Catena Media Updates COVID-19 Impact

Catena Media has provided an update on the impact of COVID-19 on its business. The company has implemented several measures to mitigate any financial or operational impact and to ensure the well-being, safety and security of its employees and partners.

A majority of the company’s revenues, 59% in January and February 2020, were generated from the Casino segment. The segment has continued to perform well in March, with traffic being higher than average traffic in January and February 2020. Catena Media expects a continued positive development within the Casino segment during the second quarter.

A total of 35% of the revenues in January and February 2020 are generated from the Sports segment. Due to the halt of several sports leagues, and postponement of major events across the globe, Catena Media is working closely with key operators to promote Sports events that are still running. To mitigate the shortfall in Sports revenue, the focus is to increase the Casino business by converting traffic from a number of sports-related sites into Casino revenue and holding back on low-margin media spend.

In January and February, 5% of the revenues were generated from the Financial Services segment, which currently sees a positive traffic trend.

“The world is facing an unusual and challenging situation due to COVID-19. Catena Media’s largest business segment, Casino, represented 73% of EBITDA during January and February, is performing well and shows a positive development under the current circumstances. Several sport events have been cancelled or postponed, and it is uncertain for how long this will last, but we are holding back on costs and finding alternative revenue streams for the Sport segment. Provided that the sports events start up after the summer break, our target remains unchanged, to reach double-digit profitable growth in 2020,” Per Hellberg, CEO of Catena Media, said.