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Business of Sport with Harry and Charlie Stebbings
Moritz Fürste, HYROX Co-Founder: From Olympic Gold to Creating a Global Fitness Phenomenon | Ep.53
We bring you the man who founded the global phenomenon HYROX. Mo is a double Olympic Gold Medallist in hockey, having won with Germany in Beijing and London. Described to me by someone who knows far more about the sport as ‘The Cristiano Ronaldo’ of field hockey, we were pretty excited to get both a sporting icon and high flying entrepreneur in the studio; always what we strive for on the Business of Sport!
Since it was founded in 2017, HYROX has become a major player in sporting participation. Consisting of both running and 8 separate ‘fitness’ activities to form a unique race format, millions of people have participated in their events around the world. The success has been so impressive that they have now had to implement a ballot in some cities (including London where they had over 70,000 applications) to manage demand.
But this isn’t just a series of fitness events; this is a sport, the driving values of which lie in community and engagement. I can’t deny, when we got into it, the business was pretty insane too. This has been the most requested show over the last 3 months. It was a lot of fun entering a completely new area for the show. This is one incredible sports asset that is only going to get bigger.
---------------------------------------------------------------------------------
Timestamps:
(00:00) Intro
(04:00) Balancing Seizing Opportunities vs. Staying Focused
(05:35) Starting HYROX
(12:08) What is HYROX Event?
(13:55) How HYROX Becomes a Continuous Revenue Machine?
(14:43) On Pricing
(18:40) Ticketing
(20:31) Production Costs
(23:25) Margin Structure
(24:21) Covid Times
(26:06) The First HYROX Event: Building and Sustaining Community
(28:04) Driving the Growth
(28:42) Content Making
(31:32) About LTV for a HYROX Athlete
(32:55) HYROX's Ideal Customer Profile Target Everyone or Athletes?
(36:46) Gym Partnerships
(40:52) Brand Partnerships
(43:57) Merch
(46:22) OMG Moment
(47:52) Does Hyrox Have Competition?
(49:46) Looking Into Future Opportunities
(53:24) Which Athlete Would Moritz Love in a HYROX Event?
(56:56) What's Next for HYROX's Growth?
(59:17) Quick-Fire Round
---------------------------------------------------------------------------------
On today’s show we discuss:
1. What is HYROX?:
- “52% of people call fitness their sport, but what is the sport”? What was the opportunity moment that led to Mo and Christian embarking on their HYROX journey?
- A breakdown of what an event actually consists of; from running to sled pushes to rowing.
- How they have taken HYROX from a 650 person event in Hamburg in 2017 to 650,000 signed up global participants this year across 85 events.
- Can anyone participate in HYROX? Who is the target audience?
- How did Mo’s experience as an athlete prepare him for life as an entrepreneur?
2. Creating Community:
- “You cannot reduce this down to the business model”: how Moritz created one of the most engaged fitness communities in the world.
- Why does he think this has resonated with so many people and what do they attribute the success of HYROX to so far?
- What does it mean to build community? Lots of people talk about it but very few are able to achieve and then maintain it.
- Why is it so important to build out both the professional end and the mass participation front?
3. The Business of HYROX:
- From a near $100m in sign-ups this year to selling media packages to the majority of participants, how do you build on the HYROX hype without exploiting the loyalty of the people who helped build it?
- The importance of relationships with global brands like PUMA and Red Bull; the commercial model that powers the brands.
- How an affiliate model with gyms will power the development of the sport and allow people to train specifically for events.
- Which events have HYROX licensed and which ones do they keep in-house; the logistics of operating a global series.
