Fanatics

What Fanatics does

Fanatics Holdings, Inc. is a privately held global digital sports platform founded in 2011 by Michael Rubin (currently Chair and CEO), headquartered in Jacksonville and New York with 22,000+ employees across 80+ global offices and a footprint spanning 180+ countries. The company operates nine integrated consumer-facing verticals anchored by Fanatics Commerce (officially licensed fan gear, jerseys, lifestyle apparel, headwear, and hardgoods sold through owned e-commerce plus 2,000+ retail locations including all Lids stores); Fanatics Collectibles (physical and digital trading cards and memorabilia under the Topps and Bowman brands, plus the Fanatics Collect marketplace, live-breaking, and now PWCC Marketplace auctions); Fanatics Betting & Gaming (Fanatics Sportsbook mobile app in 23 states + DC, Fanatics Casino in four states, and 25+ retail sportsbook locations including Boyd Gaming Ameristar properties); Fanatics Markets (a Crypto.com-powered prediction market platform launched December 2025 across 24+ states); Fanatics Events (Fanatics Fest and the Fanatics Flag Football Classic); Fanatics Studios (an OBB Media joint venture producing sports entertainment content); Fanatics Advertising (a sports media platform powered by FanGraph); and the upcoming Fanatics American Express credit card.

Underlying technology includes a vertically integrated v-Commerce platform that combines on-demand design, manufacturing, and omnichannel distribution (with 149 tier-1 contract facilities plus owned U.S. manufacturing), the FanGraph first-party data layer built on Google Cloud and Snowflake that processes roughly 2 billion daily fan signals across commerce, collectibles, betting, and live events, AI-driven real-time fan personalization, and the Fanatics Live live-selling platform. Fanatics ONE is the cross-vertical loyalty program with 30M+ users and the FanCash rewards currency (1:1 USD), which in 2027 will integrate with American Express Membership Rewards as AmEx's only non-airline/hotel transfer partner. The company makes money through licensed merchandise sales and revenue-share with content holders, trading card production and secondary-market transaction fees, sportsbook and casino wagering transaction revenue, prediction market transaction fees, advertising sales to brands, and (forthcoming) credit card economics; it holds exclusive long-term licensing rights with 900+ sports properties and direct relationships with 6,000+ athletes and celebrities.

Name

Fanatics

Legal name

Fanatics Holdings, Inc.

Website

https://fanaticsinc.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Fanatics is a privately held global digital sports platform spanning licensed merchandise, trading cards (Topps), sports betting, prediction markets, live events, advertising, and a co-branded American Express credit card. The Fanatics ONE loyalty program unifies the ecosystem for 100M+ fans and 900+ league partners.

Ownership category

akta.pro rank

Product category

Licensed Sports Merchandise & Collectibles

NAICS

Spectator Sports (71121), Gambling Industries (7132)

akta.pro primary industry

Fan Communities & Subscription Content Platforms (Membership/Patronage) (BPAMAJAO)

akta.pro secondary industries

Fan Membership, Subscriptions & Patronage Platforms (MPACABAF), Esports Tournament Ticketing & Fan Experience (MPAGANAL), Subscription Fan Membership Platforms (Paid Communities) (MPACAFAA)

Keywords

• Licensed sports merchandise
• Trading cards and collectibles
• Sports betting platform
• Prediction markets
• Sports fan engagement platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fanatics Commerce (Licensed Sports Merchandise): Designs, manufactures, and retails licensed fan gear, jerseys, lifestyle/streetwear, headwear, and hardgoods through direct e-commerce and 2,000+ retail locations including all Lids stores. Operates on a revenue-share basis with content holders.
2. Fanatics Collectibles (Trading Cards & Memorabilia): Production and sale of physical and digital trading cards, sports memorabilia, and collectibles under exclusive licenses (Topps, Bowman, etc.). Includes Fanatics Collect marketplace, live-breaking, and auctions.
3. Fanatics Betting & Gaming (Sportsbook & iGaming): Real-money online and retail sports betting (Fanatics Sportsbook) and online casino (Fanatics Casino) wagering. Sportsbook operates in 23 states + DC, casino in four states. Generates transaction-based revenue from wagers.
4. Fanatics Markets (Prediction Markets): Prediction markets platform launched December 2025 in partnership with Crypto.com, enabling fans to trade on sports, finance, and cultural events. Operates across 23+ U.S. states leveraging Paragon Global Markets infrastructure.
5. Fanatics Advertising: Next-generation sports media platform connecting brands with 100M+ fans across sports content, commerce, and culture, offering onsite and offsite media solutions powered by FanGraph data layer.
6. Fanatics Credit Card (American Express co-brand): Co-branded Fanatics American Express credit card (launching later 2026) issued by First Electronic Bank and serviced by Imprint, earning FanCash rewards redeemable across the Fanatics ecosystem. In 2027, Fanatics becomes AmEx's only non-airline/hotel Membership Rewards transfer partner.
7. Fanatics Events (Fanatics Fest & live events): Live sports and collector fan events business, anchored by the annual Fanatics Fest (125,000+ attendees in 2025), with 10-year OBB Media partnership and ticketing, sponsorships, and on-site commerce revenue.
8. Fanatics Studios (Content Production): Joint venture with OBB Media producing premium sports entertainment content — feature films, documentaries, unscripted/scripted originals, live event specials, and digital series — with partners including LA28, Fox, ESPN, MLB, WWE.
9. Fanatics ONE Loyalty Program (FanCash): First-of-its-kind loyalty program with 30M+ users that connects the entire Fanatics ecosystem. FanCash (1:1 USD value) is the proprietary rewards currency used across commerce, betting, and collectibles.

