Entercom Moves To Grow Its Digital Capabilities

Just weeks after announcing a partnership with FanDuel, Entercom Communications Corp. has acquired sports data and iGaming affiliate platform QL Gaming Group in an all cash deal for approximately $32 million.

According to the Philly Business Journal, QL Gaming Group operates three consumer facing data and analytics brands: BetQL for sports betting, RotoQL for daily fantasy, and SquadQL for season-long fantasy. It also operates AccuScore for simulation-based sports outcome predictions and game forecasting, and TennisInsight.com for comprehensive analytical coverage of the ATP and WTA Tours. Each have respective subscriber bases and licensing opportunities.

Core to the new offering is BetQL. Entercom said the app “democratizes sports betting” through a proprietary algorithm and advanced analytics, delivering direct-to-consumer data which will now be spread across Entercom’s sports audio portfolio.

“The new subscription-based offering simplifies sports betting, from the novice to professional, and gives consumers access to real-time sports data, news and content across any device, speaker or screen – taking the sports experience to the next level,” Entercom said in a statement.

QL Gaming boasts of over half a million users across these products and tens of thousands of paying customers. It holds a gaming license in New Jersey to act as an affiliate to sportsbook operators such as DraftKings, FanDuel, BetStars and others.

The deal with QL Gaming comes as Entercom is trying to grow its digital capabilities. After completing a 2017 deal to buy CBS Radio, it made Radio.com the home of all of its digital offerings. Then last year, it acquired two major podcasting companies. Just a few weeks ago, it announced a partnership with FanDuel that makes it Entercom’s “the official sportsbook partner.” Field said on Friday’s third-quarter earnings call that the FanDuel transaction is "the largest advertising deal in radio history,” though he did not provide specific numbers.

Entercom’s third-quarter revenue increased by 53% from the second quarter, showing signs of improvement. But that figure was still 30% off the pace from the same period of 2019, causing the company to suffer an operating loss of nearly $300,000 compared to income of $79.5 million. While advertising is down, digital revenue was up 41% to $47.3 million for the quarter due to strong audience and revenue growth in podcasting and digital audio advertising.