Better Collective’s 2023 Annual Report Highlights Significant Growth and Strategic Achievements
Better Collective, a prominent player in the digital sports media sector, had a landmark year in 2023, furthering its mission to become a leading group in this space. Throughout the year, the company led the way in innovation and growth, acquiring seven businesses to enhance its market position and more than doubling its sports audience from 180 million to over 400 million monthly visits. A significant development was the initiation of AdVantage, an in-house advertising technology platform, addressing the demand for targeted audience reach by advertisers. This year also saw a 13% organic growth in the business alongside considerable operational earnings improvement.
A notable aspect of 2023 was the 50% increase in recurring revenues, reaching €191 million (£163.2 million/US$208.6 million), marking it as a year of both record-breaking revenue and quality performance due to the sustainability of these revenues. The year also witnessed an unprecedented referral of over 3 million new depositing customers, setting a strong foundation for future revenue.
The company is in the midst of a revenue transition in North America, aiming for a sustainable and value-driven future through a focus on recurring revenue share income. This strategic shift is expected to set a strong foundation for future growth, with 2024 serving as a transition year leading to significant revenue share contributions in 2025.
In an effort to strengthen its position in South America, Better Collective has made strategic moves, including the relocation of a management member to Brazil and the integration of Playmaker Capital’s South American business, “Futbol Sites”. This positions the company favorably as iGaming regulation progresses in Brazil.
The European market also saw robust growth, with successful acquisitions and integration of national sports media onto Better Collective’s tech platforms. This led to improved Google rankings and audience growth, further detailed in the report’s Tech Deep Dives.
A milestone achievement in 2023 was the acquisition of Playmaker Capital, significantly enhancing Better Collective’s presence across the Americas and aligning with its strategic goals. This acquisition, valued at €176 million, introduces over 200 million monthly visits and a substantial social media following into Better Collective’s portfolio, along with notable sports media brands and competencies.
Better Collective’s approach to business is deeply rooted in sustainability and ethical practices. The company prioritizes working in regulated markets, promoting safer gambling, and fostering a diverse and inclusive work environment. The collective effort and dedication of Better Collective’s team have been instrumental in achieving remarkable success, setting a positive trajectory for the future.
