PointsBet considering media deals that “align with its premium brand”
Operator in “multiple conversations” with media firms as it seeks partnership
PointsBet is exploring potential media partnerships with multiple firms as it seeks partners that “align with PointsBet’s premium brand,” the firm has revealed.
Speaking to EGR NA, PointsBet CCO and former VP of business development and partnerships at CBS Sports Digital Eric Foote said the operator was having “multiple conversations”.
“We’re a premium brand and we want to keep that level of integrity. So, who we are, who we partner with – we want to mirror that premium value and that integrity across our business unit, which is very important,” Foote said.
“[It is crucial] to find an immediate partner or partners that have a nice variety of assets across both broadcast and digital, because as we all know consumption, depending on what age you are, is moving to digital,” he added.
Foote is carefully monitoring which brands are being marketed and which assets are being tied up in other media partnerships within the industry.
“There needs to be a true commitment on both sides to have dedicated staff to the partnership, knowing that there are large commercial dollars being exchanged the opportunity to grow the revenue based on first time bettors, first time depositors or a sign up basis, there’s a significant opportunity,” he said.
In the wider betting industry, he expects to see more deals struck in 2020 and 2021 that present “a more level playing field” for operators and media firms.
“Over the course of the next several years, as the market matures and media companies become more educated and interested in the space, I see more and more media companies getting licensed and wanting skin in the game,” Foote said.
The operator reported positive net revenue growth to $2.2m in the quarter ending March 31, 2020, up from a $300k loss the previous year.