Better Collective reported a strong start to 2021 with positive first-quarter revenue growth and is now planning further expansion in the US.
In a recent Better Collective video, CEO Jesper Sogaard, analyzed the group's trading performance for the first quarter and spoke about the operator's plans for the future.
Revenue for the first quarter of the year was a record for Better Collective, up 86% to €38.8m from €20.9m in the first quarter of 2020, while EBITDA rose 46% from €9.05m in the first quarter. quarter of 2020. up to 13.2 million euros.
“Our business in the US is doing well, with strong growth and profitability growth,” said Sogaard. “The acquisition of Action Network after the close of the quarter was our largest acquisition to date and established Better Collective as the leading US sports betting media group.
“With this acquisition, we have added three new and very well positioned American media brands to our portfolio. We also welcomed 100 new colleagues who together represent an invaluable pool of knowledge and experience in the US sports betting media market.”
Of the 38.8 million in revenue, publishing accounted for 61% of total revenue and pay media accounted for 31%.
However, in its original statement, Better Collective acknowledged that revenue was negatively impacted by the shift from CPA to paid media share of revenue, and margins for sports betting were also below average.
The CEO stressed that investment in shifting the Pay Media Division's focus towards revenue sharing and hybrid deals as an ongoing goal since the first quarter of 2021, when 54% saw NDC growth, has also reached a record high.
Sogaard concluded, "The first quarter set the stage for a promising and exciting 2021 filled with exciting gaming, business ventures and major sporting events."
Source - the best collective channel on YouTube
The Better Collective post focuses on US expansion after a successful first quarter and first appeared on GamblingTV.com.