Sportradar’s listing on the Nasdaq Stock Exchange in September was a significant moment in its 20-year history. However, chief executive Carsten Koerl believes that the true transformational moment came in March 2020 when the global pandemic halted live sports and Sportradar had no live data to provide its clients. In response, the company quickly developed Simulated Reality using artificial intelligence and machine learning to replicate sporting events. This innovation created a new revenue stream for Sportradar during the shutdown.
Koerl emphasizes the importance of innovation and forward-thinking in the sports and entertainment sector. Sportradar operates in three key verticals: Sports Solutions, which provides analytics for collegiate and professional sports; betting and gaming, including systems and trading services; and Sports Entertainment Services, which enhances the fan experience through technology. The acquisition of Synergy Sports in March 2021 added data and video analytics capabilities to Sports Solutions.
Sportradar also focuses on providing fans with improved access to sports through deep understanding of their needs and habits. The company believes there is an opportunity to drive engagement by offering dynamic content, combining over-the-top (OTT) platforms with highlight clips.
Underpinning Sportradar’s operations is its Integrity Services, which tracks leagues and competitions for potential corruption. The company strongly believes in the importance of integrity in sports and offers integrity services and products to leagues, federations, and government agencies worldwide.
Sportradar straddles the sports and media sectors, with a particular emphasis on the sports betting market, which is estimated to reach a value of $80 billion within ten years. The company sees tremendous potential in markets around the world, especially in countries like China and India. While market consolidation may be a concern for some, Koerl sees continued growth in the sports betting industry, with the US market still in its early stages.
In terms of mergers and acquisitions (M&A), Sportradar takes a strategic approach, considering long-term growth and focusing on businesses with artificial intelligence capabilities. The company is also interested in sports advertising, particularly in the US market. Sportradar analyzes potential targets and constantly evaluates how they could fit into its overall strategy.
Looking ahead, Sportradar plans to expand its presence in India, similar to its early moves in the US sports betting market. The company has been investing in tier one cricket rights and acquiring analytical solutions for cricket.
Carsten Koerl remains passionate about the work he does and has a clear vision for the future of Sportradar. As long as he finds it fulfilling and believes he is contributing, he intends to stay in the business and continue driving the company’s success.
