Sportradar Group AG (SRAD): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da tecnologia esportiva, o Sportradar Group AG (SRAD) surge como uma potência transformadora, revolucionando como os dados esportivos impulsionam entretenimento, apostas e análises globais. Ao alavancar tecnologias de ponta e uma ampla rede de insights esportivos, essa empresa inovadora se posicionou na interseção de dados, esportes e inovação digital, oferecendo valor sem precedentes para ligas, empresas de mídia, operadores de apostas e fãs em todo o mundo. Seu modelo de modelo de negócios exclusivo revela um ecossistema sofisticado que transforma dados de esportes brutos em inteligência estratégica, criando vários fluxos de receita e redefinindo o cenário de tecnologia esportiva.

Sportradar Group AG (SRAD) - Modelo de negócios: Parcerias -chave

Ligas esportivas e federações

Sportradar tem parcerias oficiais de dados com:

Liga/Federação	Detalhes da parceria
NFL	Direitos de dados exclusivos desde 2015
NBA	Provedor de dados oficial desde 2013
FIFA	Dados globais e parceiro de streaming

Provedores de dados e parceiros de tecnologia

As principais colaborações de tecnologia incluem:

• Microsoft Azure Cloud Infrastructure Partnership
• Amazon Web Services (AWS) Contrato de processamento de dados
• Oracle Database and Analytics Solutions

Operadores de apostas e plataformas de jogo

Parceiro	Escopo da parceria
Bet365	Integração de dados esportivos em tempo real
DraftKings	Serviços abrangentes de dados de apostas esportivas
William Hill	Feed de dados globais e gerenciamento de riscos

Empresas de mídia e emissoras

• Parceria de conteúdo da ESPN
• Sky Sports Data Collaboration
• Dazn Streaming Data Services

Serviços em nuvem e provedores de infraestrutura

As parcerias de infraestrutura incluem:

Provedor	Tipo de serviço
Google Cloud	Aprendizado de máquina e processamento de dados
IBM Cloud	Infraestrutura de análise avançada

Sportradar Group AG (SRAD) - Modelo de negócios: Atividades -chave

Coleta e análise de dados esportivos

Sportradar coleta dados de mais de 550.000 eventos ao vivo anualmente em mais de 70 esportes em todo o mundo. A empresa emprega mais de 1.300 coletores de dados e usa Tecnologias de rastreamento em tempo real.

Métricas de coleta de dados	Volume anual
Eventos esportivos ao vivo	550,000+
Esportes cobertos	70+
Coletores de dados	1,300+

Soluções de apostas esportivas em tempo real

O Sportradar fornece soluções de apostas para mais de 200 operadores em 120 países, gerando US $ 612,3 milhões em receitas relacionadas a apostas em 2022.

• Mais de 200 operadores de apostas serviram
• 120 países cobertos
• Receitas de apostas relacionadas a US $ 612,3 milhões (2022)

Tecnologias avançadas de visualização de dados

Desenvolve plataformas de visualização Processando 3,5 milhões de pontos de dados por partida com 99,9% de precisão.

Aprendizado de máquina e modelagem preditiva

Investiu US $ 78,2 milhões em P&D durante 2022, com foco nas tecnologias de IA e aprendizado de máquina.

Investimento em P&D	Quantia
Gastos anuais de P&D	US $ 78,2 milhões

Distribuição de conteúdo esportivo global

Distribui o conteúdo de mais de 1.200 clientes de mídia em todo o mundo, cobrindo os direitos de transmissão para várias ligas esportivas.

• 1.200 mais de clientes de mídia
• Rede global de distribuição de conteúdo

Sportradar Group AG (SRAD) - Modelo de negócios: Recursos -chave

Plataforma proprietária de dados de dados esportivos

A partir de 2024, os processos de plataforma proprietária de Sportradar 3,7 milhões de eventos ao vivo anualmente em mais de 85 disciplinas de esportes e esports. A plataforma lida mais de 1,2 petabytes de dados por ano.

