Pulse
Sports Betting North America NBC SPORTS
last four years for our regional sports networks. Tey've exclusively had our regional sports networks whereby they've been able to basically own everything if they've wanted to on our RSN air. So, they've had NBA, MLB, hockey, you name it. If there was a sports integration that we were doing for sports betting with our RSNs, it was owned by PointsBet.
PointsBet has recently been acquired by Fanatics Sportsbook, so we're working through that transition as they have now assumed the PointsBet contract, if you will. We do it on a annual basis because the governing bodies update the rights and rules. Taking the NFL as an example, in the States a sportsbook needs to have a deal with the league itself to be an official partner of that league. DraftKings has a deal in place with the NFL where they're an official partner, whereas PointsBet chose not to do a deal with the NFL, so they have no rights to NFL IP.
Tis means that if we wanted to do a deal with a non-NFL official partner, unfortunately, we would have to do it where there's no footage, no marks, and logos. Tat's the first block that needs to fall. Does the sportsbook have a deal in place with the league? Depending on the answer, we're then open to discussing with them about whether it’s for a single season, multi season, what they want to do, what do we want to do, and can we come to terms on value and price.
In terms of KPIs, can a media brand such as NBC successfully convert bettors on masse to an app?
Yes, we can. And we've proven that we can. Te sportsbooks come up with promo codes. So, first time users sign up and use code SNF for Sunday Night Football. And if somebody signs up and use that code, we get credit, if you will, for a first-time conversion. In the early stages of sports betting, there was a referral fee that
you would get like a bounty which was great additional revenue, and we were then incentivised and motivated to help them convert first time users.
Now that has become a little bit more of a normalcy here, the referral fee is sort of gone, but the promo code remains. We're still being evaluated on whether we're converting first time users. Secondly, there are user journey paths you can establish by linking from a written article or a video, and then going straight to the sportsbook. Te sportsbook can see if they are coming from an NBC Sports platform or an NBC Sports entity and that's also part of the evaluation process.
Where is NBC on its journey with the betting industry?
I wouldn’t say we're at the beginning, but it's still early. I think we're doing things that other networks aren’t. Like I said, we’ve done north of 20 BetCasts whilst there are other networks that are just starting to try it out. We've been doing it for multiple years now. ESPN partnered with Penn, and they've created ESPN Bet, where they've licensed their name to become a sportsbook. I don't see that as a direction that NBC Sports is going to go in, namely because the regulatory hurdles you must jump through and the checks that you must do to become a licensed sportsbook operator are very thorough.
I think the next iteration is about how we can make this frictionless? How can we make this easier and more accessible to the sports fan? We know that these people come back more often, stay longer, and it's better for ratings. I think that's going to be the holy grail. If we can integrate a book into our cable technology where you don't need another device, that's exciting. I would love to be able to work on that and figure that piece out. Tat's highly valuable for us and for the book. Tat partnership could be lucrative for both sides of the coin.
I wouldn’t say we're at the beginning, but it's still early. I think we're doing things that other networks aren’t. Like I said, we’ve done north of 20 BetCasts whilst there are other networks that are just starting to try it out. We've been doing it for multiple years now. ESPN partnered with Penn, and they've created ESPN Bet, where they've licensed their name to become a sportsbook. I don't see that as a direction that NBC Sports is going to go in.
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