Catena Media is launching a strategic cost reduction programme to strenghten its financial performance and solidify its foothold in both the North American and Latin American markets. This move comes in the form of a strategic content and commercial alliance with The Sporting News and evolving market dynamics and the company’s commitment to optimise its resources.

Commercial alliance with The Sporting News

The newly signed three-year partnership with US sports publisher The Sporting News will see Catena Media create editorial and advertorial content as an exclusive partner of choice. The collaboration centres primarily on the US, where The Sporting News boasts a nationwide presence and captivates a diverse audience drawn from an array of sports – spanning college athletics, basketball, football, hockey, motorsports, golf, tennis, and boxing.

This partnership extends its reach to encompass select countries in Latin America, specifically Mexico, Argentina, and Brazil. By venturing into these dynamic markets, Catena Media’s aspiration is to expand beyond the confines of North America, capitalizing on the surging appetite for online sports betting and casino gaming in these regions.

The terms of this agreement mandate Catena Media to conceive and deliver bespoke digital content tailored for sports enthusiasts, casino aficionados, and fantasy sports devotees. This content will be seamlessly interwoven into The Sporting News’ digital ecosystem, adding depth to the platform’s offerings and providing users with a comprehensive choice of informative and captivating content.

Core media partnership

Ryan Harper, Vice President of North America for Catena Media, lauded the affiliation, stating, “The Sporting News boasts a storied legacy in the realm of US sports publishing, and we are elated to welcome them as a core media partner. Their robust monthly user base of nearly 45 million users furnishes us with a sizable audience, empowering us to directly rival some of the most eminent sports publishing entities across the globe.”

Shaun Koiner, Chief Operating Officer of The Sporting News, shared Harper’s enthusiasm, asserting, “The Sporting News’ fervent commitment to delivering top-tier sports content finds a perfect counterpart in Catena Media’s expertise. Our goals have seamlessly aligned since the outset, and we are genuinely thrilled to explore the horizons this partnership holds, not solely within the US but as we cast our gaze towards international expansion.”

This strategic partnership aligns with Catena Media’s financial strategy to intensify its focus on the North American online sportsbook and casino affiliate verticals. In the first quarter of 2023, North American revenue experienced a marginal 2 percent downturn.This totalled to €28.9 million, representing 83 percent of the total group revenue.

This development follows Catena Media’s recent announcement of ambitious financial objectives, with the aim of boosting North American market revenue to an impressive $125 million by 2025. This projection indicates a coumpound annual organic growth of 12 percent from the current year.

Presently, shares of Catena Media plc (CTM.ST) are trading at SEK23.40, reflecting a gain of 1.92 percent.