's illustrated nonfiction)
- Units per title: 25,000–75,000 annually (wide range; 8.5M total since 2016 across ~7 years and ~63 titles = ~19K/title/year average, ASSUMED)
- Direct vs. wholesale channel mix: 70% wholesale / 30% direct
- Royalty / author cost: 10–15% of net revenue
*App / Digital Subscription*
- Current downloads: 135K+
- Paid conversion rate: 10–20% (typical freemium children's apps)
- Monthly subscription price: $4.99–$7.99/month (market rate for kids audio apps)
- Monthly active rate: 60% of subscribers active in any month
- Annual churn: 30–40% (children's apps see high churn as kids age out)
*Podcast / Branded Partnership Revenue*
- Podcast downloads: 22M total; new annual downloads 5–8M/year
- CPM rate: $25–$40 (premium children's / family podcast segment)
- Partnership deal count: 3–5 paid integrations/year at $100K–$500K/deal (Nike, Athleta, Google tier)
*Licensing / Consumer Products*
- License count: 12–20 current (30+ targeted by 2025)
- Average royalty rate: 8–12% of net licensee sales
- Average licensee net sales per license: $500K–$2M/year
- Timing: 6–12 month ramp per new license agreement
*Events*
- Annual events: 5–15 events (mix of Rebel Girls Fest flagship, corporate, retail activations)
- Average event revenue: $50K–$200K (ticket sales + sponsorship)
*Entertainment / Film / TV (future)*
- No revenue modelled before 2025; option value / upside scenario only
- Broadway and docuseries would generate one-time licensing/advance fees if deals close
*Costs*
- Content creation: 25–35% of revenue (illustrators, writers, narrators, recording)
- Platform / digital opex: 10–15% of revenue
- G&A and team: $5–8M/year fixed base, scaling with headcount
- Marketing / community: 15–20% of revenue
Scenarios (Base / Bull / Bear - which variables flex):
- Base: 10 new book titles/year, 5% app download growth/month, 4 brand partnerships/year, 20 licenses by 2025, 2 flagship events/year.
- Bull: Entertainment deals close (Broadway 2024, streaming deal 2025), app paid conversion reaches 20%, 30+ licenses by 2025 as targeted, international book expansion accelerates.
- Bear: App churn exceeds 45%, podcast CPMs compress, entertainment pipeline delayed to 2026+, licensing ramp takes 18 months instead of 12.
Required sheets / outputs:
- `Assumptions` - all drivers with / tags
- `Books` - units × ASP × channel mix → net revenue
- `App` - downloads, conversion, MRR, churn, net MRR
- `Podcast & Partnerships` - downloads, CPM revenue + deal income
- `Licensing` - license count ramp, royalty schedule
- `Events` - event count × average revenue
- `Entertainment` - placeholder / scenario toggle (0 in base)
- `P&L` - consolidated income statement (revenue by stream, COGS, gross profit, opex, EBITDA)
- `Cash Flow` - working capital, content production capex, operating cash flow
- `Balance Sheet` - simplified (given early-stage nature)
- `KPI Dashboard` - girls reached, total titles, app MAU, podcast downloads, license count vs. 2025 targets
- `Scenarios` - base / bull / bear toggle
Frequently asked
Is the Rebel Girls financial model free?+
Yes. The Rebel Girls 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 Rebel Girls'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
Created by ex-finance professionals
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