Rumble (RUM) stock surged as much as 17% in early Monday trade.
The rally came after the high-growth video platform and cloud services provider announced a strategic partnership with Barstool Sports, a widely recognized sports, lifestyle, and entertainment brand.
As part of this collaboration, Rumble users will gain access to the complete portfolio of Barstool Sports content on the platform, including live streams. Simultaneously, Barstool Sports will actively promote and market Rumble as its preferred video home.
"I'm excited about Rumble's commitment to sports and broadening audiences," said Dave Portnoy, Founder of Barstool Sports. "With the power of Barstool Sports, we are going to help Rumble be the top player in the video, cloud, and livestreaming space."
The comprehensive partnership extends to advertising, with both companies joining forces to attract brand advertisers to the Rumble platform. This collaborative effort aims to leverage the strengths of both Rumble and Barstool Sports in the competitive digital content landscape.
“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. “Rumble is quickly emerging as a leading platform for the under-30 demographic, and we're excited for Barstool Sports to be a significant part of our rapid growth," he added.
Notably, Barstool Sports will also utilize Rumble Cloud as its primary service provider for essential cloud services such as computing, storage, and network requirements.