DraftKings Places Big Bet on Le Batard and Friends
When it comes to gambling on sports, the DraftKings platform has become a trusted source for many wagering enthusiasts looking to place a bet. This week, with the news that DraftKings has formed a $50 million partnership with Dan Le Batard and his media company Meadowlark Media, it is DraftKings who are placing a large bet of their own.
Not quite five months after splitting from ESPN, “The Dan Le Batard Show with Stugotz” has found itself a new home. For the next three years, DraftKings will now co-distribute the sports and pop culture podcast that averages over 10 million downloads per month. Meadowlark Media is run by Le Batard and former ESPN President John Skipper.
DraftKings The Media Company?
This week, it was the announcement that DraftKings had made a licensing and distribution partnership with Le Batard and his co-host Jon “Stugotz” Weiner to co-distribute their popular podcast.
Late last month, DraftKings announced that they had purchased the sports betting and information station, VSiN. (Vegas Sports Information Station) VSiN produces and distributes 18+ hours of live sports betting content each day and has formed many different distribution partnerships with companies like; MSG, NESN, Comcast, and others.
In between those two announcements, DraftKings went out and hired former Verizon Communications executive Brian Angiolet to be their new Chief Media Officer.
Why This Makes Sense
As the sports wagering industry continues to legalize and rapidly expand across the US, more and more companies like DraftKings, FanDuel, and others are trying to find ways to capture the growing market. We are starting to see a real trend where companies that were once thought of as strictly sportsbooks are now becoming very active in the sports media and content space.
Popular podcasts, like the Dan Le Batard Show with Stugotz or the Pat McAfee show (who partnered with FanDuel last summer), have an already large fanbase and are deeply engaged with their listeners and viewers. By partnering with these types of media personalities and content providers, it is another way for sportsbooks to try and capture new customers and distribute their products.
Now What?
Moving forward, you would expect to see more of these types of partnerships being formed, and we should also expect to see traditional content providers like ESPN, FOX, and others continue to try and capture their share of the sports gambling market as well.
If the partnerships between sportsbooks and media content providers are successful and help the sportsbooks capture and grow their customer base, it is conceivable that instead of just media personalities, you will start to see them purchase actual rights to games and live events.
It is entirely possible that one day DraftKings is bidding to stream live MLB, NFL, NBA content and possibly even bid to distribute major events like the Super Bowl.
Obviously, we are still a long way from that being the norm, but certainly, traditional content providers have now been put on notice.
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