Sports Betting Set to Disrupt Local Revenue

  • The one really positive thing in radio revenue for major markets is the nascent category of sports betting.
  • Some groups like Audacy are hitting it out of the park and others like Cumulus find themselves in the unenviable position of breaking up with their big sports betting sponsor shortly after the wedding.
  • The category’s strength is standing up to time although there are certain areas of concern that are being watched closely.
  • Among them: which sports betting markets are the most desirable and the ones likely to keep pumping money into local radio.
  • And there is a cryptocurrency angle (don’t worry if crypto puzzles you, my NYU students are grappling to understand the new currency) but one radio group is betting their future on becoming a cryptocurrency player in sports betting.
  • The leaders in sports betting revenue are Audacy, iHeart and Beasley – what they’re doing is worth watching closely.

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