Catena Media reports record revenue and earnings in first quarter

| By Robert Fletcher
Affiliate business Catena posted record revenue and earnings in the first quarter of its 2021 financial year after what it described as an “exceptional” performance in North America and other key global markets.

Revenue for the three months to 31 March amounted to €40.7m (£35.1m/$49.8m), which was 52.4% higher than the €26.7m generated in the opening quarter of last year.

Search revenue in Q1 totalled €38.4m, up 60.7% on last year, though paid revenue was down 3.0% to €2.3m, while Catena did not generate any revenue from subscriptions in Q1 of 2021. 

In terms of business segment, casino remained by far the primary source of income for Catena in Q1, accounting for 62% of all revenue, ahead of sports betting on 35% and financial trading at 3%.

Revenue from casino operations climbed 53.7% year-on-year to €25.2m, helped by positive developments in the US, Italy and Japan. In the US in particular, the opening of Michigan’s legal online casino market contributed to revenue growth, while new operator launches in Pennsylvania during Q4 of 2020 also drove growth.

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