In Q2, global sports technology company Sportradar set record revenue

On Tuesday, Sportradar’s Betting Technology and Solutions released their financial results for Q2. The company has now accounted for 82% of its revenue for two consecutive fiscal quarters. Additionally, Sportradar has seen a 30% year-over-year growth that helped propel them to a revenue of €278.4 million for the second quarter. Betting Technology and Solutions had revenue of €229.1 million while Sports Content, Technology & Services had €49.3 million. In Q2, Sportradar’s overall revenue jumped 29% compared to the numbers they saw in Q2 of 2023. They saw a spike of 59% in the United States alone. This was the third straight quarter that Sportradar had record-setting revenue. Chief Executive Officer Carsten Koerl had this to say.

“Our strong second quarter results, including another quarter of record revenues are a testament to the operating momentum we are generating across our business and the clear executive against our strategies to drive outperformance versus the market,” said Koerl. “We delivered robust growth across our high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow.”

What success has Sportradar seen in 2024?

Earlier this year, Sportradar announced its game-winning innovation was making its way to NBA League Pass. When that announcement happened, Sportradar’s Streaming & Betting Engagement segment increased by 41% year-over-year. Live Data and Odds revenue also grew by 27% in Q2. UEFA extended and expanded its partnership with Sportrarad in Q2 to cover all UEFA club and national team competitions. That includes over 900 high-profile matches. A 33% increase from the previous deal they had in place. Starting in 2024-25, Sportradar will be the only odds provider to distribute official data. Their new structure will also expand their exclusive betting data rights and integrity partnership to include non-exclusive rights to distribute data to non-betting media.

Sportradar started 2024 by announcing a new strategy to drive growth. Recent momentum has encouraged the company leadership to update its financial outlook for 2024. CEO Carsten Koerl said he is pleased with how his company is operating on all levels.