Snapback Sports agrees to ‘7-figure’ renewal with Underdog Fantasy

The Snapchat-based sports media startup Snapback Sports announced this week that it has inked a “seven-figure” sponsorship renewal with Underdog Fantasy through 2027.

According to a press release, the money will go toward growing Snapback’s content, events, and podcasts as it continues to expand beyond Snapchat, where founder Jack Settleman started the brand around 2018.

Snapback is expected to hire additional staff after striking the deal.

“The last three years have been amazing growing alongside (Underdog),” Settleman told Yogonet. “I’m most excited for what this means for Snapback and its fans. Underdog has been the home for fantasy sports for our audience and now we get to dive even deeper into bringing our fans the most innovative content and gaming opportunities.”

Settleman and Snapback also own a stake in Underdog as part of the arrangement.

This year, Snapback has hosted several MLB stadium tours and events for fans. The company produces former NFL defensive back Marlon Humphrey’s podcast, Punch Line . It has more than 950,000 followers on Snapchat.

Underdog has aggressively spent as a sponsor for sports content and podcasts since launching in 2020. Underdog produces in-house content from personalities like Rasheed Wallace and Jared Carrabis while also funding shows like It Is What It Is and Gil’s Arena .

Rather than following the lead of bigger sports betting operators like DraftKings and FanDuel, Underdog instead invests heavily in digital content for younger audiences as a means of marketing their fantasy sports products and driving user engagement to their app.

[ Business Wire ]

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