AFFILIATE MONITOR : THREE QUESTIONS FOR THE SECTOR IN 2022 There are three questions pertinent to the future of the affiliate sector that will be decided in 2022 , writes Scott Longley , all of which revolve around the opportunities in the US
Will Catena Media seek a separate listing in the US ?
The growth in the US state-by-state market over the past three years has been the cause of intense activity in the affiliate sector , both in terms of M & A and listings . For Catena Media , the US state-by-state opportunity has helped the company overcome some of the recent challenges it has faced in its legacy markets in Europe , and particularly Germany .
On the face of it , Catena Media ’ s share price has responded well over the past 12 months , rising by 85 %. But as can be seen from the trajectory of the share price in the chart on the right , things arguably could have been a whole lot better .
The US is clearly the future for Catena Media . It is where the growth is and where the focus of its major customers lies . Importantly , though , it is also where the investor interest exists . Gambling . com ’ s listing in the US is one sign of the penny dropping . While that company ’ s earnings are still largely European – at least until the RotoWire acquisition starts contributing to its quarterly revenues – it clearly sees its future as being a US-facing company .
Meanwhile , we have also seen in acknowledged by Catena Media CEO Canada the listing of Playmaker which , Michael Daly in the company ’ s Q3 earnings again , while not being a wholly US-focused call . “ We are very seriously investigating business as yet , is certainly concentrating how to maximise the opportunities in on the affiliate opportunity in North and North America , including the investment Latin America . Then there is the deal which strategy ,” he said . “ We are exploring it .” has seen the similarly Canadian-listed That US investor base is the key here . FansUnite pivot at least in part towards A US-based , US-listed and US or North the affiliate sector via the merger with the American-focused affiliate business would newly forged American Affiliate . have obvious advantages when it comes
The potential of a US listing was to attracting investors interested in pure-
Catena Media share price over the last 12 months
Source : Google Finance
60 • ISSUE 89 • Q1 2022