Catena Media

Catena Media seeks to soften Q1 woes with new VP Product hire

Catena Media has announced Jasleen Kals as its new Vice President Product as the company transitions to a product-first operating model. 

The expansion of Catena’s executive team represents a strategic move towards revenue growth for H2 2024. 

In its latest Q1 financial update, the media firm revealed to investors “another quarter of underperformance”, registering a 50% decline in corporate revenues to €16m (Q1 2023: €31.5m).

The downturn was attributed to its North American media unit impacted by a 50% drop in revenues to €14m, “equivalent to 90% of group revenue from continuing operations.”

Providing a breakdown of individual unit performance, Catena’s sports network detailed a 68% revenue decline to €6.1m (Q1 2023: €19m), combined with an EBITDA loss of €1.9m.

Struggles were further recorded by Catena’s casino network, which registered a 20% decline in revenues to €9.9m (Q1 2023: €12m) as the unit’s EBITDA contribution halved to €3.7m.

Kals will now leverage his new role to lead the company on its path to recovery, with Catena Interim CEO Pierre Cadena adding: “Jasleen has impressive experience in creating and building excellent products and we are delighted she is joining us. Her knowledge, leadership and drive will be central as we embed our new product-focused operating model across the organisation.

“The model will prioritise the development of our best-performing products and create superior user experiences as we position the business to deliver sustainable long-term growth. Jasleen will lead the evolution and growth of Catena Media’s portfolio of outstanding assets and brands to enable us to unlock their full potential.”



Check Also

SBC News Catena Q1 swamped by US declines ahead of new leadership makeover

Catena Q1 swamped by US declines ahead of new leadership makeover

Catena Media details continued struggles in its corporate recovery, as the media firm implements a …

Catena Media

Catena promotes Michael Gerrow to Group CFO

Catena Media Plc has announced the promotion of Michael Gerrow to Group CFO of the …

SBC News Catena hires Manu Stan as new CEO to lead US playbook

Catena hires Manu Stan as new CEO to lead US playbook

The board of Catena Media Plc has confirmed the appointment of Manuel ‘Manu’ Stan as …