Seven West Media joins the fantasy fray with Draftstars investment
Seven West Media has taken the leap into the fast-growing fantasy sports market, joining CrownBet and Fox Sports as a shareholder in Draftstars.
The media company announced it is taking a 33% stake in the business which launched in March, offering players the chance to form their own AFL and NRL fantasy teams and play daily for cash prizes.
Draftstars is the official fantasy sports partner of the AFL, allowing players to pick teams on a daily basis and watch their progress in real time, compared to season long fantasy sports teams which require a long term commitment from players.
Announcing the stake, Seven said it would provide media support to Draftstars as well as contribute to product development and would invest to drive awareness of the brand.
Seven West Media CEO and managing director Tim Worner said the investment was an opportunity to get involved in an early stage business with huge potential for growth.
“We are delighted to partner with CrownBet and FoxSports in Draftstars,” Worner said.
“Our investment builds on our strategy of leveraging the power of our media assets to scale early stage businesses. Draftstars is an exciting investment for our company and we look forward to working with them and our investment partners in driving brand awareness and engagement.”
Sanders: “The partnership boasts the strongest-possible set of assets to bring this exciting, simpler, and more engaging form of entertainment to Australian sports fans”
Draftstars CEO Matt Sanders said the decision by Seven to join in the venture was an important step in the development of the brand.
“We’re thrilled to have Seven West Media come on board in time for the AFL finals and add their experience and audience to our engaging digital product,” Sanders said.
“The partnership of Seven West Media, Fox Sports and CrownBet boasts the strongest-possible set of assets to bring this exciting new, simpler, quicker and more engaging form of entertainment to Australian sports fans.”
Seven’s chief digital officer, Clive Dickens, said the investment came as Draftstars prepared to grow the number of sports fantasy players could participate in.
“Draftstars will soon launch EPL and Cricket to complement its existing range of highly-engaging contests across AFL, NRL, NFL and NBA,” Dickens said.
“It is a highly scalable, mobile product and platform that is backed by powerful partners, each of which provide strong competitive advantages.”
In May, Draftstars appointed Clemenger BBDO to handle the launch of the brand.
Might want to check that Fairfax/Moneyball thing, I believe that deal fell through.
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