Sports betting and media group Better Collective has lauded the performance of its US business and publishing partnerships amid a buoyant set of 2021 interim results for the period ended June 30.
H1 trading saw the firm hit record Q2 revenues of $46.9m, ahead by 162% on $17.8m year-on-year. Growth was maintained by its publishing network which generated Q2 revenues of $30.5m (+79%) and EBITDA of $13.1m (+68%).
Significantly, Better Collective noted the fast growth profile of its US publishing segment, which registered a 5X jump in Q2 revenues to $8.2m – with the unit set to be further enlarged by the inclusion of sports media company The Action Network.
Jesper Søgaard, Co-founder and CEO, updated investors, saying: “Q2 marks 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.”
Commenting on the Action Network deal, he added: “Since the time of consolidation, Action has performed very well with significant audience growth. And I’m pleased to see the teams already working closely together to achieve positive synergies across the business areas.”
Offering a year-to-date overview, the group advised that its targets remain unchanged, having registered an H1 revenue growth of 118% to $92.7m (YTD2020: $42.2m).
Concluding, Søgaard stated: “For the remainder of 2021 we will continue pursuing our strategy to become the leading sports betting media group in the world. We are well prepared for an exciting and profitable future for Better Collective, and I look forward to further knowledge sharing and joint effort with our new colleagues from Action Network.”
