DraftKings Hires a Verizon Executive as Chief Media Officer

Online fantasy sports and sports betting company DraftKings (NASDAQ:DKNG) said in a press release today it is creating a new executive position: chief media officer. Brian Angiolet, former chief business officer and senior vice president at Verizon Communications, has been tapped to occupy the new post.

DraftKings CEO Jason Robins said Angiolet’s experience will help him use the company’s growing assortment of channels and content to bring more paying customers to its fantasy sports and digital sports gambling services, remarking the CMO pick “deeply understands how the virtuous circle among sports, gaming, and content has the potential to boost engagement.” Angiolet will start working in his new position on April 26.

The hands of two executives shaking hands over a freshly signed contract.

Image source: Getty Images.

The press release notes DraftKings has acquired multiple channels tying in to its main business. It has also made acquisitions to bolster its business performance in other ways. Recently, it purchased BlueRibbon Software, a company whose software will enable personalized jackpot promotions and rewards for users of the DraftKings app. It also bought the Vegas Sports Information Network, or VSiN, a streaming internet TV company broadcasting sports betting news and analysis through several channels. 

As chief media officer, Angiolet will be responsible for coordinating DraftKings’ expanding stable of media properties to funnel customers toward the areas where the sportsbook provider can profit. The optimization is part of the company’s ongoing drive to build engagement in its existing markets, while watching for opportunities to offer its services in states where sports betting is just now being legalized, such as New York. 

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Its multi-pronged approach to profiting from the spreading trend of American sports betting has enabled DraftKings to buck stock market fluctuations and keep growing even when the overall market dips. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

View more information: https://www.fool.com/investing/2021/04/13/draftkings-hires-a-verizon-executive-as-chief-medi/

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