iGB-Affiliate-Monitor_OCTOBER-2021 - Page 15

CATENA MEDIA SECOND QUARTER REVIEW
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CATENA MEDIA SECOND QUARTER REVIEW
DEEP DIVE
Catena Media saw second quarter revenues rise 9 % year-on-year to € 30.4m . However , quarter-onquarter revenues fell by more than 25 % while EBITDA , which was up 14.6 % year-on-year , tumbled by 36.1 % sequentially to € 14.9m .
While the company stressed that the tail-off in the second quarter was due to seasonality in sports , it is worth making the point that rival Better Collective ( which is more heavily sports-biased in terms of revenues ) still managed a 3 % rise quarter-on-quarter .
Like its main rival , Catena Media now breaks out its US revenues
and these figures at least were more positive . Revenue in the North American segment rose 37 % year-on-year to € 12.4m , or 41 % of total revenues , but sequentially , the picture looks less impressive . In the first quarter revenues from the US hit € 22.3m , hence the sequential fall was nearly 45 %.
Chart 5 : Catena Media revenue progression Q319-Q221 (€ m )
45
40 40.7
35
30
25
26.4 26.6 26.7
27.8
24.9
26.6
30.4
€ m
20
15
10
5
0 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221
Source :: Company company reports
October 2021