Carmelo Anthony investing in high school basketball network


High school basketball is so hot it’s drawing star power.

Carmelo Anthony and MSG Networks are announcing Thursday that they are backing Overtime, a Brooklyn-based sports network that focuses on emerging high school stars.

The move pits Anthony, the former Knick forward, against the likes of LeBron James and Dwayne Wade, who have invested in a rival firm, Mars Reel.

Overtime, which launched in the fall of 2016, will announce a $23 million in Series B fund-raising, including investments from Anthony, an NBA free agent, and MSG Networks, the media arm of Madison Square Garden Co.

Both ventures are looking to meet a growing demand for younger audiences.

Overtime works with videographers to produce content for Instagram, YouTube, Facebook, Twitter and Snapchat, which can then be sponsored by popular brands.

“This generation grew up with a smartphone. No one has created a service for them. That’s who we are creating content for,” said co-founder Dan Porter. “There’s a wave of young people who never watch TV.”

Porter, who served as the digital head of talent agency, WME, started the company with his 26-year-old former WME coworker, Zack Weiner.

The company now makes the bulk of its cash by creating videos sponsored by advertisers like Converse.

The nine-year-old Mars Reel nabs about 30 million views a month, but ratcheted up the competition last year when it attracted investments from James and Wade, rap star Drake and AT&T’s Otter Media.