Pricing tiers

Go-to-market motion4 records

Distribution channels12 records

Marketing channels11 records

Core offering

Fanatics is a vertically integrated global digital sports platform that designs, manufactures, and retails officially licensed fan gear, jerseys, headwear, and trading cards while also operating online sports betting (Fanatics Sportsbook), online casino (Fanatics Casino), prediction markets (Fanatics Markets), live events (Fanatics Fest), sports entertainment content (Fanatics Studios), and an advertising network — all unified through a Fanatics ONE loyalty program and FanCash rewards currency.

Product overview

Fanatics operates as a platform-plus-modules ecosystem of nine integrated consumer businesses (Fanatics Commerce, Fanatics Collectibles, Fanatics Betting & Gaming, Fanatics Events, Fanatics Studios, Fanatics Markets, Fanatics Advertising, Fanatics Credit Card, and the Fanatics ONE loyalty layer) anchored by acquired sub-brands Topps, Lids, and Mitchell & Ness. Fanatics Commerce is the foundational commerce and licensing engine; Fanatics ONE and the Fanatics Credit Card tie the verticals together through a unified FanCash rewards currency, while Fanatics Collectibles, Betting & Gaming, Events, Studios, Markets, and Advertising each represent distinct consumer-facing modules layered on top of the same first-party fan data and licensed-IP infrastructure (FanGraph on Snowflake/Google Cloud). The architecture allows each business to operate independently while sharing identity, payments (American Express, Klarna, Crypto.com), and personalization across the portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Fanatics Commerce: Leading designer, manufacturer, and retailer of licensed consumer products including fan gear, jerseys, lifestyle and streetwear products, headwear, and hardgoods.
• Fanatics Collectibles
• Fanatics Betting & Gaming
• Fanatics Events
• Fanatics Markets
• Fanatics Advertising
• Fanatics Studios
• Fanatics ONE
• Topps
• Mitchell & Ness
• Lids

Products and services

• Fanatics Sportsbook

Quantifiable outcome

• 8,000 orders per minute at peak during the 2026 New York Knicks NBA Championship, breaking all prior Fanatics championship sales records
• +8 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability9 records

Feature6 records

Partnerships

22 partnerships are on record, tiered core, flagship and minor.

