AUDACY, INC.

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Delayed Nyse  -  04:00 2022-08-10 pm EDT
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Audacy : BetMGM Expands BetQL Network Relationship as the Presenting Sportsbook Partner

06/27/2022 | 10:35am EDT

PHILADELPHIA, PA - June 27, 2022 - BetMGM will become the exclusive sportsbook of the BetQL Network, Audacy's network of sports betting content heard across its broadcast portfolio and digital platforms. The partnership (The BetQL Network presented by BetMGM) is an exclusive multi-year agreement that significantly expands the current relationship between BetMGM and Audacy. Since its launch in June 2021, the BetQL Network has expanded from two markets to 31 markets and has seen steady growth in podcast downloads (+575%), total listening hours (+467%), live video hours (+440%), video on-demand starts (+270%) and over-the-air audience (+140%) from July 2021 to January 2022.

​​"We are delighted to expand our strategic partnership with BetMGM, highlighted by their new exclusive position with the BetQL Network," said David Field, Chairman, President and Chief Executive Officer, Audacy. "Barely a year old, the BetQL Network has a bright future ahead of it as legalized sports betting continues to expand over the next decade."

BetMGM will have category exclusivity of the network's full slate of programming, including flagship program "You Better You Bet," commencing in September, and "BetQL Daily," "The Daily Tip" and "BetMGM Tonight." BetQL Network's weekly lineup will distribute approximately 100 hours of original content per week on the Audacy and BetQL digital platforms. Audacy will also produce content for live audiences at various MGM Resorts across the country who will host the network inside of BetMGM sportsbooks.

"We're excited to further our strategic partnership with Audacy and to bring our market-leading sports betting and gaming entertainment content to millions of listeners nationwide across the entire BetQL Network platform," said Matt Prevost, Chief Revenue Officer, BetMGM.

As part of the expanded partnership, Nick Kostos, host of "You Better You Bet," the most consumed sports betting podcast in the country, and co-host Ken Barkley will become brand advocates for BetMGM. An industry leader in the sports-betting space who has been covering the medium since 2013, Kostos joined Audacy in 2019 when he and Barkley launched "You Better You Bet" in August of that year. Alongside Barkley, Kostos has built "You Better You Bet" into the No. 1 sports betting podcast in the U.S., according to Triton. From July 2021 to January 2022, the show's podcast downloads jumped 678%, live video hours grew by 531% and total listening hours increased 335% over that span.

Audacy first announced a partnership with BetMGM in March 2021, which designated the market-leading platform as a preferred sports betting partner of Audacy across its best-in-class sports broadcast stations, the Audacy and BetQL apps and digital platforms, and the BetQL Network. Initial key partnership details included integrated content across Audacy's broadcast sports stations, customer acquisition opportunities, and talent endorsements across Audacy's wide spectrum of local and national sports betting content, while bringing BetMGM's sports betting content to the millions of sports fans across the country who tune in daily to Audacy's portfolio of broadcast stations, podcasts and shows.

The BetQL Network is a live, linear digital channel that distributes approximately 100 hours of original content per week on the Audacy and BetQL digital platforms and YouTube. The network, which is also the current home of the popular shows BetQL Daily, You Better You Bet, The Daily Tip and BetMGM Tonight can also be consumed on numerous digital on-demand platforms, Audacy owned and operated broadcast stations around the country and other network broadcast affiliates. The BetQL Network is available nationwide via the Audacy mobile app and website, over 10,000 home and auto-connected devices and betqlnetwork.com.

Audacy is the unrivaled leader in sports radio, reaching three times more people than the leading competitor. Audacy is the #1 sports radio ownership group, which owns and operates 39 all-sports stations across the U.S., including WFAN 101.9 FM/660 AM (WFAN-FM/AM) in New York, SportsRadio 94WIP (WIP-FM) in Philadelphia and 670 The Score (WSCR-AM) in Chicago. Its unparalleled broadcast portfolio reaches nearly 30 million sports fans monthly and boasts the nation's leading collection of radio play-by-play coverage. Audacy also serves as the flagship home of 41 professional teams and over 50 Division 1 collegiate programs, including the New York Yankees and Boston Red Sox, Dallas Cowboys and Kansas City Chiefs, Golden State Warriors and Chicago Bulls, and University of Michigan and University of Oregon, among others.

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Disclaimer

Audacy Inc. published this content on 27 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 June 2022 14:34:04 UTC.


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Financials (USD)
Sales 2022 1 274 M - -
Net income 2022 7,20 M - -
Net Debt 2022 1 791 M - -
P/E ratio 2022 31,1x
Yield 2022 -
Capitalization 90,4 M 90,4 M -
EV / Sales 2022 1,48x
Capi. / Sales 2023 0,07x
Nbr of Employees 4 234
Free-Float 81,2%
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Number of Analysts 4
Last Close Price 0,62 $
Average target price 0,69 $
Spread / Average Target 10,5%
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Managers and Directors
David J. Field Chairman, President & Chief Executive Officer
Richard J. Schmaeling Chief Financial Officer & Executive Vice President
Sarah C. Foss Chief Technology Officer
Susan R. Larkin Chief Operating Officer & Executive Vice President
David J. Berkman Independent Director
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