Oct 20, 2022 - Sports
Exclusive: FanDuel, The Ringer agree to multi-year deal
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Spotify and FanDuel have agreed to a multi-year deal that will see FanDuel expand its partnership with The Ringer, Axios has learned.
Details: FanDuel will remain The Ringer's exclusive sports betting partner under the new deal, while significantly increasing its investment in the sports media company that Spotify acquired in 2020.
Some partnership examples:
- Featured bets: Bill Simmons and other Ringer podcast hosts will design featured bets and promotions for their audiences, who can then wager via FanDuel.
- Increased integrations: FanDuel will be increasingly integrated into a wide range of Ringer content, including featured segments and presenting sponsorships.
- Content creation: This new partnership will enable FanDuel to collaborate with Ringer talent on a variety of content.
- FanDuel TV: The Ringer will license select video content to be syndicated on FanDuel TV, the company's recently-launched linear cable network.
The big picture: Sports betting companies continue to partner with media outlets and personalities in an attempt to acquire customers, promote their brands and align themselves with desirable audiences.
- This has, in turn, created a new revenue stream for media platforms. If a popular podcast is talking about betting, there's a good chance that segment is sponsored by a sportsbook.
- FanDuel has numerous media partnerships, including a deal with punter-turned-podcaster Pat McAfee that's reportedly worth $30 million annually.
