Sportradar Group AG (SRAD): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la tecnología deportiva, Sportradar Group AG (SRAD) surge como una potencia transformadora, revolucionando cómo los datos deportivos impulsa el entretenimiento global, las apuestas y el análisis. Al aprovechar las tecnologías de vanguardia y una amplia red de ideas deportivas, esta compañía innovadora se ha posicionado en la intersección de datos, deportes e innovación digital, ofreciendo un valor sin precedentes para ligas, compañías de medios, operadores de apuestas y fanáticos de todo el mundo. Su lienzo de modelo de negocio único revela un ecosistema sofisticado que convierte los datos deportivos en bruto en inteligencia estratégica, creando múltiples flujos de ingresos y redefiniendo el panorama de la tecnología deportiva.

Sportradar Group AG (SRAD) - Modelo de negocios: asociaciones clave

Ligas y federaciones deportivas

SportRadar tiene asociaciones de datos oficiales con:

Liga/federación	Detalles de la asociación
NFL	Derechos de datos exclusivos desde 2015
NBA	Proveedor de datos oficial desde 2013
FIFA	Socio de transmisión y datos globales

Proveedores de datos y socios de tecnología

Las colaboraciones de tecnología clave incluyen:

• Microsoft Azure Cloud Infrastructure Partnership
• Acuerdo de procesamiento de datos de Amazon Web Services (AWS)
• Oracle Database and Analytics Solutions

Operadores de apuestas y plataformas de juego

Pareja	Alcance de la asociación
BET365	Integración de datos deportivos en tiempo real
Drogadictos	Servicios integrales de datos de apuestas deportivas
William Hill	Gestión global de alimentos y riesgos de datos

Compañías de medios y emisores

• Asociación de contenido de ESPN
• Sky Sports Data Collaboration
• Servicios de datos de transmisión de Dazn

Proveedores de servicios en la nube e infraestructura

Las asociaciones de infraestructura incluyen:

Proveedor	Tipo de servicio
Google Cloud	Aprendizaje automático y procesamiento de datos
Nube de IBM	Infraestructura de análisis avanzado

Sportradar Group AG (SRAD) - Modelo de negocio: actividades clave

Recopilación y análisis de datos deportivos

SportRadar recopila datos de más de 550,000 eventos en vivo anualmente en más de 70 deportes a nivel mundial. La compañía emplea más de 1.300 coleccionistas de datos y usa Tecnologías de seguimiento en tiempo real.

Métricas de recopilación de datos	Volumen anual
Eventos deportivos en vivo	550,000+
Deportes cubiertos	70+
Recolectores de datos	1,300+

Soluciones de apuestas deportivas en tiempo real

SportRadar ofrece soluciones de apuestas a más de 200 operadores en 120 países, generando $ 612.3 millones en ingresos relacionados con las apuestas en 2022.

• Más de 200 operadores de apuestas atendidos
• 120 países cubiertos
• $ 612.3 millones de ingresos relacionados con las apuestas (2022)

Tecnologías avanzadas de visualización de datos

Desarrolla plataformas de visualización que procesan 3.5 millones de puntos de datos por partido con una precisión del 99.9%.

Aprendizaje automático y modelado predictivo

Invirtió $ 78.2 millones en I + D durante 2022, centrándose en las tecnologías de IA y aprendizaje automático.

Inversión de I + D	Cantidad
Gastos anuales de I + D	$ 78.2 millones

Distribución de contenido deportivo global

Distribuye el contenido a más de 1,200 clientes de medios en todo el mundo, cubriendo los derechos de transmisión para múltiples ligas deportivas.

• 1,200+ clientes de medios
• Red de distribución de contenido global

Sportradar Group AG (SRAD) - Modelo de negocio: recursos clave

Plataforma de análisis de datos deportivos patentados

A partir de 2024, los procesos de plataforma patentados de SportRadar 3.7 millones de eventos en vivo anualmente En más de 85 disciplinas deportivas y de deportes electrónicos. La plataforma maneja Más de 1.2 petabytes de datos por año.

Métrica de plataforma	Valor cuantitativo
Eventos en vivo anuales procesados	3.7 millones
Disciplinas deportivas/de deportes electrónicos cubiertos	85+
Volumen de datos anual	1.2 petabytes

Datos deportivos extensos y bases de datos estadísticas

Sportradar mantiene Datos históricos que abarcan más de 30 años en múltiples categorías deportivas.