Métrica da plataforma	Valor quantitativo
Eventos ao vivo anuais processados	3,7 milhões
Disciplinas de esportes/esports cobertos	85+
Volume anual de dados	1.2 Petabytes

Dados esportivos extensos e bancos de dados estatísticos

Sportradar mantém Dados históricos que abrangem mais de 30 anos em várias categorias de esportes.

• Cobertura de mais de 750.000 partidas/eventos anualmente
• Coleta de dados em tempo real de mais de 350 ligas globais
• Banco de dados contém mais de 500 milhões de registros esportivos históricos

Algoritmos avançados de IA e aprendizado de máquina

A empresa investe € 78,2 milhões anualmente em P&D focado no desenvolvimento algorítmico.

Categoria de investimento AI/ML	Despesas anuais
Pesquisar & Desenvolvimento	€ 78,2 milhões
Engenheiros de aprendizado de máquina	127 especialistas

Rede global de coletores de dados esportivos

Sportradar opera a Rede mundial de coleta de dados com distribuição geográfica precisa.

• Mais de 5.000 coletores de dados no local globalmente
• Cobertura em 190 países
• Infraestrutura de transmissão de dados em tempo real

Talento técnico e experiência em ciência de dados

A partir de 2024, Sportradar emprega 2.300+ profissionais técnicos.

Categoria profissional	Número de funcionários
Cientistas de dados	412
Engenheiros de software	876
Equipe técnica total	2,300+

Sportradar Group AG (SRAD) - Modelo de negócios: proposições de valor

Insights abrangentes de dados esportivos em tempo real

O Sportradar fornece cobertura de dados esportivos em tempo real para mais de 85.000 eventos anualmente em mais de 70 esportes em todo o mundo. A empresa rastreia 1,5 milhão de eventos ao vivo por ano com coleta de dados em mais de 500 ligas e competições.

Métrica de cobertura de dados	Volume anual
Total de eventos ao vivo	1,5 milhão
Ligas esportivas cobertas	500+
Eventos esportivos anuais	85,000

Gerenciamento avançado de apostas e riscos de apostas

Processo de Soluções de Gerenciamento de Risco de Sportradar sobre 250 bilhões de transações de apostas anualmente, Utilizando a detecção algorítmica avançada para possíveis padrões de apostas e apostas suspeitas.

• Detecção de mais de 5.500 correspondências suspeitas por ano
• Prevenção de fraudes em tempo real em mais de 180 países
• 99,7% de precisão na identificação de risco

Tecnologias aprimoradas de engajamento dos fãs

O Sportradar oferece soluções de engajamento de fãs que atingem 1,3 bilhão de fãs de esportes em todo o mundo através de plataformas digitais e redes de distribuição de conteúdo.

Métrica de engajamento	Alcance anual
Fãs de esportes globais	1,3 bilhão
Interações da plataforma digital	5,2 bilhões

Desempenho preditivo e análise estatística

O Sportradar gera mais de 3,5 milhões de modelos preditivos anualmente, fornecendo informações estatísticas avançadas para equipes esportivas, emissoras e operadores de apostas.

• 3,5 milhões de modelos de desempenho preditivo
• Algoritmos de aprendizado de máquina com precisão de 92%
• Pontos de dados rastreados por evento esportivo: 1.200+

Soluções globais de monetização de conteúdo esportivo

O Sportradar gera receita de € 719 milhões em 2022, com soluções de monetização de dados esportivos atendendo a 1.100 clientes em 120 países.

