Better Collective has reported a strong start to 2021, recording positive revenue growth for the first quarter, and is now looking ahead towards further expansion in the US.
In a recent video, Better Collective, CEO, Jesper Søgaard, broke down the group’s Q1 trading figures, and provided an insight into the operator’s future plans.
Revenue for the first quarter of the year marked a ‘record high’ for Better Collective, having grown by 86% to €38.8 million, up from €20.9 million in Q1 2020 as well as a substantial improvement on Q2 2020, whilst EBITDA rose by 46% from €9.05 million in Q1 2020 to €13.2 million.
“Our US business has developed successfully, with high growth and a rapid increase in profitability,” Søgaard remarked. “The acquisition of Action Network after the close of the quarter marks our largest acquisition to date, and has placed Better Collective as a leading sports betting media group in the US.
“With this acquisition we have added three three new and very well positioned US media brands to our portfolio. We also welcomed 100 new colleagues, who jointly represent an invaluable pool of knowledge and expertise on the US sports betting media market.”
Of the 38.8 million in revenue, publishing accounted for 61% of total earnings, while Paid Media represented 31%.
However, in its initial statement, Better Collective did acknowledge that income was adversely affected by the switch from CPA to revenue share in its Paid Media segment, and whilst the sports betting margin was also lower than average.
The CEO highlighted investment in shifting the focus of the Paid Media division towards revenue sharing and hybrid deals as a continued objective from Q1 2021, having experienced a 54% growth in NDCs, also reaching a record high.
Søgaard concluded: “Q1 has laid the foundation for a promising and exciting 2021, filled with captivating games, business endeavours and big sports events.”
Source – Better Collective YouTube Channel