---------------------------------------------------------------------------------
Subscribe on Spotify:
[open.spotify.com/show/1lD0eIjmkyr92VggxZmDuF?si=c0a7e9846a83476](open.spotify.com/show/1lD0eIjmkyr92VggxZmDuF?si=c0a7e9846a834767)7
Subscribe on Apple Podcasts:
podcasts.apple.com/gb/podcast/business-of-sport/id1690597762
Follow Harry Stebbings on Twitter:
HarryStebbings
Follow Charlie Stebbings on Twitter:
CharlieStebbs
Follow Moritz Fürste on Twitter:
MoritzFuerste
Follow Business of Sport on Instagram:
bizofsport
Follow Business of Sport on TikTok:
www.tiktok.com/@bizofsport
----------------------------------------------------
#businessofsport #charliestebbings #harrystebbings #moritzfurste #hyrox #founder #fitness #athlete #budget
Since it was founded in 2017, HYROX has become a major player in sporting participation. Consisting of both running and 8 separate ‘fitness’ activities to form a unique race format, millions of people have participated in their events around the world. The success has been so impressive that they have now had to implement a ballot in some cities (including London where they had over 70,000 applications) to manage demand.
But this isn’t just a series of fitness events; this is a sport, the driving values of which lie in community and engagement. I can’t deny, when we got into it, the business was pretty insane too. This has been the most requested show over the last 3 months. It was a lot of fun entering a completely new area for the show. This is one incredible sports asset that is only going to get bigger.
---------------------------------------------------------------------------------
Timestamps:
(00:00) Intro
(04:00) Balancing Seizing Opportunities vs. Staying Focused
(05:35) Starting HYROX
(12:08) What is HYROX Event?
(13:55) How HYROX Becomes a Continuous Revenue Machine?
(14:43) On Pricing
(18:40) Ticketing
(20:31) Production Costs
(23:25) Margin Structure
(24:21) Covid Times
(26:06) The First HYROX Event: Building and Sustaining Community
(28:04) Driving the Growth
(28:42) Content Making
(31:32) About LTV for a HYROX Athlete
(32:55) HYROX's Ideal Customer Profile Target Everyone or Athletes?
(36:46) Gym Partnerships
(40:52) Brand Partnerships
(43:57) Merch
(46:22) OMG Moment
(47:52) Does Hyrox Have Competition?
(49:46) Looking Into Future Opportunities
(53:24) Which Athlete Would Moritz Love in a HYROX Event?
(56:56) What's Next for HYROX's Growth?
(59:17) Quick-Fire Round
---------------------------------------------------------------------------------
On today’s show we discuss:
1. What is HYROX?:
- “52% of people call fitness their sport, but what is the sport”? What was the opportunity moment that led to Mo and Christian embarking on their HYROX journey?
- A breakdown of what an event actually consists of; from running to sled pushes to rowing.
- How they have taken HYROX from a 650 person event in Hamburg in 2017 to 650,000 signed up global participants this year across 85 events.
- Can anyone participate in HYROX? Who is the target audience?
- How did Mo’s experience as an athlete prepare him for life as an entrepreneur?
2. Creating Community:
- “You cannot reduce this down to the business model”: how Moritz created one of the most engaged fitness communities in the world.
- Why does he think this has resonated with so many people and what do they attribute the success of HYROX to so far?
- What does it mean to build community? Lots of people talk about it but very few are able to achieve and then maintain it.
- Why is it so important to build out both the professional end and the mass participation front?
3. The Business of HYROX:
- From a near $100m in sign-ups this year to selling media packages to the majority of participants, how do you build on the HYROX hype without exploiting the loyalty of the people who helped build it?
- The importance of relationships with global brands like PUMA and Red Bull; the commercial model that powers the brands.
- How an affiliate model with gyms will power the development of the sport and allow people to train specifically for events.
- Which events have HYROX licensed and which ones do they keep in-house; the logistics of operating a global series.
---------------------------------------------------------------------------------
Subscribe on Spotify:
[open.spotify.com/show/1lD0eIjmkyr92VggxZmDuF?si=c0a7e9846a83476](open.spotify.com/show/1lD0eIjmkyr92VggxZmDuF?si=c0a7e9846a834767)7
Subscribe on Apple Podcasts:
podcasts.apple.com/gb/podcast/business-of-sport/id1690597762
Follow Harry Stebbings on Twitter:
HarryStebbings
Follow Charlie Stebbings on Twitter:
CharlieStebbs
Follow Moritz Fürste on Twitter:
MoritzFuerste
Follow Business of Sport on Instagram:
bizofsport
Follow Business of Sport on TikTok:
www.tiktok.com/@bizofsport
----------------------------------------------------
#businessofsport #charliestebbings #harrystebbings #moritzfurste #hyrox #founder #fitness #athlete #budget
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Nico Rosberg will be the Greatest of all time.