• Cobertura de más de 750,000 partidos/eventos anualmente
• Recopilación de datos en tiempo real de más de 350 ligas globales
• La base de datos contiene más de 500 millones de registros deportivos históricos

Algoritmos avanzados de IA y aprendizaje automático

La compañía invierte € 78.2 millones anuales en I + D centrado en el desarrollo algorítmico.

Categoría de inversión ai/ml	Gasto anual
Investigación & Desarrollo	78,2 millones de euros
Ingenieros de aprendizaje automático	127 especialistas

Red global de recolectores de datos deportivos

Sportradar opera un Red mundial de recopilación de datos con una distribución geográfica precisa.

• Más de 5,000 recolectores de datos en el sitio a nivel mundial
• Cobertura en 190 países
• Infraestructura de transmisión de datos en tiempo real

Talento técnico y experiencia en ciencia de datos

A partir de 2024, SportRadar emplea 2,300+ profesionales técnicos.

Categoría profesional	Número de empleados
Científicos de datos	412
Ingenieros de software	876
Personal técnico total	2,300+

Sportradar Group AG (SRAD) - Modelo de negocio: propuestas de valor

Informes integrales de datos deportivos en tiempo real

SportRadar proporciona cobertura de datos deportivos en tiempo real para más de 85,000 eventos anuales en más de 70 deportes en todo el mundo. La compañía rastrea 1,5 millones de eventos en vivo por año con recopilación de datos en más de 500 leguas y competiciones.

Métrica de cobertura de datos	Volumen anual
Total de eventos en vivo	1.5 millones
Ligas deportivas cubiertas	500+
Eventos deportivos anuales	85,000

Gestión de riesgos de apuestas y apuestas avanzadas

Proceso de soluciones de gestión de riesgos de Sportradar sobre 250 mil millones de transacciones de apuestas anualmente, utilizando una detección algorítmica avanzada para un posible fijación de partidos y patrones de apuestas sospechosas.

• Detección de más de 5,500 partidos sospechosos por año
• Prevención de fraude en tiempo real en más de 180 países
• 99.7% de precisión en la identificación de riesgos

Tecnologías de compromiso de ventiladores mejorados

SportRadar ofrece soluciones de participación de los fanáticos que alcanzan 1.300 millones de fanáticos deportivos en todo el mundo a través de plataformas digitales y redes de distribución de contenido.

Métrico de compromiso	Alcance anual
Fans globales de deportes	1.300 millones
Interacciones de plataforma digital	5.200 millones

Rendimiento predictivo y análisis estadístico

Sportradar genera más de 3,5 millones de modelos predictivos anualmente, proporcionando ideas estadísticas avanzadas para equipos deportivos, emisoras y operadores de apuestas.

• 3.5 millones de modelos de rendimiento predictivo
• Algoritmos de aprendizaje automático con una precisión del 92%
• Puntos de datos rastreados por evento deportivo: 1,200+

Soluciones de monetización de contenido deportivo global

SportRadar genera € 719 millones en ingresos para 2022, con soluciones de monetización de datos deportivos que atienden a más de 1.100 clientes en 120 países.

Métrica de monetización	Valor anual
Ingresos totales (2022)	719 millones de euros
Clientes globales	1,100+
Países atendidos	120

Sportradar Group AG (SRAD) - Modelo de negocios: relaciones con los clientes

Acuerdos de servicio de datos personalizados

Ofertas de Sportradar Acuerdos de servicio de datos personalizados En múltiples segmentos deportivos:

Segmento de clientes	Nivel de servicio	Valor anual del contrato
Ligas deportivas profesionales	Paquete de datos premium	$ 750,000 - $ 2.5 millones
Operadores de apuestas	Feeds de datos en tiempo real	$ 350,000 - $ 1.2 millones
Compañías de medios	Análisis avanzado	$250,000 - $900,000

Soporte técnico y asistencia de integración

SportRadar proporciona soporte integral de integración técnica:

• Equipo de soporte técnico global 24/7
• Ingenieros de integración dedicados
• Documentación de API y entornos de sandbox
• Tiempo de respuesta promedio: 17 minutos

