Better Collective has strengthened its standing in the Danish market whilst also solidifying one of the key pillars of its global strategy via a takeover of Tipsbladet.
The transaction was conducted at a purchasing price of €6.5m. The football media site will be incorporated into the company’s international portfolio of sports betting content web pages from 2 October.
A Danish-founded firm, Better Collective hopes that the acquisition will further expand its reach in its native market, pointing to Tipsbladet’s 6.8 million monthly audience and social media following of 110,000 across Facebook, X (Twitter), Instagram and TikTok.
Jesper Søgaard, Co-founder & CEO of Better Collective, said: “I a m very proud that we have acquired Tipsbladet that for 75 years has been a go-to sports media for many Danes that want to engage with prime soccer content.
“The acquisition fits perfectly with our vision to become the leading digital sports media group and our strategy to acquire strong media brands with a loyal audience.
“I look very much forward to welcoming the dedicated editorial team at Tipsbladet to the Better Collective group and I am convinced that together we can further elevate the content that for years has excited so many Danish sports fans.”
Henrik Stegger Nielsen – former owner of Tipsbladet, which has been in print since 1948 and entered the digital sphere in 2000 – added that he “could hardly imagine a better buyer” for the brand than Better Collective.
The group, which has made clear its intentions to secure a global foothold as a leading digital sports media publisher, has identified several synergies with Tipsbladet.dk.
The abovementioned objective and the global strategy behind features acquisition of leading national sports media brands as an ‘important pillar’, and the firm believes that by acquiring Tipsbladet it will be able to further leverage its position as a partner for Danish advertisers.
Denmark’s sports betting market has recorded an uplift of late, with regulatory figures published in June 2023 showing a 38% revenue increase from DKK 155m (€20.8m) to DKK 214m (€28.7m).
Meanwhile, some operators have been shoring up their presence in the country – LeoVegas relaunched the Expekt sportsbook there earlier this year, and more recently Betsson’s flagship brand was taken live toin the market.
Esben Skou Vinther, VP of Europe at Better Collective, remarked: ”As a trusted sports media, Tipsbladet and its employees have built a unique position in the Danish sports market and is a media that will supplement our Danish media portfolio in a great way.
“We intend to invest in the development of Tipsbladet.dk to further strengthen the content across digital channels. In doing so, Tipsbladet will become an even more attractive advertisement partner for businesses that aim to activate their brand in a relevant and engaging sports context.”
Operationally, Better Collective anticipates Tipsbaldet’s editorial team to create a ‘solid foundation’ for further media growth, whilst also detailing plans to invest in the brand’s development and utilise its own tech and SEO capabilities to expand the site’s audience.
The company added that it expects post-synergy 2024 EBITDA multiple to be below 5x, and that its 2023 financial targets (such as revenue growth of around 3% to between €315m and €325m) remain unchanged.
Allan Olsen, Editor in Chief at Tipsbladet, stated: “For Tipsbladet and its employees, this is a fantastic event. Even though we have experienced lots of growth and great numbers on the bottom line in an otherwise pressured media world, there is no doubt that Better Collective can help push Tipsbladet’s growth even further.
“We will continue to deliver strong football stories, but with Better Collective behind us, we can really make the content live on many more platforms and reach a wider audience.”
On a wider scale, Better Collective has been eyeing up expansion in countries far beyond Europe, with the group repeatedly highlighting the opportunities of Latin America.
This strategy saw the recent acquisition of Brazilian sports media platform Torcedores.com, ahead of the eagerly anticipated regulation of a federal sports betting market.