Sportradar revenue rises 30% in 2022 on World Cup and U.S. expansion, with upbeat outlook for this year

Sportradar revenue rises 30% in 2022 on World Cup and U.S. expansion, with upbeat outlook for this year

Article brief provided by Sportico
  • Brendan Coffey, Sportico
March 15, 2023 8:11 PM
  • Brendan Coffey, Sportico

Sportradar Group revenue rose 30% in 2022 to €730.2 million ($781.3 million), benefitting from gains in U.S. sports betting and World Cup-assisted strength throughout the rest of the world. The results, announced Wednesday morning, slightly exceeded a raised forecast by the company given after the third quarter.

“We delivered on what we promised, and that’s very important for me and the whole team,”” Sportradar CEO Carsten Koerl said on a video call. “It was not an easy year to deliver on what we gave as guidance.”

In particular, the company had to relocate some operations due to Russia’s invasion of Ukraine, while double-digit war-related inflation spiked employee costs in European countries, including Estonia, Koerl said.