What was the insigh: Real answer: well i went to a crossfit box and saw that most them looked that >80% of them were like upside down turtles doing technical and heavy stuff, so i remove the technical and circus shit from the crossfit and make it real accessible to everyone. Be more predictable for the programs to improve are good and not the random stuff from crossfit and it will work. PS: and no shitty judges
Can all be solved by bringing back a cap on wages no player in the premier League to get more than £5000 a week including bonuses and just work it down from that the knock on effect is cheaper tickets more people can go to the games it's cheaper for people to buy and watch the matches at home everybody wins
This dude should have never left, such a great keeper. Dude was millions ahead of Sanchez
incredible story, I think I want to now work at hyrox haha
He’s better than any keeper Chelsea have now!
Just adding on to all these comments, what he said about Southampton is littered with inaccuracies too. Tadic was never our captain nor was he performing that well for us, Southampton was 17th and not at the bottom of the league when he took over, and hassenhuttl did not win 2 games in 24 lmfao. And is he really boasting about having 2 wins in 10 games for Southampton? Really? He managed 5 wins in 27 games for us and he was complaining about getting sacked? Absolute bellend
The State of New York and Erie county governments gave a billionaire $850 billion for a stadium for the Buffalo Bills. Is that the type of support you find in Europe ? This guy is brilliant
The EFL is unsustainable, clubs are struggling to keep up with rising cost of players and fans are struggling to afford ticket prices.
The kangaroo song lol.🏴
Please launch in Cape Town
35 million wouldn't get you messi's dog.
Very incredible player
Really interesting to see the sub communities/ businesses that grow off this sport.
Love this conversation!
Bollocks you didn't know
This guy was a really solid gk before Italy gk robbed his award.I still remember he starts to make mistakes very often after this ceremony.Our Chelsea fans still miss your short prime time Mendy.Good luck brother.
Cry me a river,Bournemouth, villa and forest came up and r doing well
It depends if you want English clubs to challenge on the world stage
Instead of begging, make the rest of the EFL more appealing instead
Been a disaster
You made a good decision though
There's a reason so many of the teams that had shirts made by Castore ended their deals years early
Mature and very professional. What a guy. Very well respected. He's only been in 3 years, but his performance and impact is enormous. Hope he is happy wherever he plays
He left because his form fell off a cliff. Only to get a crappier Robert Sanchez.
I believe this. £35m 2008 money is £140 million in todays
Money has destroyed footy, it’s a shame
Cov fan here, wolves have had an unbelievable side in recent years, Rui Patricio Moutinho Neves Raul Dendonker Jota Neto Daniel Podence Trincao Gibbs White Vitinha Guedes I mean that front 3 right now Guedes Jota neto Would absolutely destroy teams.
Never understand why people would rather watch soccer than rugby. I think it’s just hype and traditional loyalties. No sense to me but I am not a Brit.
Ruined football you absolute idiots
Bring about change? It was all about money from the start. And you goons did it. So own it.
Good of them to include a bit about Quins in this podcast about Wolves.
Worth remembering, every one of the big 6 voted in favour of this but it was the greed 14 who refused to help the pyramid
Whole point of setting up the Premier Legate was not to have to pay the EFL!!
But this exactly what everyone said would happen at the time.
Because the prem is ran by greedy money grabbing bellends who don’t even like the sport
This is hilarious!!
I have never understood this. The premier league are a commercial entity as are the EFL why are would the Premier League give them £300 million. Coca Cola arent writing cheques to Pepsi.