Actualizaciones de rendimiento y análisis regulares

Actualización de frecuencia	Puntos de datos cubiertos	Precisión de cobertura
Actualizaciones en tiempo real	Más de 50 deportes	99.8% de precisión
Informes de rendimiento semanales	Métricas de rendimiento avanzadas	100% integral

Gestión de cuentas dedicada

Estructura de gestión de cuentas:

• 1 administrador de cuentas dedicado por valor de contrato de $ 500,000
• Reuniones trimestrales de revisión comercial
• Estrategia de participación personalizada

Servicios de consulta de tecnología

Tipo de consulta	Alcance del servicio	Costo de consulta promedio
Arquitectura de datos	Soluciones de integración personalizadas	$75,000 - $250,000
Consultoría de aprendizaje automático	Desarrollo de análisis predictivo	$100,000 - $350,000

Sportradar Group AG (SRAD) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2023, SportRadar empleó aproximadamente a 1,900 profesionales de ventas a nivel mundial. El equipo de ventas directas generó $ 612.7 millones en ingresos durante el año fiscal 2022.

Tipo de canal de ventas	Contribución de ingresos	Cobertura geográfica
Ventas empresariales	$ 287.4 millones	35 países
Ventas de mercado medio	$ 195.6 millones	22 países
Gestión de cuentas estratégicas	$ 129.7 millones	18 países

Plataformas digitales en línea

SportRadar opera múltiples plataformas digitales que sirven a más de 400 operadores de apuestas deportivas en todo el mundo.

• Usuarios de la plataforma digital: 1.2 millones de usuarios activos mensuales
• Puntos finales de integración de API: 127 canales únicos de integración de datos
• Tiempo de actividad de la plataforma: 99.97% de confiabilidad

Conferencias de tecnología deportiva

Sportradar participó en 18 conferencias internacionales de tecnología deportiva en 2022, generando $ 42.3 millones en oportunidades de negocios directos.

Asociaciones estratégicas

Categoría de socio	Número de socios	Valor de asociación anual
Ligas deportivas	75	$ 156.8 millones
Empresas tecnológicas	42	$ 87.5 millones
Organizaciones de medios	63	$ 112.6 millones

Integraciones de API basadas en la web

SportRadar proporciona más de 1,200 alimentos de datos en tiempo real en más de 70 deportes.

• Total de clientes de API: más de 850 clientes globales
• Transacciones diarias de API: 3.200 millones
• Tiempo de respuesta promedio de API: 12 milisegundos

Sportradar Group AG (SRAD) - Modelo de negocios: segmentos de clientes

Operadores de apuestas deportivas

Sportradar sirve a más de 1.200 operadores de apuestas deportivas a nivel mundial, incluidas las principales compañías como Bet365, William Hill y Draftkings.

Tipo de cliente	Número de clientes	Cobertura del mercado
Operadores de apuestas globales	1,200+	Más de 80 países
Compañías de apuestas de nivel 1	150+	Mercados europeos y norteamericanos

Ligas deportivas profesionales

SportRadar proporciona datos y servicios a más de 250 ligas deportivas profesionales en todo el mundo.

Tipo de liga	Número de leguas	Deportes cubiertos
Ligas profesionales	250+	Fútbol, ​​baloncesto, tenis, hockey sobre hielo
Asociaciones de las Grandes Ligas	50+	NFL, NBA, NHL, UEFA

Medios y compañías de transmisión

SportRadar admite más de 500 organizaciones de medios con datos deportivos y contenido deportivos en tiempo real.

• ESPN
• Sky Sports
• BBC Sport
• Dazn

Empresas de análisis deportivo

Proporciona soluciones de datos avanzadas a más de 100 compañías de análisis deportivo.

Servicio de análisis	Número de clientes	Puntos de datos procesados
Análisis avanzado	100+	300 millones+ puntos de datos diariamente

Plataformas de entretenimiento digital

Sirve más de 200 plataformas de entretenimiento digital con contenido y datos relacionados con el deporte.

