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Chart 3 : Catena Media NDCs Q122-Q423
220,000 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0
171,918
135,812
116,748
84,651
113,294
49,770
45,000
32,000
Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423
Chart 4 : Catena Media revenue Q122-Q423
50 |
45 |
45.2 |
40 |
35 |
36.2 |
32.3 |
30 25 20 |
28.9 |
27.4 |
16.9 |
15 10 5 0 |
13.3 |
14.5 |
Q122 |
Q222 |
Q322 |
Q422 |
Q123 |
Q223 |
Q323 |
Q423 |
Source : company reports
“ even more critical ” as Catena is moving towards a revenue sharebased business model .
In part the effort was being made with potential changes to the Google algorithms in mind .
“ We are very cognisant of Google and its search engine requirements and its search engine understanding of AI ,” he said . “ It is still a moving target with Google . So , part of the MVP is to make sure we are doing things in a positive fashion from our Google rankings perspective .
“ It is a work in progress . We are very conscious of potential negative impacts of it but do expect fully positive impacts from the AI investment .”
NDCS DECLINE
Addressing the issue of the fall in NDCs seen at Catena Media in the past year or more , Daly said the company was trying to “ focus on the higher value ” NDCs that it delivered to its operators .
“ We ’ ve seen a drop in our NDCs in total in part [ due to the lack of ] state launches as well as our competitive underperformance ,” he explained , before adding that his “ interpretation of the data ” was that Catena was targeting highervalue NDCs . But he then admitted it was “ hard for us to say because we do not see the actual deposits of any players as it is managed by the operators .”
A RETURN ON INVESTMENT
Daly said he hoped the new developments and initiatives would be among the drivers which would help “ propel ” the company towards a return to organic growth in the second half .
Propel it back because , of course , Catena went backwards in the fourth quarter and , indeed , across the whole of 2023 . Revenue from continuing operations dropped 41 % in the last three months of the year , helping to drag revenues from the same continuing operations down by 22 % year-on-year in the past 12 months .
What will have dismayed investors – and likely contributed to the fall of Daly – was the poor performance from the North American operations which were down 43 % to € 12.3m . Chief financial officer Erik Edeen said the decline
April 2024