Did you even listen to it? There’s a PYRAMID 😂! the top tricklesdown to keep the whole of English football healthy and sustain a future 👍
Your comparison makes no sense at all. Pepsi products don’t get sent to Coca Cola if they start selling well. They are completely different entities and competitors in the beverage industry. The championship and premier league, although different business with completely different structures, are part of the same football pyramid, and are forever entwined by the football clubs that serve within the pyramid. The top of the pyramid needs the rest of the pyramid to thrive in order to get the best product at the top. But the Premier League are too short sighted to see that the gap between the top and the rest is getting way too big
@devineboro98 look how many players get bought from small clubs for reasonable fee compared to foreign players. The efl ask to much
Introduce a salary cap , take all the players remove them from their current team and have a fantasy draft. Oh and best of all, remove all other leagues around the world and make everybody play in England. Now you have league 2 teams with great players and everything will be equal.
Very mature perspective - both Edou and the club - and frankly it was the right call he is better off in Saudi, building up longevity after injuries. No point getting battered for the premier league to not play; he already delivered so much in a short time
Pure greed, plain and simple.
Surely it’s on the lower leagues to market and sell their product more. ? If you make more money than me can you just send me a few quid because you are doing it better than me and it’s not fair.
@ I just mean with top level football in general Player Wages & the costs for fans are ridiculous
Agreed
He was the man behind the premier League beam him and he was the man behind big project
The english league forgets they could of been part of the financial stucture from day one, but the english leage snd FA though they could do better going on their own with the then new ITV digital, screened and BSB snd NTL cable, instead of gong with the premier League and the band new sky tv. Well itv digital didnt take off in the direction the English leagues hopped ,and sky ended up buying BSB a few years later, and itv digital sport died soon after. so sky ended up with the rights to both ventures. But the two leagues (prem and english) was never brought back together, as the FA didnt want to iirc.,so they lost on what they are crying about today. If they would of taken the deal in the early 90s, the lower devisions would of been floting iff premier league money, and we would probably have two whole devisions worth of clubs that could compete in Spain, Germany and france top divisions. As the drop down to the championship wouldn't be the financial hit it is today. Eitherway, they screwed themselves 32 years ago, when they thought they coudl make more money alone.
Please sir can we have some more
Yes.. absolutely agree. Cut down on the wages, buying prices and the ticket cost will drop too.. that will give more fans the ability to buy tickets again. So it will generate more revenue on the long run
Don’t whine if you can’t afford the modern price of modern soccer.
so less revenue will lead to more revenue? you have no clue mate😂😂😂
"Fans" no longer matter in the PL. Day tripping "customers" are better for revenue
@harry-r6r You have to spend money to earn money. Grow up young one
@@mortenfrosthansen84 you are saying to charge less to spend less. that’s not how it works in the modern football world. other clubs will want the maximum fee possible for their players. clubs will not just agree to all spend less on players to lower ticket prices
There are external pressure to contend with. The premier league needs to pay top players more money to stop them moving abroad. Any player who starts for a prem league team could get a move to a euppean Top flight side so it’s no wonder wages r going up
Shut up ya melt half the prem are dross
Warning: Following comment is a controversial comment. Do not start a war in replies. Dont read if you are very sensitive. READ AT YOUR OWN RISK Women, of recent times just are not good enough. They might still be great but they will never be as good as the f1 drivers today. You know why? Because women will never be stronger than men. Its a biological fact that women cannot be stronger than top level men.
The super league fixes it.
😂
Williams has been on a decline since the early 2000s I think. Because of some poor management choices like letting go of Adrian Newey, there were some consequences. They then became midfielders challenging for podiums in the 2010s and are now back markers trying to exist.
Lesson for all those clowns from the sub continent. This is how interviews should be conducted. Ask the questions and take a back seat. Not suck off the interviewee or the interviewer jerk off in front of the interviewee like they do in India.
What they should do is bring in a rule prem clubs need to have a quota of football league players in their squad
Why? The football league decided it didn't want the premierleage SKY TVs money in 1992, when they signed deals with itv digital and BSB. Bsb got bought up by sky tv, and itv digital sport died not long after. (sky was different to bsb back then, I think BSB was larger for a short time, BSB had diamond shape dishes) Bsb was a solely subscription TV service where sky TV, had the fee to air. Channels plus it's 4 or 5 sky TV subscription channels. Them days sky had a total of about 8 or 9 channels. It soon jumped to about 500 channels of crap.