• Plataformas de juego
• Servicios de transmisión
• Plataformas deportivas de fantasía
• Desarrolladores de aplicaciones móviles

Sportradar Group AG (SRAD) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica de Sportradar para 2023 fueron de aproximadamente $ 45.2 millones. Esto incluye:

• Gastos de computación en la nube: $ 18.7 millones
• Mantenimiento del centro de datos: $ 12.5 millones
• Infraestructura de red: $ 14 millones

Componente de infraestructura	Costo anual (USD)
Servicios en la nube	$18,700,000
Mantenimiento del centro de datos	$12,500,000
Infraestructura de red	$14,000,000

Recopilación y procesamiento de datos

Gastos anuales totales para la recopilación y procesamiento de datos: $ 37.6 millones

• Redes de recopilación de datos globales: $ 22.3 millones
• Sistemas de procesamiento de datos en tiempo real: $ 15.3 millones

Investigación y desarrollo

Inversión en I + D para 2023: $ 62.4 millones, que representa el 16.8% de los ingresos totales

Área de enfoque de I + D	Inversión (USD)
AI y aprendizaje automático	$24,900,000
Análisis avanzado	$19,500,000
Nuevas plataformas tecnológicas	$18,000,000

Adquisición de talento global

Costos de adquisición total de talento y recursos humanos: $ 89.7 millones

• Gastos de reclutamiento: $ 12.3 millones
• Compensación de empleados: $ 67.4 millones
• Capacitación y desarrollo: $ 10 millones

Marketing y desarrollo de negocios

Gastos de marketing y desarrollo empresarial: $ 41.5 millones

Canal de marketing	Gastar (USD)
Marketing digital	$18,700,000
Asociaciones deportivas	$14,200,000
Marketing de conferencias y eventos	$8,600,000

Sportradar Group AG (SRAD) - Modelo de negocios: flujos de ingresos

Tarifas de licencia de datos

Sportradar generó € 560.3 millones en ingresos para el año fiscal 2022, con licencias de datos que representan una porción significativa de este total. La compañía tiene acuerdos de licencia con más de 1,200 organizaciones deportivas y compañías de medios a nivel mundial.

Segmento de licencias de datos	2022 Detalles financieros
Ingresos totales de licencia de datos	€ 298.7 millones
Número de contratos de licencia global	Más de 1.200 organizaciones deportivas
Valor de contrato promedio	€ 249,000 por contrato

Servicios basados ​​en suscripción

Los servicios de suscripción de Sportradar se dirigen a segmentos de múltiples mercados, incluidos operadores de apuestas deportivas, compañías de medios y ligas deportivas profesionales.

Segmento de suscripción	2022 Ingresos
Ingresos de suscripción total	187.5 millones de euros
Clientes de suscripción activos	850+ clientes globales

Comisiones basadas en el rendimiento

Las comisiones de rendimiento se generan a través de asociaciones de plataformas de apuestas y juegos de azar.

Detalles de la comisión de desempeño	2022 cifras
Ingresos de la comisión total de desempeño	42,6 millones de euros
Número de socios de plataforma de apuestas	Más de 400 plataformas globales

Soluciones de software como servicio (SaaS)

SportRadar ofrece plataformas SaaS especializadas para análisis deportivos y tecnologías de apuestas.

• Ingresos totales de SaaS: 31,2 millones de euros en 2022
• Número de clientes de la plataforma SaaS: más de 250 organizaciones deportivas
• Valor promedio de contrato de SaaS anual: € 124,800

Servicios de consultoría e integración

Los servicios de consultoría especializados complementan las ofertas de tecnología de Sportradar.

Segmento de consultoría	2022 datos financieros
Ingresos de consultoría total	€ 22.5 millones
Número de compromisos de consultoría	175 proyectos globales

Sportradar Group AG (SRAD) - Canvas Business Model: Value Propositions

You're looking at the core reasons why betting operators, media companies, and leagues choose Sportradar Group AG, and the numbers back up the premium they command. It's all about speed, scale, and trust in the data ecosystem.

Ultra-low latency, official sports data for in-play betting.

The value here is delivering data so fast that it keeps pace with live action, which is critical for in-play wagering. For instance, the Virtualized Live Match Tracker leverages official NBA data processed at 60 frames per second, with latency reported as under a second. Sportradar Group AG is also deepening its micro-market offering, expanding beyond the NBA and ATP to include Major League Baseball and the WNBA, where adoption by bettors has been rapid. This premium data fuels high-margin products.

Mission-critical integrity services safeguarding 150+ sports organizations.

