iHeartMedia enters into a multi-year strategic relationship with DraftKings, making the sportsbook the official odds supplier for iHeartMedia’s broadcast, digital, podcast and social platforms.
As part of the agreement DraftKings is now able to co-create and distribute long-form content with iHeartMedia and will receive preferred access to the company’s full roster of personalities.
Additionally, DraftKings and iHeartMedia will collaborate on possible content development opportunities, including the distribution of shows and segments across iHeart’s radio and digital properties and integrations within iHeartMedia’s live sports broadcasts. The two will also collaborate on a number of possible experiential opportunities for listeners and fans, including providing cross platform interactive games.
The deal also includes access to iHeart’s SmartAudio platform for data-driven advertising.
The companies say that would enable fact-based audience planning and targeting optimizations across iHeartMedia’s broadcast and digital platform, providing DraftKings with national exposure and at the same time reaching local audiences with a tailored approach.
“Even though we are number one in audio sports programming, we continue to build new sports content and DraftKings is an ideal partner as we expand and innovate,” Greg Ashlock, CEO of iHeartMedia’s Multiplatform Group said in a release. “DraftKings is a premier sports technology and entertainment company that provides millions of customers with the best in real-money gaming products along with exceptional safety and security through various responsible gaming measures. We look forward to a long and fruitful partnership everywhere sports betting is permissible.”
Legalized sports gambling in the U.S. will generate $2.1 billion in revenues this year and is projected to growth to $10.1 billion by 2028, according to research and brokerage firm Gabelli Securities and the U.S. Census Bureau, eMarketer reports.
DraftKings is one of the top sports wagering companies and has been aggressively partnering with radio and audio outlets. The company has spent $11.7 million on broadcast radio commercials so far in 2021. DraftKings recently purchased VSiN, The Sports Betting Network, and is aligned with numerous radio groups and podcast creators.
“Customer engagement remains a primary focus for DraftKings, and this latest agreement with iHeartMedia amplifies our reach immensely to a dedicated audience that spans more than 160 markets across the country with the largest audio company in the U.S.,” Matt Kalish, Co-founder and President, DraftKings North America remarked. “Analytically tapping into iHeart’s coveted listenership while powering authentic betting content is a landmark moment for both organizations and precursor to new possibilities in media innovation.”