All Access

Media Deals

Media Deals Alerts

Alert

Standard

Media Deals Thought Bubble

Thought Bubble

mustard

BFD Expert Voices - Media Deals

BFD Expert Voices

Better Collective CEO Jesper Søgaard says after 35 acquisitions in nearly eight years, the sports media company is focused on pulling them all together.

Why it matters: The M&A pause comes after years of growing alongside the sports betting boom across markets, including the U.S.

Catch up quick: Better Collective is a digital sports media company with a collection of brands including U.S. sports betting analysis company Action Network, Canadian sports betting media brand Playmaker Capital and esports platform HLTV.org.

Incorporated in 2004, the Copenhagen-based company is dual listed on Nasdaq Stockholm and Nasdaq Copenhagen.

As part of its third-quarter earnings report last week, Better Collective announced it would let go of 300 employees, about 15% of its workforce.

The company lowered its revenue financial guidance to €355 million to €375 million, down from €395 million to €425 million. 

Zoom in: Speaking to Axios from Better Collective's New York office, Søgaard cited advertising volatility in the U.S. and Brazil as spurring the layoffs and slashed guidance. The lowered activity in Brazil comes ahead of expected regulation of the sports betting market in January. 

The company is now consolidating and integrating the 35 acquisitions it has completed since 2017, something that had not been a prior priority while operating in growth mode, Søgaard says.

Søgaard says Better Collective is not rushing to pursue more acquisitions in part because he sees little competition for potential targets, so waiting longer does not necessarily impede its chance of buying something.

"When I look at the M&A landscape and market in general, I feel it's probably more of a buyer's market," he says. "Because we are in this niche of digital sports media, there are not that many buyers."

What's next: Future acquisitions for Better Collective would be digital sports media brands that are leading in their geography or sport, Søgaard says. 

Søgaard says the company's footprint is predominantly in Europe, North America and South America and that the company is interested in acquisitions there or in some of its newer markets like India.

Editor's note: The story was updated to correct the spelling of the CEO's surname. 

Better Collective CEO Jesper Søgaard on M&A strategy

The sports media company has acquired 35 brands since 2017.

Photo illustration of Jesper Søgaar collaged with the logo of Better Collective.

Jesper Søgaard. Photo illustration: Axios Visuals. Photo: Courtesy of Better Collective

Sports betting

Better Collective CEO Jesper Søgaard says after 35 acquisitions in nearly eight years, the sports media company is focused on pulling them all together.Why it matters: The M&amp;A pause comes after years of growing alongside the <a class="gtmContentClick" data-vars-link-text="sports betting boom" data-vars-click-url="https://www.axios.com/pro/media-deals/2024/09/26/flutter-investor-day-fanduel" data-vars-content-id="2a552623-3e75-49d1-b395-0122a2015caa" data-vars-headline="Better Collective CEO Jesper Søgaard on M&amp;A strategy" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2024/09/26/flutter-investor-day-fanduel" target="_self">sports betting boom</a> across markets, including the U.S.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

c-suite

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

boulder

detroit

kansas-city

columbus

austin

dallas

atlanta

washington-dc

nw-arkansas

chicago

indianapolis

nashville

richmond

colorado-springs

houston

san-francisco

seattle

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

huntsville

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

Better Collective CEO Jesper Søgaard on M&A strategy

What to read next