Safeguarding the ecosystem is a massive value driver. Sportradar Integrity Services monitors competitions using its Universal Fraud Detection System (UFDS). In 2024, they monitored over 850,000 matches across 70 sports worldwide. They serve as a trusted partner to organizations like the ATP, NBA, NHL, MLB, and FIFA. The unit collaborates with more than 220 partners globally to uphold integrity, and they work with 400 leagues and federations.

Enhanced fan engagement tools like 4Sight Streaming and Virtualized Match Tracker.

These tools transform passive viewing into active participation, which drives client revenue. When 4Sight technology was rolled out for ATP matches, in-play betting activity on the live tennis streams increased by 22%, and fans spent 35% more time on those streams compared to standard streams. For a Europe-based sportsbook using 4Sight on ATP 1000 tennis, the results were even more pronounced, showing a 188% increase in betting sessions per event, alongside 7% higher turnover and 9% more active bettors. This deep integration is paying off across the board; 40% of clients now use four or more Sportradar Group AG products.

Here's a quick look at the impact of product adoption:

Metric	Product/Sport Example	Observed Uplift/Value
In-play Betting Activity	4Sight Streaming (Tennis)	22% increase
Fan Time on Stream	4Sight Streaming (Tennis)	35% more time spent
Betting Sessions per Event	4Sight Streaming (ATP 1000)	188% increase
Data Processing Speed	Virtualized Live Match Tracker (NBA)	Latency under a second

Risk management and trading automation for sportsbooks.

The Managed Betting Services (MBS) segment, which includes Managed Trading Services (MTS), is a clear area of growth and automation. Revenue for MBS grew 21% in Q2 2025. The MTS unit has scaled significantly, now managing over 65 million active bettors and covering 900,000 matches annually. This shows the scale at which Sportradar Group AG is handling risk and automating trading functions for its operator clients.

Diverse content portfolio covering 85+ sports and esports disciplines.

The breadth of content is foundational. Sportradar Group AG delivers data and content for about one million matches each year across 85 sports. Following the acquisition of IMG ARENA, the portfolio is set to expand further, adding relationships with over 70 rights holders and bringing in approximately 38,000 official data events and 29,000 streaming events across 14 global sports. They also support the esports ecosystem, providing data integrity and betting services for major publishers like Riot Games and Activision Blizzard.

The company's overall 2025 revenue guidance, before the full impact of the IMG ARENA close, was set at a minimum of €1,278 million, with a target of at least €1,290 million after incorporating the acquisition's expected uplift.

You should review the cross-selling success, as 40% of clients using four or more products is a strong indicator of value capture. Finance: draft 13-week cash view by Friday.

Sportradar Group AG (SRAD) - Canvas Business Model: Customer Relationships

You're looking at how Sportradar Group AG keeps its biggest clients locked in, and honestly, the numbers show they're doing a great job of embedding themselves deeply within the operations of major betting companies. The core of this is building deep, long-term, B2B relationships with high switching costs. These aren't casual vendors; the solutions are mission-critical and embedded into the clients' operational and technological infrastructure, which makes switching providers a real headache. This long-term focus is supported by relationships nurtured over more than 2 decades, driving durable revenue growth.

The proof of this stickiness is right there in the latest figures. For the third quarter of 2025, Sportradar Group AG achieved a Customer Net Retention Rate of 114%. That means your existing customers, on average, spent 114% of what they spent last year, even before adding any brand-new clients. This strong retention rate is directly attributed to the success of cross-selling and up-selling within the existing base.

We can see the success of that cross-sell strategy clearly in the product adoption metrics. It's not just one product; it's the portfolio effect that keeps them sticky. For instance, as of the second quarter of 2025, 40% of clients were taking 4 or more Sportradar products, which is a key driver for higher take rates. This strategy is clearly working, as the Betting Technology & Solutions segment, the largest, still grew revenue by 11% in Q3 2025, reaching €233 million in revenue.

The focus on new, high-value products like Alpha Odds is central to this up-selling motion. This AI-driven odds personalization solution, offered through Managed Trading Services (MTS), is designed to enhance operator profitability. In 2024, Alpha Odds increased client profits by an average of 11% across soccer, basketball, and tennis markets compared to conventional services. Management expects broader Alpha Odds adoption to contribute to double-digit revenue growth in 2025, with the technology projected to be fully sport agnostic and available for every betting event by the end of 2025.

