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Fantasy sports ad spending could top $150 mil in Q3

If you watched any National Football League games on television during the first week of the season, you could not have avoided the firehose of TV advertising for daily fantasy sports platforms DraftKings and FanDuel.

Those two services spent an estimated $31 million combined on TV ads in just the last week, Nomura analyst Anthony DiClemente said in a research note Friday.

Daily fantasy sports are single-day fantasy sports contests for cash prizes. Industry heavyweights DraftKings and FanDuel make their money by taking a percentage of the fees that players pay to enter the contests, after the winnings are paid out.

"Although perhaps a temporary phenomenon, we believe that growth in ad spend from (daily fantasy sports) could drive an incremental 40 to 60 basis points in third quarter Internet/media ad spend growth," DiClemente said...