The financial terms of the deal were not disclosed. However, Playmaker stated that the acquisition would support its growth plans in the US and help it reach a larger audience of English-speaking and Hispanic sports fans in the country.
The Sports Drop generates an average of over 30 million monthly page views and 200 million monthly ad impressions. Playmaker expects to add more than three million monthly users to its North American audience through this acquisition.
As part of the deal, Mike Bellom, the founder of The Sports Drop, will join Playmaker’s senior leadership team as the head of paid media.
Playmaker’s CEO, Jordan Gnat, explained that acquiring The Sports Drop aligns with their growth strategy of adding new skill sets and creating new opportunities for the business. He also mentioned that The Sports Drop’s engaged following of sports fans will complement Playmaker’s existing brands in the US, such as Yardbarker Media, Bolavip US, and Daily Faceoff.
Bellom expressed excitement about the collaboration with Playmaker, stating that combining forces will allow them to invest more resources in creating and distributing high-quality content for their loyal community of sports fans. He is also looking forward to working with talented individuals in the digital sports media space to further expand Playmaker’s successful network of digital properties.
This acquisition follows Playmaker’s previous acquisitions, which have contributed to substantial revenue growth in the fourth quarter of 2021. However, the company reported a net loss of $3.5 million for the financial year. In the fourth quarter, Playmaker’s revenue reached $7.0 million, compared to $4.8 million in the third quarter of 2021. It’s important to note that Playmaker’s sports betting vertical was launched in August 2021, in partnership with operators like BetMGM and Circa Sports.
