In a bold move to capture the hearts of sports fans and bettors alike, FanDuel has announced the launch of a new free ad-supported streaming television (FAST) channel, touted to showcase more live sports than any other existing FAST channel. Described as the “premier destination” for enthusiasts eager to watch live sports and place bets simultaneously, FanDuel is setting a new paradigm in the digital sports entertainment arena.
FanDuel TV Extra, as the channel is named, is readily accessible on popular streaming services including Pluto TV and the Roku Channel. It also finds its home on FanDuel’s proprietary platform, FanDuel TV+. This expansion provides an unprecedented array of live sports coverage for viewers, encompassing international basketball leagues from China and Turkey, the South Korean K-League football, and events from the Professional Darts Corporation and PokerStars.
The strategic launch of FanDuel TV back in September 2022 laid the groundwork for this initiative. Kevin Grigsby, the network’s executive producer and senior vice-president, expressed his confidence that the new venture will not only enhance customer acquisition but will significantly shape the consumption of sports content in the industry. He conveyed his anticipation of integrating FanDuel TV Extra with more FAST providers in the near future, illustrating a commitment to broadening the channel’s reach.
“Our research showed a large portion of our target audience already consume content on FAST,” voiced Grigsby. He emphasized that broadcasting over 12 hours of live, wagerable sports daily sets FanDuel TV Extra apart in the marketplace, aiming to attract a diverse group of devoted sports fans and bettors.
This development arrives in a climate where streaming live sports has emerged as a critical tool for operators in acquiring new customers. A survey conducted by YouGov illuminates this trend, revealing that nearly two-thirds of participants believe that the ability to stream sports live would significantly increase their likelihood of utilizing a betting operator’s app.
The entry of ESPN Bet into the market in November of last year, backed by the media giant ESPN, represents a notable player in this growing field. With a subscriber base of 25 million users for its ESPN+ streaming service, the prominence of ESPN in sports media cannot be overstated. The YouGov survey also found that a strong 74% of current sports bettors recognized the service, pointing to the potential for sustained growth given the inherent appeal of simultaneously watching and wagering on live sports.
FanDuel, powered by the acumen of its parent company Flutter Entertainment, envisions that its latest platform will catalyze further expansion. Peter Jackson, the chief executive of Flutter, praised FanDuel’s “tremendous” performance over the year. The operator’s accomplishments are evident, with FanDuel marking an impressive milestone by posting its first positive annual adjusted EBITDA in the US in 2023.
Jackson’s celebratory comments come on the heels of Flutter’s claim to market leadership in the US, with US operations securing a 53.4% net gaming revenue market share in 2023, eclipsing the previous year’s 43.2%. The adjusted EBITDA figures for the US saw a dramatic rise to $167m in 2023, reflecting an exponential growth from the $263m reported in the prior year.
In summary, FanDuel TV Extra is paving the way for a new era of sports streaming, integrating the excitement of live sports with the thrill of real-time betting. As the platform expands and reaches new audiences, it reinforces FanDuel’s pioneering role in the transformation of sports entertainment and gaming industries, promising a deeply engaging experience for sports aficionados across the globe.
