Global entertainment giant IMG Media is partnering up to give social media sports video company Wave.tv broad access to its sports licensing rights, executives tell Axios.

Why it matters: The deal speaks to a new generation of sports programming for younger people on social media who are avid sports fans but don't like sitting through long games on traditional TV.

Driving the news: Wave.tv, which is home to dozens of sports shows across platforms like Instagram, Snapchat, TikTok, Facebook and YouTube, will be able to access a broad range of IMG's licensed sports rights to use for its shows, including Euroleague Basketball and Worlds Strongest Man.

The big picture: Over the last few years, a new crop of digitally-native sports media companies have popped up to create sports shows for younger generations of sports fans that aren't interested in watching hours-long coverage of games on live TV.

Be smart: Among all of the players we've spoken to in social sports media, format is universally deemed critical.

What's next: Wave.tv is expanding to accommodate the flurry of new content rights deals, says Verne. It plans to hire 12-20 additional full-time employees to add to its existing 42 employees this quarter.

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IMG partners with Wave.tv to distribute sports rights on social - Axios