Better Collective is off to a ‘strong and exhilarating start’ for 2021. Thanks to ‘record’ acquisitions and US regulatory developments, as the sports betting media group’s revenue grew 19% in Q1.
Better Collective announced its financial results for the three months ending March 31. It noted that revenue for the first quarter increased by 86% to €38.8m, up from €20.9m in Q1 2020. Also, publishing accounted for 61% of revenue, with Paid Media accounting for 31%.
Moreover, EBITDA for the period increased by 46%, from €9.05 million in 2020 to €13.2 million in 2021. Despite hitting an ‘all-time high,’ Better Collective explained that “revenue was negatively impacted by the switch from CPA to revenue share in the Paid Media segment, as well as the lower than average sports betting margin.”