iHeartMedia and DraftKings have inked a new multifaceted strategic agreement, by which the sports betting giant will become the official odds supplier for the corporation’s stations in more than 160 markets nationwide.
The deal, announced on Wednesday, encompasses iHeartMedia’s broadcast, digital, podcast and social platforms. Additionally, as part of the agreement, the sports betting operator is now able to co-create and distribute long-form content with the mass media company, and will receive “preferred access” to iHeartMedia’s full roster of diverse personalities.
Moreover, both parties will collaborate around “a wide range of possible content development opportunities,” according to a press statement. These include the distribution of shows and segments across the media giant’s radio and digital properties, and integrations within iHeartMedia’s live sports broadcasts.
Today, @iHeartMedia and @DraftKings announced a multi-year strategic relationship, making DraftKings the official odds supplier for iHeartMedia’s broadcast, digital, podcast and social platforms. For more details on the deal, visit: https://t.co/QLYYdx48LO pic.twitter.com/3Q5ktqHhaS
— DraftKings News (@DraftKingsNews) November 3, 2021
Additionally, DraftKings and iHeartMedia have also agreed to collaborate on a number of possible experiential opportunities for listeners and fans, including providing cross-platform interactive games.
“We continue to build new sports content and DraftKings is an ideal partner as we expand and innovate,” said Greg Ashlock, CEO of iHeartMedia’s Multiplatform Group. “We look forward to a long and fruitful partnership everywhere sports betting is permissible.”
DraftKings now has the opportunity to leverage iHeartMedia’s SmartAudio suite of data-driven advertising products. This would enable fact-based audience planning and targeting optimizations across iHeartMedia’s broadcast and digital platforms.
As a result, the sports wagering operator would be provided with national exposure while at the same time reaching local audiences with a tailored approach. iHeartMedia counts more than 270 million monthly consumers on its broadcast platform alone.
“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.,” said Matt Kalish, co-founder and President, DraftKings North America.
Tapping into iHeart’s listenership has been described as a “landmark” moment for both organizations by Kalish, who says it could lead to “new possibilities” in media innovation. iHeartMedia currently hosts the largest sports audio network in the U.S., with products across broadcast, streaming, digital, podcast and experiential.