Catena Media has released its financial results for the fourth quarter and full year of the past year.
Catena Media reported €10.2 million or $10.5 million in revenue for the fourth quarter. This represents a year-on-year decrease of 30%.
The Rest of World segment dropped 41% to €1.27 million. North America declined 28% to €8.8 million. Every business segment experienced revenue losses. Yet, it was in sports where the affiliate saw the largest underperformance.
North America presented a particularly challenging operating environment. As a result, sports revenue in the fourth quarter dropped 54% to €2.51 million. Meanwhile, there were no state launches in the United States. The cancellation of media partnerships contributed to the drop in sports revenue. A reduction in operator spending on esports also played a role.
In the contrary, the casino segment saw revenue decrease 15% to €7.64 million. Google algorithm updates impacted revenue. The termination of media partnerships also played a role. Lower player engagement was another contributing factor.
This was valued at €1.51 million in the fourth quarter, looking at just EBITDA. It represents a 2% improvement compared to the fourth quarter of 2023. This also means adjusted EBITDA margin was up to 15%.
In the Rest of World, adjusted EBITDA fell 31% to €632,000. In contrast, North America saw a 4% increase to €4.55 million.
For now, the loss dropped from €38.4 million in Q4 2023 to €1.36 million in Q4 of the past year.
New depositing customers for the quarter totaled 25,806. It was down from 32,032 from the same period in 2023.
Catena Media set revenue at €49.6 million for the full year of 2024. It is a figure that is 35% lower than the one seen in 2023.
