Starship Troopers: Better Collective Reports Stellar FY22
Powered by the Qatar World Cup and keen corporate strategy, super media Affiliate Better Collective has reported a stellar FY2022, with revenue up 52 percent, year-on-year, to €269.3 million (£237.06m/US$285.43m) and net profit of €48.1 million after tax (£42.34m/US$50.98m), compared to 2021’s €17.3 million (£15.22m/US$18.33m).
Q4, for example, saw the Swedish-origin company generating 580,000 new delivering customers (NDCs)–300,000 during the World Cup, alone–for its partner sportsbooks; an increase of nearly 120 percent, y-o-y.
“To put it into perspective, the 300,000 is more than the last four men’s World Cups and four men’s European Championships combined,” said Better Collective (BC) CEO and Co-founder Jesper Søgaard.
“Compared to the men’s World Cup 2018, our key figures have increased tenfold, a testament to how far we have come in just four years.”
BC’s revenue for the quarter registered €52 million (£45.77m/US$55.11m), a rise of 59 percent; while EBITDA clocked €21 million (£18.48m/US$22.25m).
Following its 2021 acquisition of Action Network, BC realised its stated headline goal of generating more than US$100 million in US revenue last year (£83.05m/€94.34m).
The company–which operates across a diverse range of media products, embracing betting, esports, iGaming, sports and content partnerships with London’s Daily Telegraph Group and the New York Post–has now set a revenue target of around €300 million for 2023 (£264m/US$317.97m) and EBITDA–before special items–in the region of €100 million (£88.12m/US$105.9m).
“This year will expectedly have fewer large single events than 2022,” continued Søgaard.
“[So] we will continue our growth efforts in LatAm and keep an eye out for new market opportunities.”
[Ed: Better Collective bought Canada Sports Betting in March last year for €21.4 million (£18.83m/US$22.68m) and esports brand Futbin for €105 million (£95.43m/US$111.28m) the following month].
“We will keep focusing on gearing our business for the future, which includes investing in a new AdTech platform and moving more US revenue to revenue-share contracts,” added the BC leader.
With 870 employees around the world and counting, the NASDAQ-Stockholm-listed company continues its starry trajectory.