Record Q2 helps Catena grow first half revenue

Record Q2 helps Catena grow first half revenue

Affiliate group Catena Media’s revenue came to €54.5m (£49.1m/$65.1m) for the first half of 2020, up 9.3%, thanks to a stellar second quarter performance in which organic search revenue grew strongly as casino mitigated the suspension of sporting events.

Published 20th August 2020

Of Catena’s total revenue for six months to 30 June, revenue from organic search made up the majority at €49.8m, up 19.0%. Catena chief executive Per Hellberg said organic search was impacted by an update to Google’s algorithm, which had a negative effect on some brands, but a positive effect on others, especially in the US.

Paid search revenue, meanwhile, was down 38.4% to €3.9m while subscription revenue fell 53.4% to €814,000.

This revenue growth came despite a decline in sports betting revenue due to the suspension of global sport, as casino “readily took up the slack”, according to Hellberg. In addition, the chief executive noted that Catena’s flagship AskGamblers brand had its “best month ever” in April, with May “not far behind”.

In addition, Catena’s financial services brand, AskTraders, saw three-digit revenue growth, while its Japanese business also performed well.

Read the full story on iGB.