Mexican broadcaster TV Azteca has confirmed that it will invest $1 million in DFS software provider Fantasy Network, with a further $10 million committed in advertising of a future Daily Fantasy Sports brand for LATAM regions.
TV Azteca confirmed this morning that it had entered a ‘memorandum of understanding’ with Fantasy Network management, which will see the DFS supplier expand its services throughout its core broadcast markets.
Fantasy Network solutions provide media owners provisions and software to cater for the growing DFS sector, which remains largely untapped in the LATAM region.
TV Azteca governance detailed that its $1 million investment would be made in three separate tranches, with Fantasy Network set initial growth targets of platform subscribers (15,000) and first stage enterprise revenues of $50,000.
Its $10 million advertising investment will be spread over three years, as of when Fantasy Network launches its product for the LATAM region.
ADM, the parent company of TV Azteca, will be responsible for all licenses and permits and complying with all the legal conditions and regulatory approvals required to market and operate through a dedicated sports fantasy games, in each of the territories where it operates through a designated corporation.
Commenting on the enterprise investment Barak Eisenstein, Fantasy Network CEO, detailed:
“Azteca TV’s investment is a vote of confidence in the success of fantasy sports on a global level. The region has significant strategic importance and since the deal is the largest media cooperation outside the US; a game changer for fantasy sports. The capabilities and technology that Fantasy Network offers will be a growth engine for the group Azteca and expand its scope of activities, contents and revenue.”.