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Sportradar Group AG - SRAD STOCK NEWS

Welcome to our dedicated page for Sportradar Group news (Ticker: SRAD), a resource for investors and traders seeking the latest updates and insights on Sportradar Group stock.

Sportradar Group AG (NASDAQ: SRAD) is a leading global sports technology company, founded in 2001, dedicated to transforming the sports, media, and betting industries through innovative data solutions and digital content. With a workforce of over 1,650 professionals spread across more than 30 locations, the company proudly serves over 1,000 clients in more than 80 countries.

Sportradar specializes in providing advanced technological solutions to a diverse client base, including media outlets, bookmakers, sports federations, and governmental authorities. The company's core business revolves around leveraging sports data powered by artificial intelligence to enhance user engagement and enable next-generation sports experiences.

One of Sportradar's flagship products is the Alpha Odds, an automated odds recalculation tool launched in 2022. This solution has been instrumental in delivering an average profit increase of 10% for its clients in 2023. Alpha Odds utilizes enhanced AI models to provide accurate predictions and real-time risk management, thereby improving trading efficiency by 11%.

In addition to its robust product offerings, Sportradar maintains strong partnerships with major sports organizations such as the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga. The company covers nearly a million events annually, ensuring comprehensive data and support for its clients.

Sportradar has also made significant strides in financial transparency and reliability. The financial reconciliation capabilities of Alpha Odds have been certified under the ISAE 3402 Type 1 standard by PwC, highlighting the accuracy and dependability of its computational methods.

Financially, Sportradar's revenue streams are primarily derived from subscription-based models and revenue-sharing agreements. The company's commitment to innovation and quality service is reflected in its ongoing projects and clientele satisfaction.

For more information about Sportradar Group AG, visit www.sportradar.com. The company continues to be a key player in driving the future of sports technology and data services.

News

Sportradar Elevates NBA League Pass Experience with emBET Integration

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Sportradar (SRAD) and the NBA partner to introduce advanced betting features in NBA League Pass, enhancing fan experience. The integration of emBET into the streaming service enables seamless access to sports betting content like point spreads and money lines, directing users to official betting partners FanDuel and DraftKings. This collaboration aims to revolutionize in-play betting and create personalized viewing experiences for NBA fans.
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Sportradar To Release Fourth Quarter And Full Year 2023 Financial Results On March 20, 2024

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Sportradar Group AG (SRAD) will release its Q4 financial and operating results on March 20, 2024. An earnings call via webcast will discuss the results at 8:30 a.m. ET. Access the webcast on Sportradar's Investor Relations website.
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Sportradar Announces Automated Odds Recalculation Tool, Alpha Odds, Boosted Client Profits by Average of 10% in 2023

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Sportradar (NASDAQ: SRAD) has achieved PwC ISAE 3402 Type1 certification for its Alpha Odds automated odds recalculation tool, resulting in a 10% average profit increase for clients in 2023. The tool, leveraging advanced artificial intelligence capabilities, allows operators to generate bespoke betting prices and adjust them in real-time to maximize trading efficiency. The financial reconciliation aspect of Alpha Odds has been independently certified by auditors PwC, providing clients with visibility of key processes.
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Sportradar Announces Additional Strategic Actions to Streamline Organizational Structure and Drive Growth and Innovation

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Sportradar Group AG (NASDAQ: SRAD) announced strategic actions to enhance focus on clients and partners, drive global innovation, and streamline its organizational structure. The new global organization and leadership structure aims to foster greater collaboration, faster decision making, and increased innovation across the business. The company reaffirmed its fiscal 2023 guidance and fiscal 2024 outlook, with revenue growth between 19% and 21% and Adjusted EBITDA growth between 29% and 33%. The new organizational structure consists of six business functions, with changes in key leadership positions. The company is also initiating a search for its next CFO.
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Sportradar Launches FanID Connecting Rightsholders and Brands with Sports Fans in a Post-Cookie World