• CognitivcoreTechnology or Integration · 18 June 2026Full-funnel connected TV (CTV) solution combining deep learning-powered audience intelligence with premium streaming inventory to identify high-value sports fans. Delivered a 19% lift in customer lifetime value and 18% lift in brand awareness for Fanatics Sportsbook during March Madness, and 11% / 12% lifts respectively for Fanatics Casino.
• Saudi Arabian Football Federation (SAFF)coreOEM/ Whitelabel/ Licensing Partner · 9 June 2026Exclusive tie-up kicking off in 2028 across trading cards, trading card games, stickers, and accessories licensing, with the deal covering the flagship men's FIFA World Cup in 2034 in Saudi Arabia. Topps will produce products for the men's, women's, and youth national Saudi soccer teams under collective player rights.
• SnowflakecoreTechnology or Integration · 2 June 2026Fanatics is an early user of Snowflake CoCo AI coding agent and Snowflake Datastream managed streaming service for Apache Kafka, leveraging Snowflake for AI-powered fan personalization and real-time data infrastructure. Announced alongside Thomson Reuters and WHOOP at Snowflake Summit 2026.
• PWCC MarketplacecoreStrategic or Co-development Partner · 22 May 2026Acquired PWCC Marketplace, one of the world's largest sports card, memorabilia, and collectible auction houses. PWCC is particularly known for its PWCC Vault storage facility in Oregon that houses rare and valuable collectibles. Deal value was not disclosed.
• Google CloudcoreTechnology or Integration · 21 May 2026Partnered with Google Cloud for product discovery; Google Cloud infrastructure supports FanGraph, the unified first-party data layer powering AI-powered personalization and the Fanatics advertising network.
• The Football Association (The FA, England)flagshipOEM/ Whitelabel/ Licensing Partner · 21 May 2026Exclusive trading-card, sticker, and trading card games licensing deal with Topps producing products for England men's and women's national teams starting in 2031. Includes collective player rights (names, imagery, autograph and match-worn memorabilia cards). Expands on Fanatics' existing role as The FA's official retail and e-commerce partner since 2018.
• American ExpressflagshipStrategic or Co-development Partner · 20 May 2026American Express named Official Payments Partner across select Fanatics retail and online locations globally and presenting sponsor of Fanatics Fest. Co-branded Fanatics American Express credit card launching later in 2026, issued by First Electronic Bank and serviced by Imprint, with FanCash rewards. In 2027, Fanatics will become the only non-airline/hotel partner in AmEx's Membership Rewards transfer program, with AmEx Members able to convert points to FanCash. Cardholders get elevated tier status in Fanatics ONE.
• FIFAflagshipStrategic or Co-development Partner · 8 May 2026Long-term, exclusive collectibles licensing deal covering trading cards, stickers, and trading card games, set to begin in full in 2031 and cover both physical and digital collectibles produced under the Topps brand. Ends FIFA's decades-long partnership with Panini that began in 1970. Includes player jersey patch program (debut patches) being introduced to international football trading cards for the first time, and Fanatics' commitment to distribute over $150 million in collectibles free of charge to youth football programs globally. First collectible items debut at the 2026 World Cup via the debut patch program.
• National Football League (NFL)flagshipOEM/ Whitelabel/ Licensing Partner · 23 April 2026Exclusive multi-year partnership making Fanatics the NFL's official on-site retail partner at marquee events including the Super Bowl, NFL Draft, NFL Kickoff, and NFL International Games. Fanatics will operate 10+ retail locations at the 2026 NFL Draft in Pittsburgh, including a 13,000-sq-ft flagship tent, and for the first time produce jerseys for first-round picks on-site within moments of their selection. Significantly expands Fanatics' existing role as the NFL's official e-commerce partner.
• Complex MediacoreGTM or Marketing Partner · 2 April 2026Multi-year sports-betting and prediction market content partnership launching "Complex Bets" content vertical with Fanatics.
• OBB MediaflagshipStrategic or Co-development Partner · 13 January 2026Joint venture launching Fanatics Studios, the premier global studio for sports entertainment content, led by OBB Media founder/CEO Michael D. Ratner. Backed by a 10-year deal for Fanatics Fest. Launch partners include LA28, Fox, ESPN, MLB, and WWE. Plans to produce feature films, documentaries, unscripted/scripted originals, live event specials, and premium digital series.
• Crypto.comcoreTechnology or Integration · 3 December 2025Crypto.com powers the federally regulated infrastructure behind Fanatics Markets prediction market platform, integrated with Fanatics ONE / FanCash loyalty rewards. Customers can earn up to 10% FanCash back on trades during the 2026 FIFA World Cup. Leverages Paragon Global Markets (acquired earlier in 2025) to provide derivatives trading across 24 states.
• Boyd GamingcoreChannel Partner/ Reseller/ Distributor · 1 December 2025Operates two Fanatics retail sportsbooks at Boyd Gaming's Ameristar properties in Missouri (Ameristar Casino Hotel Kansas City and Ameristar Casino Resort Spa St. Charles), opened December 1, 2025.
• GC Packaging (GCP)minorStrategic or Co-development Partner · 10 August 2023Invested in GC Packaging, a Texas-based trading card manufacturer, to improve manufacturing capacity and quality. Subject of a legal dispute with Panini (GCP's largest client) alleging Fanatics exercises control to undermine competitors.
• EPI (Italian sports merchandise company)coreStrategic or Co-development Partner · 5 April 2023Acquired EPI, a Milan-based sports merchandise company managing official stores for top Serie A clubs (Juventus, AC Milan, Inter Milan) and The Pitch Football Store, from the Industry 4.0 Fund and Quadrivio Group. Rebranded as Fanatics Italy, retaining ~150 employees under CEO Lorenzo Forte.
• ToppsflagshipStrategic or Co-development Partner · 4 January 2022Fanatics acquired Topps' trading card and collectibles business for approximately $500M in January 2022, after Topps lost its 70-year MLB license to a Fanatics-led venture. Under Fanatics ownership, Topps trading card revenue grew from ~$368M (2020) to ~$1.6B (2024). Topps now powers Fanatics' exclusive trading card rights for MLB, NBA, and (starting April 2026) the NFL.
• Make-A-WishminorGTM or Marketing PartnerLong-standing partnership to grant sports-themed wishes for children with critical illnesses; documented at least 1,000 wishes granted through the partnership.
• Paris Saint-Germain (PSG)flagshipOEM/ Whitelabel/ Licensing Partner10-year strategic merchandising partnership signed June 2020. Fanatics operates the official PSG online store. Set international daily sales record (60% above prior) within 12 hours of 2026 Champions League victory.
• Fair Labor Association (FLA)coreOthersFanatics Brands is an accredited FLA participating company (since June 2021), aligning with FLA Workplace Code of Conduct and Principles of Fair Labor and Responsible Sourcing across tier-1 supplier monitoring.
• Paragon Global MarketscoreTechnology or IntegrationAcquired earlier in 2025 and integrated with Fanatics Markets to provide derivatives trading infrastructure across 24 U.S. states.
• RoktcoreTechnology or IntegrationSelected by Fanatics for checkout offer optimization to help convert 2 billion+ daily fan signals into sales.
• Google CloudcoreTechnology or IntegrationGoogle Cloud infrastructure supports FanGraph, Fanatics' first-party data layer, powering AI-powered fan personalization and the Fanatics advertising network.

