Sportradar, a leading global provider of sports data intelligence, announced a 24% increase in revenue for the first quarter of 2021, earning $226.2 million. This growth is attributed to the company’s expansion into new markets and the continued demand for its services.

Sportradar’s revenue growth was driven by its core business of providing data and analytics to sports betting operators, media companies, and sports organizations. The company’s data feeds cover over 750,000 sporting events each year, including major leagues such as the NFL, NBA, and MLB.

In addition to its core business, Sportradar has been expanding into new markets, including esports and sports streaming. The company recently signed a deal with the Asian Football Confederation to provide data and video content for its competitions, and it has also partnered with major streaming platforms such as Twitch and YouTube.

Sportradar’s CEO, Carsten Koerl, commented on the company’s Q1 performance, stating that “our strong start to the year reflects the continued demand for our products and services across the sports ecosystem. We remain focused on delivering innovative solutions that help our customers make better decisions and engage with fans in new and exciting ways.”

The company’s growth is also reflected in its recent decision to go public through a merger with Horizon Acquisition Corporation II, a special purpose acquisition company (SPAC). The deal values Sportradar at $10 billion and is expected to close in the second quarter of 2021.

Sportradar’s success is a testament to the growing importance of sports data and analytics in the sports industry. As more organizations seek to leverage data to improve performance and engage with fans, companies like Sportradar are well-positioned to capitalize on this trend.

Looking ahead, Sportradar is expected to continue its expansion into new markets and invest in new technologies to enhance its offerings. With the sports industry undergoing rapid transformation, the company’s ability to innovate and adapt will be key to its continued success.