Cherie Cohen, the well-regarded global chief revenue officer of the World Surf League who diversified the sponsorship mix and drove increased revenue during her time there, has taken a new job at the X Games.
The company announced Cohen as the global chief revenue officer this week as new X Games majority owner MSP Sports Capital, a private equity firm, looks to expand the action sports competition property.
The plan is to transform the X Games into a year-round international competition in a league structure.
I asked a few WSL insiders about how Cohen is perceived both inside and outside the industry, and she received high praise. She joined the WSL at a time when most of the major surf brands who used to sponsor the big events were no longer doing so. She brought in sponsors such as Lexus, Neutrogena, Red Bull, and Chase, and also formed partnerships with government and tourism agencies to further diversity revenue streams.
Given that it’s a pretty big deal that she has left the WSL and that she is staying associated with action sports, we asked Cohen a few questions about her new job.
Prior to joining the WSL, Cohen worked at ESPN, NBCUniversal, and Paramount Pictures.
What attracted you to the new X Games role?
X Games Global Chief Officer Cherie Cohen: The X Games is an iconic brand with a rich 30-year history, and the chance to architect its expansion into a global league is a unique and exciting challenge. This isn’t just about maintaining a legacy – it’s about reimagining it for a new era.
In addition, the multi-sport platform offers incredible diversity. Working across various disciplines and engaging with passionate fan bases globally is a rare opportunity. We’re talking about a demographic that is highly influential in youth culture and sets trends across lifestyle, music, fashion, and more, which is incredibly valuable for brand partnerships.
Finally, Jeremy Bloom’s (X Games CEO Jeremy Bloom) vision is truly inspiring. His authentic connection to the athletes and the sport, combined with his business acumen, make him an exceptional leader, and I’m eager to contribute to that vision.
Where do you see an opportunity to grow X Games revenue?
Cherie Cohen: Revenue growth for X Games will be multifaceted. We’ll strategically expand our sponsorship portfolio, targeting both endemic and non-endemic global brands. For endemic brands, X Games provides a powerful platform to reach their core consumers on a global scale and to authentically align with the aspirational lifestyle of action sports.
For non-endemic brands, we offer access to a highly engaged youth audience that is often difficult to reach through traditional channels. This is about creating bespoke partnerships that deliver tangible ROI for our sponsors while enhancing the fan experience.
We’ll also optimize our distribution strategy. Leveraging the strong foundation with ESPN and The Walt Disney Company is crucial, but we’ll also aggressively pursue opportunities on new platforms – streaming, digital, social – to reach a broader, global audience. This includes innovative content strategies that go beyond live events to tell the stories of our athletes and the culture of action sports.
In addition, we’ll diversify our revenue streams through strategic merchandising and licensing initiatives. Think beyond traditional apparel – we’ll explore collaborations that tap into the lifestyle aspect of action sports, including partnerships in gaming, technology, and experiential products.
Finally, we’ll elevate the fan experience at events and create new revenue opportunities around that. This includes premium offerings, travel and hospitality packages, and integrating music, art, and other cultural elements to create a holistic lifestyle experience. The goal is to transform X Games events into must-attend festival-style destinations that generate significant economic impact for host cities.
What were some of your biggest accomplishments at the WSL?
Cherie Cohen: I’m particularly proud of how we navigated the WSL through a period of significant disruption, including the challenges of COVID-19 and shifts within the surf industry.
My focus was on future-proofing the league by diversifying revenue streams and expanding our reach. This involved successfully attracting non-endemic sponsors – global brands like Red Bull, Apple, Lexus, Yeti, Neutrogena, Corona, Chase, Samsung – while maintaining authentic relationships with core surf brands such as Rip Curl, Vans, Florence Marine, Vissla, and Body Glove. This demonstrated the power of creating win-win partnerships that benefit both the sport and the brands.
Beyond sponsorship, we significantly expanded our global distribution network, including innovative digital and streaming partnerships to reach new audiences.
The growth of our merchandising and licensing business was also a key achievement, culminating in significant retail placements like the WSL kids’ line in over 1,500 Zara stores worldwide. Ultimately, my focus was on building a high-performing team and establishing a sustainable business model for the WSL’s continued success.
What will be some of the similarities and differences between the two properties when it comes to sales?
Cherie Cohen: There are clear parallels between the WSL and X Games League. Both operate on a global scale, organizing events and distributing content to overlapping fanbases in key markets like the USA, Brazil, Australia, Europe, and Japan. This global reach is highly attractive to sponsors seeking to build brand awareness and engage with a valuable demographic. Both properties also thrive on the power of compelling content and athlete storytelling.
However, the key difference lies in the diversity of the X Games portfolio. While WSL is focused on a single sport, X Games encompasses a range of action sports, each with its own unique culture and audience. This presents both a challenge and an opportunity.
The challenge is to develop tailored strategies that resonate with each sport’s specific nuances. The opportunity is to create integrated partnerships that leverage the collective power of the X Games platform, offering sponsors access to a broader and more diverse audience. This also allows us to tap into the convergence of action sports with music, fashion, art, and gaming, creating unique and compelling partnership opportunities.
It’s also important to acknowledge the increasing prominence of these sports on the global stage. Surfing, skateboarding, skiing, and snowboarding are now all part of the Olympic Games. This Olympic recognition provides an incredible platform to elevate these sports further, expand their reach, and attract new levels of investment.
My experience at NBCUniversal, with its extensive Olympic coverage, gives me a unique perspective on how to leverage that global stage to collaborate and build these sports every season.
Will you be building a team to help you accomplish your new goals at X Games?
Cherie Cohen: Absolutely. Building a world-class, global sponsorship team is a top priority. I’ll also be working closely with Jeremy to develop comprehensive revenue generation strategies across all business areas. This includes identifying strategic partnerships with government and tourism agencies, exploring innovative business development opportunities, and fostering a culture of collaboration and excellence. We’re not just building a team; we’re building a future for action sports.
Tiffany Montgomery can be reached at tiffany@shop-eat-surf-outdoor.com.
