What ESPN's big bet on gambling means for the sports media bundle
Listen to our analysis in today's podcast, and then sign up to the Unofficial Partner Convergence Brainstorm on September 28th.
Disney-owned ESPN's move in to the US gambling market reveals the future of the sports economy.
ESPN’s $2billion, ten year deal with betting operator Penn Entertainment, which sold back its ownership stake in Barstool, with which it was previously building a sports and gambling offer.
“We are confident that the combination of our unparalleled audience along with Penn’s operational expertise and state-of-the-art technology provides us with a tremendous opportunity to serve the ever-growing number of consumers interested in betting,” said Jimmy Pitaro, the Disney executive who oversees ESPN.
But as today's conversation reveals, it ain't as simple as that.
Many questions face Disney's new sports betting convergence play.
How promiscuous are sports punters? Why will they move to ESPN's sports book and away from existing and well entrenched platforms such as Fan Duel and DraftKings, when they have patently not done so for Barstool?
What is the role of fantasy games in the sports ecosystem, and how important is player data in the way today's sports fan engages with media outlets of all types?
It's this type of detail we're able to access, in the company of one of the most interesting thinkers working in this space, Sam Sadi, CEO of LiveScore Group.
This is a conversation about the economic model of professional sport.
The traditional broadcast funded sports media bundle is under strain.
Estimates of future media rights revenues are static or declining in many markets and across many sports.
So different business models are being trialled.
Retailers such as Fanatics and Amazon are now looking like broadcasters.
Sports teams and leagues are acting like media platforms.
And what of the gambling industry?
What role will they play in the new converged sports economy?
Our conversation today is a fascinating insight in to the opportunities and limitations of sports media to generate a return for its commercial partners, both now and over the next decade.
Luckily, these themes will play a central role in our next public event.
What is it?
Like a conference session, only good.
How does it work?
We invite smart people to solve a problem, live on stage. The result is an evening of high quality and entertaining thought leadership.
A mix of guests from inside and outside of sport discuss the convergence of sports media and gambling. The audience consists of approximately 100 paying customers and VIP guests.
Light refreshments and networking opportunities are provided.
The evening is recorded, edited and subsequently published as an Unofficial Partner podcast.
The tone is informal and, whisper it, fun.
Space is very limited, so buy your ticket now to avoid disappointment.
Confirmed Panellists Include:
Sam Sadi – CEO at LiveScore Group
Samuel Westberg - CRO & Co-Founder of Livelike
James Liddy – Managing Director and Head of Gaming, Lodging & Leisure EMEA at Deutsche Bank
Elizabeth Dunn – Partner (Sports & Gambling) at Bird & Bird LLP
Juan Delgado – CEO at FootballCo
Elliot Richardson - Founder of Dugout, now OneFootball
See you there.