Métrica de monetização	Valor anual
Receita total (2022)	€ 719 milhões
Clientes globais	1,100+
Países serviram	120

Sportradar Group AG (SRAD) - Modelo de Negócios: Relacionamentos do Cliente

Acordos de serviço de dados personalizados

Sportradar oferece Acordos de serviço de dados personalizados Em vários segmentos esportivos:

Segmento de clientes	Nível de serviço	Valor anual do contrato
Ligas esportivas profissionais	Pacote de dados premium	US $ 750.000 - US $ 2,5 milhões
Operadores de apostas	Feeds de dados em tempo real	$ 350.000 - US $ 1,2 milhão
Empresas de mídia	Análise avançada	$250,000 - $900,000

Suporte técnico e assistência de integração

Sportradar fornece suporte abrangente de integração técnica:

• Equipe de suporte técnico global 24/7
• Engenheiros de integração dedicados
• Documentação da API e ambientes de sandbox
• Tempo médio de resposta: 17 minutos

Atualizações regulares de desempenho e análise

Atualizar frequência	Pontos de dados cobertos	Precisão da cobertura
Atualizações em tempo real	Mais de 50 esportes	99,8% de precisão
Relatórios semanais de desempenho	Métricas de desempenho avançado	100% abrangente

Gerenciamento de conta dedicado

Estrutura de gerenciamento de contas:

• 1 gerente de contas dedicado por US $ 500.000 Valor do contrato
• Reuniões trimestrais de revisão de negócios
• Estratégia de engajamento personalizada

Serviços de consulta de tecnologia

Tipo de consulta	Escopo de serviço	Custo médio de consulta
Arquitetura de dados	Soluções de integração personalizadas	$75,000 - $250,000
Consultoria de aprendizado de máquina	Desenvolvimento de análise preditiva	$100,000 - $350,000

Sportradar Group AG (SRAD) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir de 2023, a Sportradar empregou aproximadamente 1.900 profissionais de vendas globalmente. A equipe de vendas direta gerou US $ 612,7 milhões em receita durante o ano fiscal de 2022.

Tipo de canal de vendas	Contribuição da receita	Cobertura geográfica
Vendas corporativas	US $ 287,4 milhões	35 países
Vendas no meio do mercado	US $ 195,6 milhões	22 países
Gerenciamento de contas estratégicas	US $ 129,7 milhões	18 países

Plataformas digitais online

O Sportradar opera várias plataformas digitais que atendem a mais de 400 operadores de apostas esportivas em todo o mundo.

• Usuários da plataforma digital: 1,2 milhão de usuários ativos mensais
• Ponto de extremidade de integração da API: 127 canais de integração de dados exclusivos
• Tempo de atividade da plataforma: 99,97% de confiabilidade

Conferências de Tecnologia Esportiva

Sportradar participou de 18 conferências internacionais de tecnologia esportiva em 2022, gerando US $ 42,3 milhões em oportunidades diretas de negócios.

Parcerias estratégicas

Categoria de parceiro	Número de parceiros	Valor anual da parceria
Ligas esportivas	75	US $ 156,8 milhões
Empresas de tecnologia	42	US $ 87,5 milhões
Organizações de mídia	63	US $ 112,6 milhões

Integrações de API baseadas na Web

O Sportradar fornece mais de 1.200 feeds de dados em tempo real em mais de 70 esportes.

• Total de clientes da API: mais de 850 clientes globais
• Transações diárias da API: 3,2 bilhões
• Tempo médio de resposta da API: 12 milissegundos

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

Operadores de apostas esportivas

Sportradar atende 1.200 mais operadores de apostas esportivas em todo o mundo, incluindo grandes empresas como Bet365, William Hill e DraftKings.

Tipo de cliente	Número de clientes	Cobertura de mercado
Operadores de apostas globais	1,200+	Mais de 80 países
Empresas de apostas de nível 1	150+	Mercados europeus e norte -americanos

Ligas esportivas profissionais

O Sportradar fornece dados e serviços para mais de 250 ligas esportivas profissionais em todo o mundo.

Tipo de liga	Número de ligas	Esportes cobertos
Ligas profissionais	250+	Futebol, basquete, tênis, hóquei no gelo
Principais parcerias da liga	50+	NFL, NBA, NHL, UEFA

Empresas de mídia e transmissão

O Sportradar suporta mais de 500 organizações de mídia com dados e conteúdos esportivos em tempo real.

• ESPN
• Esportes de céu
• BBC Sport
• Dazn

Empresas de análise esportiva

Fornece soluções de dados avançadas para mais de 100 empresas de análise esportiva.