Direct collaboration with leagues is also a key relationship pillar, often involving new AI-driven fan experiences. Take the Foresight AI-driven live streaming solution; a case study showed it lifted turnover by 30% for covered events. By the end of 2025, the company expects Foresight coverage to reach 14,000 UTR matches. Furthermore, Sportradar Group AG maintains strategic relationships with over 70 rights holders, with approximately 70% of those rights spread across soccer, tennis, and basketball, and continues to secure integrity partnerships, such as the multi-year deal with the Brazilian Volleyball Confederation (CBV).

Here's a quick look at the key customer-related financial and statistical data from the Q3 2025 period:

Metric	Value / Rate	Period / Context
Customer Net Retention Rate	114%	Q3 2025
Total Revenue	€292 million	Q3 2025
Betting Technology & Solutions Revenue	€233 million	Q3 2025 (11% YoY Growth)
Sports Content, Technology & Services Revenue	€59 million	Q3 2025 (31% YoY Growth)
Clients Taking 4+ Products	40%	Q2 2025 (Context for Cross-Sell)
Alpha Odds Profit Lift (Avg.)	11%	2024 (Soccer, Basketball, Tennis)

The depth of engagement is also reflected in the overall client reach and the success of specific product rollouts:

• Serves clients in over 120 countries worldwide.
• Alpha Odds expected to cover every sports betting event by end of 2025.
• Foresight expected to cover 14,000 UTR matches by end of 2025.
• Secured integrity partnership with Brazilian Volleyball Confederation (CBV).

Finance: draft 13-week cash view by Friday.

Sportradar Group AG (SRAD) - Canvas Business Model: Channels

You're looking at how Sportradar Group AG gets its data and services into the hands of its customers-the delivery mechanism is key to their whole operation. This is all about direct access and platform unification, which is where the real value is captured.

The core of the distribution strategy for the Betting Technology & Solutions segment relies on deep, direct integration. Sportradar Group AG provides direct API integration for its global betting operator clients. As of the latest operational snapshot, the company serves over 800 global betting operator clients with these direct feeds. This level of integration is mission-critical, as it feeds the real-time data that powers in-play wagering across the globe.

To enhance this direct channel, Sportradar Group AG utilizes its proprietary data feeds and platform access, specifically through OneFeed. This functionality is designed to unify sports data and odds feeds from any supplier into Sportradar's standardized format. This means clients can apply Sportradar Group AG's full spectrum of trading, risk management, and marketing capabilities across their entire betting portfolio, regardless of the original source. For example, the integration of Logifuture's Zoom Soccer, which adds over 30,000+ additional monthly events, becomes instantly accessible to Sportradar Group AG's global network via OneFeed, bypassing complex integration processes for the operator.

Distribution to the media side is equally direct, focusing on content syndication. Sportradar Group AG maintains direct contracts for content distribution with over 900 media and technology partners. This scale is part of their overall operational footprint, which includes delivering data and content for about one million matches each year across 85 sports and maintaining partnerships with 400 leagues and federations.

The commercial push is heavily weighted toward the North American market, which is a clear growth channel. The sales team focused on North America is driving significant top-line results. For instance, in the first quarter of 2025, revenue from the United States specifically rose by 31% year-on-year, hitting €86 million. That single-quarter performance represented 28% of the total company revenue for Q1 2025, showing the channel's increasing importance against the backdrop of total Q1 2025 revenue of €311 million.

Here's a quick look at the scale of these distribution endpoints as of the Q1 2025 reporting period:

Channel Metric	Data Point	Context/Period
Global Betting Operator Clients	800+	Current operational scale
Media/Tech Partners	900+	Current operational scale
US Revenue Growth	31%	Q1 2025 Year-over-Year
US Revenue Contribution	€86 million	Q1 2025
Total Company Revenue	€311 million	Q1 2025
Total Annual Matches Covered	~1 million	Current operational scale

The focus on direct integration and platform consolidation via OneFeed is designed to maximize the reach of their core data assets. You can see the impact of this channel focus in the segment performance:

• Betting Technology & Solutions revenue grew 14% in Q1 2025 to €250 million.
• Sports Content, Technology & Services revenue grew 33% in Q1 2025 to €61 million.
• Marketing & Media Services, a component of the latter, grew 36% in Q1 2025.

If onboarding new operators takes longer than expected, churn risk definitely rises, so keeping those API integrations smooth is paramount.

