Rumble Shares Jump 15% On Barstool Sports Partnership

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by Tyler Durden
Monday, Jan 22, 2024 - 02:50 PM

Shares of the video-streaming platform Rumble jumped 15% in premarket trading in New York after announcing a partnership with Dave Portnoy's Barstool Sports.

Rumble press release provided color on what exactly a Rumble/Barstool Sports partnership means:

  • Rumble users get access to all Barstool Sports content on the platform, including live streams. 

  • Additionally, Barstool Sports will market and promote Rumble as their preferred video home. The wide-ranging partnership will also include an advertising arrangement under which both companies will help bring brand advertisers to the Rumble platform.

  • Another big step for both companies – Barstool Sports will get access to the Rumble Cloud as its service provider for essential cloud services like computing, storage, and network.

"I'm excited about Rumble's commitment to sports and broadening audiences," Portnoy said in a statement. 

He added: "With the power of Barstool Sports, we are going to help Rumble be the top player in the video, cloud, and live streaming space."

Barstool Sports has grown its audience by 194% and reached 1.6 billion podcast downloads over the past three years. Much of this growth was seen during the Covid era. 

"The partnership with Barstool Sports is a major step in pursuit of our mission to continue building a portfolio of widely popular sports and entertainment content," said Rumble Chairman and CEO Chris Pavlovski.

Will Dave pump Rumble's stock to his millions of followers as he did with Penn during the Covid mania?