XLMedia PLC (AIM:XLM, OTC:XLMDF), the AIM-listed global digital media company, said it has signed a new partnership with Newsweek to exclusively supply premium sports betting content for the global news brand, reaching 50 million unique readers across the US each month.
XLMedia will supply exclusive content through its Sports Betting Dime brand.
Newsweek represents XLMedia's largest national media partner to date, offering substantial audience reach across the US in both current states with legalised online sports betting and future states as sports betting continues to be legalised across the country.
Within the agreement, XLMedia will focus on creating highly engaging sports betting content while also managing commercial deals with regulated sportsbook operators and executing proven monetisation strategies.
The company expects this deal to make an initial contribution to revenue in 2023 with the potential to grow over the medium term.
In a statement, David King, chief executive of XLMedia, commented: "We are thrilled to partner with Newsweek, adding another high-quality publisher to our partnership business, and we look forward to working with them.
“This partnership is an important part of expanding our reach in existing legal sports betting states while also laying the ground to reach new audiences when new states legalise online sports betting."
XLM shares were up 5.5% to 17.95p in early trade on Thursday morning.