Serviço de análise	Número de clientes	Pontos de dados processados
Análise avançada	100+	300 milhões de+ pontos de dados por dia

Plataformas de entretenimento digital

Serve mais de 200 plataformas de entretenimento digital com conteúdo e dados relacionados a esportes.

• Plataformas de jogos
• Serviços de streaming
• Plataformas de esportes de fantasia
• Desenvolvedores de aplicativos móveis

Sportradar Group AG (SRAD) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica da Sportradar para 2023 foram de aproximadamente US $ 45,2 milhões. Isso inclui:

• Despesas de computação em nuvem: US $ 18,7 milhões
• Manutenção do data center: US $ 12,5 milhões
• Infraestrutura de rede: US $ 14 milhões

Componente de infraestrutura	Custo anual (USD)
Serviços em nuvem	$18,700,000
Manutenção do data center	$12,500,000
Infraestrutura de rede	$14,000,000

Coleta e processamento de dados

Despesas anuais totais para coleta e processamento de dados: US $ 37,6 milhões

• Redes globais de coleta de dados: US $ 22,3 milhões
• Sistemas de processamento de dados em tempo real: US $ 15,3 milhões

Pesquisa e desenvolvimento

Investimento de P&D para 2023: US $ 62,4 milhões, representando 16,8% da receita total

Área de foco em P&D	Investimento (USD)
AI e aprendizado de máquina	$24,900,000
Análise avançada	$19,500,000
Novas plataformas de tecnologia	$18,000,000

Aquisição global de talentos

Aquisição total de talentos e custos de recursos humanos: US $ 89,7 milhões

• Despesas de recrutamento: US $ 12,3 milhões
• Compensação de funcionários: US $ 67,4 milhões
• Treinamento e desenvolvimento: US $ 10 milhões

Marketing e desenvolvimento de negócios

Despesas de marketing e desenvolvimento de negócios: US $ 41,5 milhões

Canal de marketing	Gaste (USD)
Marketing digital	$18,700,000
Parcerias esportivas	$14,200,000
Marketing de conferência e evento	$8,600,000

Sportradar Group AG (SRAD) - Modelo de negócios: fluxos de receita

Taxas de licenciamento de dados

Sportradar gerou 560,3 milhões de euros em receita para o ano fiscal de 2022, com o licenciamento de dados representando uma parcela significativa desse total. A empresa possui acordos de licenciamento com mais de 1.200 organizações esportivas e empresas de mídia em todo o mundo.

Segmento de licenciamento de dados	2022 Detalhes financeiros
Receita total de licenciamento de dados	€ 298,7 milhões
Número de contratos de licenciamento globais	1.200 mais de organizações esportivas
Valor médio do contrato	€ 249.000 por contrato

Serviços baseados em assinatura

Os serviços de assinatura da Sportradar visam vários segmentos de mercado, incluindo operadores de apostas esportivas, empresas de mídia e ligas esportivas profissionais.

Segmento de assinatura	2022 Receita
Receita total de assinatura	€ 187,5 milhões
Clientes de assinatura ativa	850+ clientes globais

Comissões baseadas em desempenho

As comissões de desempenho são geradas por meio de parcerias de apostas e plataformas de jogo.

Detalhes da Comissão de Desempenho	2022 Figuras
Receita da Comissão de Desempenho Total	€ 42,6 milhões
Número de parceiros da plataforma de apostas	400+ plataformas globais

Soluções de software como serviço (SaaS)

A Sportradar oferece plataformas SaaS especializadas para análises esportivas e tecnologias de apostas.

• Receita total de SaaS: € 31,2 milhões em 2022
• Número de clientes da plataforma SaaS: mais de 250 organizações esportivas
• Valor médio anual do contrato SaaS: 124.800 €

Serviços de consultoria e integração

Serviços de consultoria especializados complementam as ofertas de tecnologia da Sportradar.

Segmento de consultoria	2022 dados financeiros
Receita total de consultoria	€ 22,5 milhões
Número de compromissos de consultoria	175 Projetos Globais

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.