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“ Witnessing Betarades evolve from a dominant player in Greek sports media affiliation to a versatile multichannel sports media has been nothing short of inspiring ”
JESPER SØGAARD , BETTER COLLECTIVE also comes with “ a lot of recurring revenue ”, saying the deal “ aligns with Better Collective strategy of owning the full range of sports media across key regions spanning
traditional sportsbook comparison brands to general sports media , social media content creators , esports communities and beyond .”
MAKING THE CASE FOR M & A
In the CEO letter within the Q1 report , Søgaard highlighted the success it has enjoyed with Betarades , a Greece-focused affiliate provider that it bought in 2018 for € 4m . Better Collective said the brand – one of 10 domains which came with the acquisition of WBS – and the management team that came with it have “ consistently surpassed our expectations ”.
Notably , Søgaard added that co-founder of WBS , Kyriakos Fourniades , has since been “ instrumental ” not only in driving on Betarades but also in heading up Better Collective ’ s Southeast Europe operation .
Since being acquired , Betarades has “ grown exponentially ” and is now established as the “ leading sports media ” across the social platforms of YouTube and TikTok with a “ highly effective ” multichannel approach .
“ Multi-monetisation efforts coupled with an increase in recurring revenue share income have resulted in a remarkable fivefold revenue surge ,” Søgaard said .
The key to the success , the report went on to say , is that while Better Collective has assumed the bulk of the admin tasks , Fourniades and his team have been left to focus on what they do best , namely brand building , quality content production and commercialisation .
Moreover , the added value Better Collective brings in terms of global reach and performance marketing expertise has “ unlocked new opportunities that were previously inaccessible to Betarades .”
Søgaard concluded by saying that “ witnessing Betarades evolve from a dominant player in Greek sports media affiliation to a versatile multichannel sports media has been nothing short of inspiring .” He added : “ The journey of Betarades mirrors the journey Better Collective is currently on as a group , reinforcing our commitment to innovation and growth in the dynamic world of sports media .”
More recently , Better Collective completed the acquisition of Playmaker in February and the company will be hoping for a similar post-acquisition growth trajectory . “ We are already observing positive trends ,” Søgaard said on the call .
“ The cultural fit between our organisations is excellent and we see great opportunities to share knowledge across the teams .”
June 2024