Better Collective, a Copenhagen, Denmark-based digital sports media group, acquired Playmaker HQ, a sports and entertainment media platform headquartered in South Florida, US.
Better Collective will pay up to 54 mUSD on a cash and debt free basis, including an upfront cash consideration of 15 mUSD, 1 mUSD in deferred payments, and up to 38 mUSD in performance-based earnout payments over a three year period.
Led by Brandon Harris, CEO, Playmaker HQ is a sports and entertainment media platform which specializes in providing original entertainment and sports content with exclusive athlete collaborations and creator talent mainly targeting the US market. Currently, the company distributes more than two thousand monthly pieces of sports content mainly on Instagram, TikTok, Twitter, Snapchat, and YouTube. The group has more than 20 million followers across these platforms, increasing from seven million in 2020. Monthly, the content reaches over 500 million users. Playmaker has partnered with a wide variety of top brands including leaders in the sports apparel and fast moving consumer goods industries.
The company is experiencing rapid growth, and is targeting full year revenue of >10 mUSD in 2023 with an EBITDA-margin of 20-25%. In order to reach the full earn-out payment, Playmaker HQ will have to generate >75 mUSD in accumulating revenues and >25 mUSD in accumulating operational earnings (EBITDA) during the first three years post acquisition. Better Collective will consolidate Playmaker HQ into its accounts effective July 3, 2023. The group’s 2023 financial targets will remain unchanged.
Better Collective owns and operates international and local sport communities and media that aim to make sports entertainment sustainably engaging and fun. Through its online media, the Group provides prime quality content, data insights, betting tips and educational tools for enthusiastic sports fans all over the world. Headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO), Better Collective’s portfolio includes; Action Network, VegasInsider.com, HLTV.org, FUTBIN.com, Betarades.gr and bettingexpert.com.
FinSMEs
05/07/2023