US growth was at the heart of peak H1 results for Better Collective as it benefited from key breakthroughs in media partnerships.
Publishing its 2021 interim results (period ending 30 June), the firm registered record Q2 revenues of €40 million, up 162% on corresponding Q2 2020 results of €15.2 million.
The heightened growth was elevated by Better Collective’s publishing network registering Q2 revenues of €26 million (+79%) and period EBITDA outcome of $11.2 million (+68%) – as proprietary platforms and media partnerships thrived during the European Championships.
Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q2 marks yet a record quarter in terms of revenue and NDCs delivered to our partners. At the same time, we continue to record strong profitability and cash flows. The strong performance is especially driven by the US business, and by our media partnerships that saw breakthrough performance during Q2.
“The peak of the quarter was the closing of our largest acquisition to date, Action Network, which is a game-changer and consolidates our leading sports betting media position in the US.”
Better Collective also provided an initial performance breakdown of its newly established Atemi Paid Media unit – as the expansion of its offering accounted for revenues of €13.9 million and EBITDA of €1.3 million.
Providing a year-to-date overview, group targets remain unchanged as Better Collective registered an H1 revenue growth of 118% to €79 million (YTD2020: €36m).
Better Collective underscored the diversified make-up of its commercial assets, in which revenue-share accounted for 47% of the YTD revenues (51% of player-related revenue) with 40% coming from CPA, 5% from subscription sales and 8% from other income streams.M&A expansions saw Better Collective increase its YTD costs base to €53 million (YTD2020: €21m) – with expenses attributed to the back-to-back acquired assets of HLTV (esports) and Atemi (Paid Media), Mindway AI (Safer Gambling) and The Action Network (US publishing).