FanDuel Partners with Spotify
Author:
Muhammad Gregory
Sports betting operator FanDuel Group has clinched a multi-year content production deal with streaming audio platform giant Spotify’s “The Ringer” podcast network. The two already hold an existing partnership together, with FanDuel now beginning to work closely together with “The Ringer” website, podcast network and video production company to produce content for FanDuel TV.
FanDuel Group has unveiled a multi-year content production deal with streaming audio platform giant Spotify’s “The Ringer” podcast network, with exclusive content catered to FanDuel TV’s viewership in the pipeline.
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The Ringer To Hand Over Select Video Podcasts over to FanDuel TV
Worlds collide: the Flutter Entertainment-owned sports betting provider FanDuel Group has announced that it has signed a multi-year content production deal with global streaming audio giant Spotify.
According to the new agreement, which follows an already established partnership between the two companies, FanDuel will begin working closely together with Spotify’s “The Ringer” website, podcast network and video production house specifically, in order to produce content catered specifically towards FanDuel TV and its viewership.
Further breaking down the details of the agreement reveals that The Ringer will license select video podcasts over to FanDuel TV. This will encompass existing shows adapted for FanDuel TV but also, crucially, a number of brand new shows focusing on sports and competitions, including the likes of the National Basketball Association (NBA). Custom-made content will also feature programming dedicated to sports betting and wagering covering a range of sports events.
FanDuel TV is an Ideal Platform to Promote The Ringer’s Popular Personalities
Commenting on the momentous news was FanDuel chief commercial officer Mike Raffensperger, who expressed the operator’s excitement at the opportunity of being able to partner with such a known entity as Spotify, seeing a new path for helping broaden the music giant’s platform thanks to FanDuel’s reach:
“We are extremely excited for this partnership and further strengthening our relationship with The Ringer. They are home to one of the strongest podcast networks in the world and FanDuel TV can help define a new medium for distributing its content. FanDuel TV is the perfect platform to showcase The Ringer’s top personalities, broaden their audiences and become flagship programming for the network.”– Mike Raffensperger, Chief Commercial Officer, FanDuel, Press Release
Meanwhile for its part, The Ringer managing director Geoff Chow also shared FanDuel’s enthusiasm for the deal, likewise seeing the potential for new audiences thanks to the operator’s broad fanbase:
“We’re thrilled to expand our long-standing partnership to include creating content for FanDuel TV. It’s exciting to bring The Ringer’s signature blend of enthusiasm and expertise to this new audience.”– Geoff Chow, Managing Director, The Ringer, Press Release
FanDuel Signed Comprehensive Sports Betting Deal with MLB in March 2023
FanDuel is scoring deals left and right, with the sports betting provider announcing just recently in March 2023 a partnership with Major League Baseball (MLB), now acting as the famed league’s co-exclusive official sports betting partner, after also becoming its authorized gaming operator back in 2019.
FanDuel has subsequently received the right to stream MLB.TV’s Free Game of the Day via its sportsbook app, as well as on its FanDuel+ OTT platform, though this is still contingent on local blackout restrictions. FanDuel can also employ MLB game highlights in both in-product and as part of original programming on FanDuel TV.
MLB executive vice president of media and business development Kenny Gersh celebrated FanDuel’s overall business strategy and dedicated to promoting and upholding the values of responsible gambling:
“As one of the top sportsbooks in America, FanDuel has been an industry leader in innovative fan engagement opportunities while also reminding them of the importance of doing it responsibly. These key priorities of unique fan engagement and responsible gambling align with our focus from the league level and make FanDuel a natural partner to collaborate with as an official sports betting partner.”– Kenny Gersh, Executive Vice President of Media and Business Development, Major League Baseball (MLB), Press Release
FanDuel president Christian Genetski, meanwhile, zoned in on the passion of the everyday baseball fan in his shared statement, simultaneously seeing a bright future ahead for the operator and Major League Baseball (MLB) as a result of the partnership:
“The baseball fan is one of the most engaged in all of sports, which is why we’re delighted to be the new sports betting partner of Major League Baseball. Our team is eager to showcase FanDuel in nationally broadcast MLB games and help enhance game narratives and bring America’s pastime directly into our mobile app and OTT platform for fans to watch and wager. We’re also very excited about the opportunity to work together with MLB on new betting product innovations that will give customers the opportunity to enhance their experience on every pitch from March until October.”– Christian Genetski, President, FanDuel Group, Press Release
New York Arbitrator Valued FanDuel at a Whopping $20 Billion in November 2022
FanDuel executives and shareholders were probably pleased to hear in November 2022 that an arbitrator in New York ruled that Fox Corporation could entertain its option to acquire a significant stake in the Flutter Entertainment-owned group, valuing the gambling provider at an impressive $22 billion (￡17.7bn/€20.1bn).
New York’s Judicial Arbitration and Mediation Services’ valuation and decision permits Fox to acquire an 18.6% stake in FanDuel, which Flutter initially granted to Fox when it decided to purchase an additional 37.2% stake in the business from Fastball Holdings in December 2020.
Chief executive of Flutter Entertainment, Peter Jackson, explained that the New York Judicial Arbitration and Mediation Services’ ruling made clear the company’s confidence in its own worth:
“The ruling vindicates the confidence we had in our position on this matter and provides certainty on what it would cost Fox to buy into this business, should they wish to do so. FanDuel is winning in the US market and is the clear #1 operator, a position driven by its exceptional market leading product and efficiency in acquiring customers at scale. The team remain focused on maintaining our leadership position and we look forward to updating the market on our progress at our US capital markets day on 16 November.”
