KKR Injects Capital into PlayOn! Sports, Doubling Down on High School Sports Streaming Market

High school sports streaming has attracted major institutional capital. KKR, the global investment powerhouse, has sealed a definitive agreement to funnel significant funding into PlayOn! Sports, joining forces with existing stakeholder Panoramic Ventures. While exact figures remain confidential, the move signals KKR’s confidence in the booming market for digital sports content aimed at younger audiences and their families.

The Business Behind the Investment

PlayOn! Sports operates NFHS Network, a dominant streaming platform delivering live and on-demand coverage of high school athletic events. The platform boasts an impressive reach: it covers more than 27 different sports and activities across all 50 states plus Washington, DC. The company maintains direct partnerships with nearly 8,000 high schools nationwide, positioning itself as the go-to source for fans seeking to catch games anywhere, anytime.

Founded in 2008, PlayOn! Sports has become synonymous with accessible high school sports content. The NFHS Network functions as a joint venture between PlayOn and the National Federation of State High School Associations (NFHS), creating a symbiotic ecosystem. Beyond entertainment value, the platform generates additional revenue streams for participating high schools and state associations—a critical feature that has helped secure institutional adoption across the country.

What KKR Sees in This Deal

Ted Oberwager, Partner at KKR, highlighted the firm’s strategic rationale: the investment targets a rapidly growing, highly passionate audience with proven demand for premium sports content. KKR brings deep expertise in scaling consumer technology and digital media businesses—precisely the capabilities PlayOn! Sports needs to expand its footprint.

PlayOn! Sports founder and CEO David Rudolph emphasized the synergy, noting that KKR’s experience combined with Panoramic Ventures’ continued support will unlock new opportunities to extend high school sports accessibility to untapped markets and communities. The company remains committed to its core mission: eventually streaming every high school event in the country.

Strategic Positioning

The investment underscores a broader trend: institutional investors are recognizing the value in niche media platforms with passionate, engaged user bases. PlayOn! Sports’ existing infrastructure—its relationships with the NFHS, state associations, and thousands of schools—creates defensible competitive advantages that KKR can leverage to accelerate product development and market expansion.

Panoramic Ventures Managing Partner Mark Buffington noted that PlayOn! Sports is “just scratching the surface” of potential growth opportunities. The fresh capital from KKR enables the company to build additional products and extend more value across the entire NFHS ecosystem, suggesting potential expansion beyond current offerings.

The transaction, facilitated through KKR’s North American private equity strategy, is anticipated to close in the first quarter of 2022, pending standard closing conditions.