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Sportradar (NASDAQ: SRAD) has launched Sportradar FanID, a first-party marketing solution featuring the first data clean room for the sports industry. This unique solution combines the company’s proprietary marketing activation technology to offer personalized fan engagement for brands and rightsholders in a post-third-party cookie world. The anticipated removal of third-party cookies in 2024 is compelling marketers to find alternative methods for collecting and leveraging data to connect with consumers. Sportradar FanID benefits rightsholders by providing a greater understanding of fans’ interests and purchase intent, while enhancing the value they provide sponsors. For brands, it facilitates scalable, direct engagement with fans through personalized, timely, and relevant ads. The process includes data collection, connection, activation, and orchestration, allowing for relevant and personalized digital advertising content to be served on a one-to-one basis. Rainer Geier, EVP, Fan Engagement at Sportradar, highlighted the significant opportunity for rightsholders and brands to gain a greater understanding of fans and to enable more efficient and seamless delivery of digital advertising content.
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Sportradar Launches “Future of Tennis Betting” with ATP

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Sportradar (NASDAQ: SRAD) and Tennis Data Innovations (TDI), a joint venture of ATP and ATP Media, have signed a multi-year agreement for global data and streaming rights for betting, and media data rights for all ATP Tour and ATP Challenger Tour events. The partnership aims to drive commercial growth for the sport and enhance fan engagement through new betting and media products. Sportradar's ATP Service+ will offer augmented streaming, expanded in-play betting markets, short-form video highlights, and personalized betting products, while also providing Integrity Services to safeguard competitions against betting-related match fixing and corruption.
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Sportradar Appoints Jim Bombassei as Senior Vice President, Investor Relations and Corporate Finance

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Sportradar (NASDAQ: SRAD) has appointed Jim Bombassei as Senior Vice President, Investor Relations and Corporate Finance. Based in New York, Bombassei will be responsible for building and maintaining relationships with the global investment community, overseeing the company's Corporate Finance function, and communicating the business model, long-term strategy, and financial performance.
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Sportradar Announces Participation In Upcoming Conferences

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Sportradar Group AG (SRAD) CFO Gerard Griffin to participate in UBS Global Media and Communications Conference and Morgan Stanley Global Consumer & Retail Conference in December 2023
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Sportradar To Participate In Needham Consumer Tech And E-Commerce Virtual Conference

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Sportradar Group AG (NASDAQ: SRAD) Announces CFO's Participation in Needham’s 3rd Annual Consumer Tech / E-Commerce Virtual Conference
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Sportradar Reports Third Quarter 2023 Results

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Sportradar Group AG (NASDAQ: SRAD) announced its financial results for the third quarter of 2023. The company reported a 12% increase in revenue, reaching €201.0 million. Adjusted EBITDA grew by 38% to €50.5 million. Sportradar also updated its annual outlook, projecting a revenue growth of 19% to 21% and Adjusted EBITDA growth of 29% to 33%. The company initiated a reduction in its global workforce as part of its strategic growth initiatives.
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FAQ

What is the current stock price of Sportradar Group (SRAD)?

The current stock price of Sportradar Group (SRAD) is $17.495 as of November 21, 2024.

What is the market cap of Sportradar Group (SRAD)?

The market cap of Sportradar Group (SRAD) is approximately 5.2B.

What is Sportradar Group AG?

Sportradar Group AG is a global sports technology company that provides data solutions and digital content to enhance the sports, media, and betting industries.

What does Sportradar specialize in?

Sportradar specializes in leveraging sports data powered by artificial intelligence to provide advanced technological solutions and enhance user engagement.

What is Alpha Odds?

Alpha Odds is an automated odds recalculation tool launched by Sportradar in 2022, which uses AI to predict game events accurately and improve trading efficiency.

Who are Sportradar’s primary clients?

Sportradar serves a diverse client base, including media companies, bookmakers, sports federations, and state authorities.

How many events does Sportradar cover annually?

Sportradar covers close to a million events annually across all major sports.

What are Sportradar’s main revenue sources?

Sportradar generates revenue primarily through subscription-based models and revenue-sharing agreements.

What certifications has Sportradar achieved?

Sportradar's Alpha Odds financial reconciliation capabilities have been certified under the ISAE 3402 Type 1 standard by PwC.

Who are some of Sportradar's partners?

Sportradar partners with major sports organizations such as the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga.

How many people does Sportradar employ?

Sportradar employs over 1,650 people in more than 30 locations worldwide.

Where can I find more information about Sportradar?

More information about Sportradar can be found on their website at www.sportradar.com.

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Sportradar Group AG

Nasdaq:SRAD

SRAD Rankings

#1280 Ranked by Market Cap
N/A Ranked by Dividends

SRAD Stock Data

5.21B
203.18M
2.22%
82.05%
1.51%
Software - Application
Technology
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United States of America
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