The Copenhagen-based gaming giant Better Collective is making a significant push into the North American market with the purchase of Playmaker Capital, a digital sports media firm headquartered in Toronto. This strategic maneuver considerably broadens Better Collective’s presence in the Americas and strengthens its worldwide expansion plan.
This agreement follows closely on Better Collective’s July 2023 acquisition of Playmaker HQ, a sports and entertainment media platform commanding an audience exceeding 20 million followers across its various channels. This purchase alone granted Better Collective entry to a vast network of American sports enthusiasts. Evidently, they are committed to establishing themselves as a recognized brand in the US. In tandem with their growth trajectory, they recently appointed Pernille Holbøll to spearhead their initiatives in AI, editorial material, and innovation.
Playmaker Capital itself possesses an impressive collection of sports media brands, including names like Futbol Sites, Yardbarker, and The Nation Network (TNN), engaging more than 200 million sports fans throughout the Americas each month.
This action is a logical progression given Better Collective’s robust financial standing. Their Q2 2023 earnings statement revealed revenue soaring to €78.1 million (US$83.4 million), marking a 39% surge year-on-year. Their profitability metrics are equally promising, with Q2 2023 EBITDA hitting €27.5 million, a remarkable 115% increase year-on-year.
Jesper Søgaard, co-founder and CEO of Better Collective, was unequivocal about the deal’s importance, characterizing it as “a pivotal stride for Better Collective in its quest to become the preeminent digital sports media conglomerate globally.”
The transaction, anticipated to be finalized by the close of Q1 2024, hinges on customary regulatory and stakeholder green lights. Moelis & Company is providing financial counsel to Better Collective, while legal heavyweights Stikeman Elliott, Bech-Bruun Law Firm P/S, and Greenberg Traurig are also lending their expertise. PwC is managing the accounting and tax implications of the agreement.
