Sportradar Group, a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, generated record revenue of €278m, up 29 per cent year-over-year for its second quarter ended June 30, 2024.
Betting Technology & Solutions revenues were €229.1m, up 30 per cent year-over-year, and Sports Content, Technology & Services revenues were €49.3m, up 22 per cent year-over-year. The company delivered strong revenue growth globally with Rest of World up 22 per cent and the US was up 59 per cent. The current quarter generated a loss of €1.5m compared to a de minimis profit for the same quarter last year.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “Our strong second quarter results, including another quarter of record revenues are a testament to the operating momentum we are generating across our business and the clear execution against our strategies to drive outperformance versus the market. We delivered robust growth across our high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow. I am pleased to once again raise our full year guidance as we continue to build long-term shareholder value through strong topline growth, a focus on delivering additional operating leverage and increasing cash flow generation.”
The company saw 46 new customers sign up for MTS year-to-date, which will bring total customers to over 200 worldwide, expanding coverage in fast growing sports betting territories including Latin America & Africa.
UEFA and Sportradar extended and expanded partnership. The expanded agreement covers all UEFA Club and National team competitions, over 900 high-profile matches, a 33 per cent increase from the previous relationship. The agreement also expands its existing, exclusive betting data rights and Integrity partnership to include non-exclusive right to distribute data to non-betting media.
Sportradar also announced the launch of ad:s for audio and an enhanced digital-out-of-home offering, expanding the reach of the company’s leading marketing services to podcasts, streaming services, internet radio and over 600,000 digital outdoor screens across move than 100 countries.
It also launched industry-first social media video ads featuring live sports and betting data. Initially launched across Meta’s social media platforms, Sportradar’s proprietary technology creates and delivers tailored social media video advertisements, which update in real-time to reflect betting market movements, including live odds, as well as casino games and jackpot value, to aid customer retention and drive revenue.
