FanDuel has signed an unique partnership with Spotify to change into the sports activities betting associate of The Ringer podcast.
The monetary phrases of the deal weren’t disclosed, however the year-long partnership will final via February 2022. Listeners will see and listen to promoting from FanDuel on The Ringer podcast and web site, social media accounts, and newsletters. The Ringer will even host listener fantasy leagues the place followers can compete in opposition to podcast hosts like Invoice Simmons, Joe Home, and others.
FanDuel has marketed on The Ringer earlier than, but it surely has by no means struck an unique promoting deal. The most recent settlement with Spotify is value greater than 3 times its earlier investments, in accordance with Fan Duel. Previous to being acquired by Spotify final yr, The Ringer podcast community made $15 million on podcasts in 2018.
Sports activities betting corporations are turning to podcasts and YouTube promoting to seek out new clients. DraftKings spent a reported $50 million to signal a distribution cope with Meadowlark Media, a manufacturing firm based by former ESPN host Dan Le Batard.
FanDuel says reaching new audiences by way of podcasting promoting is essential for its enterprise mannequin. David Webb, VP of Media & Demand Era says, “The Ringer is a part of our core technique to achieve, interact, and construct connections with followers within the US via compelling content material creators.”
“The Ringer community and the group of expertise there carry a novel perspective to sports activities and sports activities betting, and we imagine this mixture will add continued worth to our clients, followers, and audiences alike.”
Angie Extra, Head of World Podcast Gross sales at Spotify, says the deal is a match made in heaven for the 2 corporations. “We’re delighted to deepen our partnership with FanDuel on such a novel engagement throughout The Ringer’s portfolio,” Extra says. “We’re able to develop and execute extra artistic concepts that can elevate each manufacturers within the eyes of sports activities and popular culture followers.”
The deal companies to spotlight how Spotify and Apple Music’s enterprise mannequin differs. Apple doesn’t have any promoting partnerships to strike with its podcast companions as a result of it’s not within the ad-selling enterprise. It’s additionally prepared to pay artists a penny-per-stream for his or her music listens, whereas Spotify refuses to pay even that.
It’s a bit disheartening to see Spotify prepared to strike so many multi-million greenback offers however not pay artists their fair proportion. Music streaming is meant to be the spine of Spotify – whereas podcasts are presently the defining battleground.