Triplets Guard Alan Anderson (6) hits the basket during the BIG3 championship game between the Triplets and the Killer 3’s on September 1, 2019 at the Staples Center in Los Angeles, CA.
Brian Rothmüller | Sportswire icon | Getty Images
Social media company Triller has reached a joint venture deal with rapper Ice Cube’s Big3 basketball league and will host its first all-star game, the parties told CNBC.
Specific terms of the agreement were not provided, but Big3 and trill will share the advertising revenue generated by events. The companies will also share arena signage and will cross-promote their brands.
Big3 is a traveling circuit league where former National Basketball Association stars play in a three-on-three format during the summer. The league’s participants typically earn around $ 10,000 per game plus bonuses that are tied to winnings. Salaries can go as high as $ 100,000.
“Nothing is as fun or as fast in sports as Big3 basketball, and the minute you watch a game you get hooked,” Triller co-owner Ryan Kavanaugh said in a statement. “We are excited to partner with Ice Cube and the Big3 organization to bring this exciting and growing sport to trill audiences around the world.”
Triller will also feature 30 hours of exclusive games from the 2021 Big3 season and will host its draft on June 14th. The Big3 was founded in 2017 by Cube and entertainment manager Jeff Kwatinetz.
In a joint statement, Cube and Kwatinetz said the deal will allow Big3 to expand its reach to Gen Z or those under the age of 24. They said the agreement was “a perfect combination of sport and entertainment for this population group”.
In this photo illustration, the Triller logo is displayed on a smartphone.
Sheldon Cooper | SOPA pictures | LightRakete | Getty Images
Triller, which competes with TikTok, is looking to add more sports content to increase its user base. Using short video content, Triller successfully promoted a fight between boxing icons Mike Tyson and Roy Jones Jr. in November on his platform.
The company makes money through e-commerce, branded content integration, streaming pay-per-view events, and other digital content monetization. But has trills asked questions about its user base and has reshuffled its top executives in the past few months.
People with knowledge of Triller’s business relationships told CNBC that the company raised $ 250 million on a valuation of $ 1.5 billion. People asked not to be identified for privacy reasons as the company does not publicly discuss its financial information.
People said Triller had 300 million downloads of its mobile app but didn’t say how many active users it has. Nevertheless, Triller used the funds to expand, Buy Fite TV, a martial arts streaming service and technology company called Amplify.ai. It appointed the CEO of that company, Mahi de Silva, as the new CEO of TrillerNet, the parent company that operates Triller. He replaced former Triller CEO Mike Lu.
Trills too Bought, a music-based content platform that grew in popularity on Instagram. Trills outbid Apple Verzuz to acquire after Bloomberg. And the company also agreed on a license agreement Universal music group to use the company’s catalog.
By partnering with Big3, Triller hopes to increase its brand awareness and streaming opportunities with a unique sports audience that supports the league. Triller could see its signage on too ViacomCBS‘Network and its Paramount + streaming service, as Big3 also has a media rights deal with ViacomCBS.
Triller’s agreement stipulates that all Big3 games will have their signage on the sidelines, which is foreseen with regard to Big3 broadcasts.