Scale indicators20 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• DraftKings: U.S. online sportsbook and iGaming operator that is the primary direct competitor to Fanatics Betting & Gaming across Fanatics Sportsbook's 23 states + DC. Both target the same regulated wagering consumer with a mobile-first app, and both compete for share against Flutter's FanDuel.
• Flutter Entertainment (FanDuel): Flutter-owned FanDuel is the U.S. online sports betting market leader, directly competing with Fanatics Sportsbook on odds, promos, and live-event integrations, while Flutter's broader portfolio (PokerStars, Sisal) overlaps with Fanatics' casino and prediction-market ambitions.
• Panini Group: Direct trading-card and collectibles competitor to Fanatics Collectibles / Topps across soccer, NFL, NBA, and MLB cards and stickers. Panini is also Fanatics' principal antitrust litigant, making it both a peer and the most consequential competitive threat to the Topps business.
• Penn Entertainment: Regional casino operator and ESPN BET sportsbook partner that directly competes with Fanatics Betting & Gaming across both retail sportsbook locations and online wagering in overlapping U.S. states, while also competing for the same casino operator distribution partnerships.

Broad incumbents

• Caesars Entertainment: Major U.S. casino and sportsbook operator (Caesars Sportsbook) with a large land-based footprint and Caesars Rewards loyalty program, providing a broader incumbent comparison to Fanatics Betting & Gaming's integrated retail + digital sportsbook + iGaming + FanCash stack.
• eBay: Largest secondary marketplace for trading cards, memorabilia, and collectibles, competing with the Fanatics Collect marketplace, PWCC Marketplace (which Fanatics acquired), and Fanatics Live — though as a broad incumbent rather than a sports-focused specialist.
• Nike: Global sports apparel and licensed merchandise incumbent whose team-license partnerships (NFL, NBA, MLB) overlap with Fanatics Commerce's license portfolio. While Nike focuses on performance/lifestyle apparel at retail, Fanatics' on-demand e-commerce + licensing model competes for share of sports fan wallet.

Emerging players

• Whatnot: Live-selling marketplace for collectibles (trading cards, memorabilia, sneakers) that directly competes with Fanatics Live and Fanatics Collect's live-breaking experience, targeting the same sports-card hobbyist base with social commerce mechanics.
• StockX: Authenticated secondary marketplace for sneakers, trading cards, and collectibles that competes with Fanatics Collect and the PWCC Vault for the alternative-asset/collector demand, particularly in sports cards and limited-edition memorabilia categories.
• PrizePicks: Fast-growing daily fantasy and prediction-market style operator that competes with Fanatics Markets and Fanatics Sportsbook for the same U.S. sports-prediction consumer wallet, with overlapping product mechanics (entries on player/event outcomes) but a different regulatory pathway.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Fanatics
• Facebookfacebook.com/Fanatics
• LinkedInlinkedin.com/company/fanatics-inc-

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries8 records

Funding overview

Funding rounds11 records

Investors27 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A13 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fanatics