Turner Sports announced two sports betting content and advertising deals Thursday, monetizing its rights to NBA, MLB and NCAA content.
The DraftKings Deal: Turner Sports announced a partnership with DraftKings Inc DKNG as the exclusive sports betting and daily fantasy sports content provider for Turner Sports properties, including Bleacher Report.
Turner Sports, owned by AT&T T, has rights to NBA, MLB and NCAA men’s basketball games.
DraftKings will be the only sports betting company that can provide ads and sponsor Turner Sports content, excluding NBA content, which was signed under a separate deal.
“Regulated betting is quickly becoming a fixture of modern sports entertainment, and this collaboration with Turner Sports further scales the reach of our products and content to engage fans,” DraftKings Chief Business Officer Ezra Kucharz said in a statement.
When DraftKings announced its ESPN deal last month, shares rose 17%.
Related Link: DraftKings Flies After Michael Jordan Joins As Special Advisor
The FanDuel Deal: Turner Sports announced a partnership with FanDuel to be the exclusive partner for NBA programming for their portfolio, including Bleacher Report.
The multiyear deal will see FanDuel, owned by Flutter Entertainment PDYPY, provide betting odds for NBA content. This partnership began with the 2020 NBA playoffs, where FanDuel sponsored “Group Chat,” a popular Bleacher Report betting show.
TNT’s “Inside the NBA” also featured betting odds from FanDuel integrated into the content.
Why It’s Important: Bleacher Report is the No. 1 digital sports destination for young sports fans, according to the announcement.
The deals will increase brand exposure for DraftKings and FanDuel in a heavily competitive market for new users.
Other companies in the sports betting market are blocked from buying ads or sponsoring content across the Turner Sports portfolio.
This follows up DraftKings' rash of new deals signed this year with ESPN, the Chicago Cubs, the New York Giants and Michael Jordan.
Turner Sports has rights for NBA games through the 2024-2025 season and MLB games through 2028.
DKNG Price Action: DraftKings shares were down 3.39% at $45.95 at last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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