Sportradar Group AG (SRAD) - Canvas Business Model: Customer Segments

You're looking at the core groups Sportradar Group AG serves as of late 2025, which directly translates to where their revenue is coming from. It's a mix of betting giants, major sports bodies, and media players. The stickiness of these relationships is key; for instance, the Customer Net Retention Rate was 114% in the third quarter of 2025, showing existing clients are spending more on Sportradar Group AG's offerings.

Global Sports Betting Operators (Sportsbooks)

This group forms the backbone, primarily served through the Betting Technology & Solutions segment. In the third quarter of 2025, this segment brought in €233 million in revenue, marking an 11% year-over-year increase. Within this, Managed Betting Services grew by 19%, driven by increased turnover and higher trading margins from clients using Sportradar Group AG's Managed Trading Services. The unit manages data for over 65 million active bettors and covers 900,000 matches annually as of mid-2025.

International Sports Leagues and Federations

Sportradar Group AG's relationship with rights holders is mission critical, securing the official data feeds that power the betting and media ecosystems. A major example is the extension of the data rights deal with Major League Baseball (MLB) through 2032. The company also announced an agreement to acquire IMG ARENA's sports betting rights portfolio, a transaction expected to close in the fourth quarter of 2025, which will further bolster content offerings across the most bet-upon sports.

Digital Media Companies and Broadcasters

These customers drive revenue through the Sports Content, Technology & Services segment, particularly via Marketing & Media Services. This area saw revenue climb 33% in the third quarter of 2025, fueled by increased spending from technology and media companies and contributions from expanded affiliate marketing capabilities. Overall, the Sports Content, Technology & Services segment generated €61 million in Q3 2025, a 31% year-over-year jump.

Government and Regulatory Bodies (Integrity Services)

This is a specialized but high-growth area focused on ensuring fair play. Integrity Services saw its contributions more than double during the third quarter of 2025, a result of higher uptake of products and services from league partners and the addition of new customers. This service directly supports the integrity of the sports ecosystem for regulators and governing bodies worldwide.

U.S. market operators driving significant growth

The U.S. market is a primary growth engine. In the third quarter of 2025, revenue derived from the U.S. grew 21% year-on-year, making up 23% of the total company revenue for the period. This strong performance is supported by new customer uptake of premium wagering content for U.S. sports, like micro-betting markets for MLB, ATP, and NBA events. For context, in the second quarter of 2025, U.S. revenue growth was even higher at 30%.

Here's a quick look at the financial scale tied to these customer groups based on the latest reported quarter:

Customer-Related Metric	Value (Q3 2025)	Context/Segment Driver
Total Quarterly Revenue	€292 million	Overall top-line performance
Betting Technology & Solutions Revenue	€233 million	Primarily Sportsbooks
Sports Content, Technology & Services Revenue	€61 million	Media, Broadcasters, and some League Services
U.S. Revenue Share	23%	U.S. Market Operators
Customer Net Retention Rate	114%	Existing Customer Expansion
Integrity Services Growth	More than doubled	Leagues and Regulatory Bodies

The company's overall confidence in these segments is reflected in the raised full-year 2025 guidance:

• Anticipated full-year 2025 revenue of at least €1,290 million.
• Projected full-year 2025 revenue growth of at least 17%.
• Anticipated Adjusted EBITDA of at least €290 million.

If onboarding takes 14+ days, churn risk rises, though the current retention rate suggests this isn't a major issue right now. Finance: draft 13-week cash view by Friday.

Sportradar Group AG (SRAD) - Canvas Business Model: Cost Structure

You're looking at the core expenses that fuel Sportradar Group AG's data and technology engine. Honestly, for a company built on exclusive content, the cost structure is dominated by securing and delivering that content. It's a high-volume, high-commitment operation.

High fixed cost of acquiring exclusive sports data rights is the bedrock of the cost structure. These are long-term commitments that don't scale down easily with short-term revenue dips. For the second quarter of 2025, the Sports rights expense hit $106 million, which was up 11% year-on-year. This expense category is key because Sportradar has significant visibility on these locked-in costs over the long term, which aids in margin planning. Furthermore, payments related to sport rights licenses were the primary use of cash in investing activities, accounting for €166 million in net cash used for the nine months ended September 30, 2025. The non-current liability for license fee payables for capitalized sports data rights was listed at €316,576 (units contextually implied as thousands or millions).

