DraftKings Joins the Streaming Game with New Free Video Service

Sports betting company DraftKings Inc. has announced its plans to launch a free streaming video service that will be supported by advertising.

DraftKings has revealed that the shows will feature video podcasts that will be sponsored by the company, and they are expected to debut in the coming weeks. Sources have stated that the videos will be of trusted personalities across sports media, Bloomberg reported.

DraftKings is in fierce competition with FanDuel, a division of Flutter Entertainment Plc, to attract bettors in the more than 30 US states that have legalized online sports gambling. While both companies continue to spend money on TV commercials, they are also starting to resemble media companies by hiring big-name personalities and operating their own channels to reach sports fans.

In 2021, DraftKings acquired Vegas Sports Information Network Inc. (VSiN), a media company focused on sports-betting shows. Last year, it hired Stacie McCollum, a former ESPN executive, as head of programming. DraftKings has also struck partnerships with Meadowlark Media, a sports-media startup founded by former ESPN President John Skipper and former ESPN host Dan Le Batard, and the radio and podcast giant iHeartMedia Inc.

DraftKings Launches Streaming Service to Compete with FanDuel TV Network

The company’s new streaming service could potentially attract a new audience or even bring in new brands that are more comfortable buying online video ads. DraftKings’ move into the video space follows FanDuel, which introduced its own TV network and streaming service last year. 

FanDuel has also recently announced a deal to license video podcasts from the Ringer, a sports and pop culture media company owned by Spotify Technology SA. The deal with The Ringer has seen the two companies collaborate to create new sports shows and adapt select video podcasts for FanDuel TV, with The Ringer’s programming block including new shows such as Beyond the Arc, Through The Ringer, and the golf show Fairway Rollin’.

Other sports betting operators have also dipped into the streaming service business. Bet365, for example, commissioned a new streaming solution from iGameMedia and Theo Technologies, which provides a seamless live streaming experience for customers who want to watch and bet on live sporting events.

Although DraftKings plans to make a significant impact in the media industry by launching its free streaming video service, the company’s shares have suffered a setback due to a share sale and the COVID-19 pandemic’s impact on the NFL.