Menu
People and Pop Culture

Zach Leonsis takes on new, expanded role at Monumental

By David Rumsey
Leonsis' new position will focus in part on growth areas like esports, sports betting and blockchain technologyTONY FLOREZ

ZACH LEONSIS is taking on an expanded role at Monumental Sports & Entertainment, receiving a promotion to the newly created position of President of Media & New Enterprises. Leonsis, who will report to his father, Monumental Chair & CEO TED LEONSIS, was most recently Senior VP/Strategic Initiatives for Monumental, and GRANT HASTINGS was recently promoted to Senior VP/Monumental Enterprises to help fill the void left by Leonsis’ move. “We're placing a larger emphasis on categories of interest where we think the sports and entertainment industry is going,” Leonsis said, explaining how his new position will focus on growing revenue for Monumental via mergers and acquisitions and growing spaces like esports, sports betting and blockchain technology. One big goal is eclipsing $1B in annual revenue in the near future. “We are really transitioning from playing defense during the pandemic back to playing offense,” Leonsis said.

DIGITAL PUSH: Navigating Monumental’s businesses in those emerging categories will be a large focus for Leonsis, who hinted that this new role was something he was moving toward even before the pandemic. “Now that we're through the pandemic, a lot of these trends have been accelerated and punctuated by the new world we're living in,” he said. “And it just magnified, the importance of our desire to do even more in the digital space.” Leonsis added, “Doubling down on our ability to be a direct-to-consumer business is going to be equally as important as we move forward.” Leonsis was a member of SBJ's Forty Under 40 class of '19.

MORE MOVES: Leonsis’ promotion comes on the same day that Monumental announced moves within its basketball department, promoting Monumental Basketball Chief Planning & Operations Officer SASHI BROWN to President of Monumental Basketball and Special Advisor to the Office of the CEO at Monumental; while Wizards GM TOMMY SHEPPARD adds the role of President to his title.

SBJ Spotlight: TikTok’s threat to traditional sports media

While tech companies are consumed with finding ways to compete with TikTok, almost no one in conventional media “spends any time talking about it,” said Recode senior correspondent Peter Kafka in an Spotlight interview with SBJ’s John Ourand. “To me, that’s just an obvious disconnect.” Kafka authored a recent column headlined, “It’s TikTok’s world. Can TV live in it?” He said the main response to TikTok’s growth from traditional media execs has been to “punt and hope it’s someone else’s problem a quarter from now or two years from now.” But Kafka said that ignores the trend of conventional broadcast audiences growing older while a billion younger consumers spend most of their media time watching short video after short video. “If you’re in the business of getting anyone under the age of 30 to look at what you’re putting on a screen, you have to think about the fact that you’re probably asking them to put down TikTok and watch your thing instead,” said Kafka. “That’s a very difficult ask. … [TikTok] is insanely addictive.”

SBJ Morning Buzzcast: June 29, 2022

BioSteel makes a major move with the NHL, while the USFL looks for additional investors.

SBJ Unpacks: Thaddeus Young, NBA forward and venture capitalist

SBJ's Austin Karp posted up with NBA power forward Thaddeus Young. The 15-year veteran discussed his venture capital strategy, his investment in technology and much more.

Shareable URL copied to clipboard!

https://sbjcd02.centralus.cloudapp.azure.com/Daily/Issues/2021/11/17/People-and-Pop-Culture/Zach-Leonsis.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://sbjcd02.centralus.cloudapp.azure.com/Daily/Issues/2021/11/17/People-and-Pop-Culture/Zach-Leonsis.aspx

CLOSE
;