Personnel is the next major component. For Q2 2025, the Adjusted personnel expenses-which excludes share-based compensation, restructuring, and capitalized compensation-were reported at $80 million, an increase of 12% year-on-year, driven by adding headcount for growth opportunities. The overall personnel expenses, including share-based compensation, saw a 14.2% increase in Q2 2025 compared to the prior year. Sportradar is focused on ensuring these expenses decline as a percentage of revenue to show operating leverage.

Investment in technology, which underpins R&D for AI and platform development, shows up in several places. The Adjusted purchased services for Q2 2025 were $44 million, up 14% year-on-year. This line item is explicitly driven by investments in developing the product portfolio and includes increased cloud costs. The company is actively leveraging its technology and AI capabilities, as evidenced by product wins like the 4Sight streaming solution.

The infrastructure costs, specifically for data collection and processing, are embedded within those purchased services and operating expenses. The increase in Adjusted purchased services was primarily driven by increased cloud costs to support growth initiatives. This points directly to the scaling costs of the data processing backbone required to service the growing client base, especially in the U.S. market.

Marketing and sales costs are also a significant driver of operating expenses, particularly tied to market expansion. The growth in Adjusted purchased services was also attributed to higher traffic and affiliate costs related to the expansion of the marketing services business. This aligns with the strong focus on the U.S. market, where revenues expanded to 28% of total revenues as of Q1 2025. The company also noted a 30% revenue increase in the U.S. region during Q2 2025.

Here's a quick look at the major cost components for the second quarter of 2025, based on reported adjusted figures:

Cost Component	Q2 2025 Amount (USD)	Year-over-Year Growth (Q2 2025 vs Q2 2024)
Adjusted Personnel Expenses	$80 million	12%
Sports Rights Expense	$106 million	11%
Adjusted Purchased Services (Proxy for R&D/Cloud/Marketing)	$44 million	14%
Adjusted Other Operating Expenses	$24 million	2%

The total reported revenue for Q2 2025 was $318 million. Sportradar has approximately €2 billion of contractual revenue commitments locked in over the next two years (as of Q1 2025), which provides strong visibility on future revenue offsetting some of the fixed cost uncertainty.

Sportradar Group AG (SRAD) - Canvas Business Model: Revenue Streams

You're looking at how Sportradar Group AG converts its data and technology assets into hard currency as of late 2025. The revenue streams are clearly segmented, showing where the core value is being captured across the sports betting and media ecosystems.

The overall financial trajectory for the year is strong, with Sportradar Group AG raising its full-year guidance based on early performance. The latest projection for the full-year 2025 revenue stands at at least €1.290 billion, reflecting a year-on-year growth of at least 17% as of November 2025.

The first quarter of 2025 demonstrated this momentum, with total revenue reaching €311 million. The breakdown of these quarterly earnings highlights the two primary revenue-generating segments:

Revenue Stream Segment	Q1 2025 Revenue (EUR)	Year-over-Year Growth (Q1 2025)
Betting Technology & Solutions revenue	€250 million	14%
Sports Content, Technology & Services revenue	€61 million	33%

Within the Betting Technology & Solutions segment, a significant portion comes from services tied directly to betting activity. Specifically, Managed Trading Services (MTS) fees are structured based on turnover or volume processed for clients, which saw strong growth driven by increased turnover and higher trading margins.

The Sports Content, Technology & Services segment also contributes substantially, with Marketing & Media Services, a key component, growing by 36% in Q1 2025, supported by higher advertising revenue.

Beyond these core segments, Sportradar Group AG secures revenue through specialized services and rights monetization:

• Integrity Services fees are generated from monitoring services, such as the extended partnership with the Brazilian Football Confederation (CBF).
• Media rights distribution revenue is bolstered by strategic asset acquisition, notably the agreement to acquire IMG ARENA's global sports betting rights portfolio.
• The value of existing media rights is evident, as Q1 2025 included a €28 million foreign exchange gain, primarily tied to U.S. dollar-denominated sports rights.
• Further media rights monetization is seen in the extended Bundesliga partnership, which grants Sportradar the authority to sublicense video content outside the DACH region through 2031-32.

The Customer Net Retention Rate of 122% in Q1 2025 shows that existing clients are expanding their use of Sportradar Group AG's offerings, which directly feeds these various revenue streams.