Entercom Communications Corp [NYSE: ETM] is in a bullish reversal after several days of losses. This comes after the leading online audio sports company entered into a partnership with and the fastest growing sportsbook company in the United States of America, FanDuel. The deal will see FanDuel become Entercom’s official sportsbook partner in all its best-in-class sports broadcast stations.
In the agreement, the two titans in this industry have a shared goal in which they aim to entertain, inform and engage sports fans of various issues about games and institute a new model where a sports media platform collaborates with a sports gaming operator to bring the best out of sports. Entercom fans will have as part of the agreement access to Fanduel’s games odds, promotions, and insights that they will get through the sports platforms online audio stations and personalities. The two companies are further set to work together to produce content that will bring forth new formats in the industry.
The terms of this deal state that Fanduel will be Entercom’s official sportsbook. Fanduel will have access to all Entercom talent in every area that the two engage or operate together. Fanduel on its part brings all its sports betting content, risk and trading expertise, and progressive sports betting products to all Entercom’s audience and fans. This access will be through a comprehensive integration in the country’s leading and largest sports audio platform.
Commenting on the partnership, Fanduel’s Chief Executive Officer Matthew King said that they were beyond excited to have partnered with Entercom that has revolutionized the entertainment and audio industries in the provision of betting and fantasy categories. He noted that in the two years that the companies have been working together, there has been a real connection with sports fans and the best way of engaging with those fans. He noted that Fanduel will continue providing fans with information relevant and helpful to their needs and continue providing them with tools that will enable them to continue learning and winning.
On his part, the President and Chief Executive Officer of Entercom noted that they believe this to be the largest advertising commitment that has been made in the recent past in the radio industry. He further said that Entercom is committed to providing the best betting experience to all of its audience in markets where this type of betting is legal. The market he noted is growing exponentially, thus the need to take advantage, and what better way than to collaborate and work with Fanduel, an industry titan.