Sportradar grows revenues by 17 per cent in first quarter
Sportradar generated evenue for the first quarter of €311m, up €45m, or 17 per cent year-over-year, driven by 14 per cent growth in Betting Technology & Solutions and 33 per cent growth in Sports Content, Technology & Services.
Betting Technology & Solutions revenues of €250m were up 14 per cent year-over-year primarily driven by a 13 per cent increase in Betting & Gaming Content primarily from customer uptake of additional products and from US market growth. Managed Betting Services revenues were up 16 per cent driven by strong growth in Managed Trading Services from increased turnover and higher trading margins.
Sports Content, Technology & Services revenues of €61m increased 33 per cent year-over-year primarily driven by 36 per cent growth in Marketing & Media Services led by higher ad:s revenue as several sportsbooks increased spending on marketing campaigns, and from contributions from the expansion of our affiliate marketing capabilities.
The company generated strong revenue growth globally with Rest of World up 12 per cent and the United States up 31 per cent. As a percentage of total company revenues, United States revenue represented 28 per cent of total company revenue in the first quarter as compared to 25 per cent in the prior year quarter due to continued market growth and additional customer uptake of our products.
Customer Net Retention Rate of 122 per cent further demonstrates Sportradar’s ability to cross-sell and up-sell to its clients, as well as the market growth in the United States.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “We had a strong start to the year with record quarterly revenue as we delivered broad-based growth across our leading product suite and diverse global footprint, while expanding margins and cash flow. The continued momentum we are generating builds upon our success from last year, demonstrating the durability of our business and our mission critical role in the expanding sports ecosystem. During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG ARENA’s sports betting rights portfolio. We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond.”
