Sportradar Group AG (SRAD): Business Model Canvas

In der dynamischen Welt der Sporttechnologie erweist sich die Sportradar Group AG (SRAD) als transformatives Kraftpaket und revolutioniert die Art und Weise, wie Sportdaten globale Unterhaltung, Wetten und Analysen vorantreiben. Durch die Nutzung modernster Technologien und eines umfangreichen Netzwerks an Erkenntnissen aus dem Sport hat sich dieses innovative Unternehmen an der Schnittstelle von Daten, Sport und digitaler Innovation positioniert und bietet Ligen, Medienunternehmen, Wettanbietern und Fans weltweit einen beispiellosen Mehrwert. Ihr einzigartiges Business Model Canvas offenbart ein ausgeklügeltes Ökosystem, das rohe Sportdaten in strategische Informationen umwandelt, mehrere Einnahmequellen schafft und die Sporttechnologielandschaft neu definiert.

Sportradar Group AG (SRAD) – Geschäftsmodell: Wichtige Partnerschaften

Sportligen und Verbände

Sportradar unterhält offizielle Datenpartnerschaften mit:

Liga/Verband	Einzelheiten zur Partnerschaft
NFL	Exklusive Datenrechte seit 2015
NBA	Offizieller Datenanbieter seit 2013
FIFA	Globaler Daten- und Streaming-Partner

Datenanbieter und Technologiepartner

Zu den wichtigsten Technologiekooperationen gehören:

• Microsoft Azure Cloud-Infrastrukturpartnerschaft
• Datenverarbeitungsvereinbarung für Amazon Web Services (AWS).
• Oracle-Datenbank- und Analyselösungen

Wettanbieter und Glücksspielplattformen

Partner	Umfang der Partnerschaft
Bet365	Integration von Sportdaten in Echtzeit
DraftKings	Umfassende Sportwetten-Datendienste
William Hill	Globaler Datenfeed und Risikomanagement

Medienunternehmen und Rundfunkanstalten

• ESPN-Content-Partnerschaft
• Datenkooperation von Sky Sports
• DAZN-Streaming-Datendienste

Cloud-Service- und Infrastrukturanbieter

Zu den Infrastrukturpartnerschaften gehören:

Anbieter	Servicetyp
Google Cloud	Maschinelles Lernen und Datenverarbeitung
IBM Cloud	Erweiterte Analyseinfrastruktur

Sportradar Group AG (SRAD) – Geschäftsmodell: Hauptaktivitäten

Sammlung und Analyse von Sportdaten

Sportradar sammelt jährlich Daten von über 550.000 Live-Events in über 70 Sportarten weltweit. Das Unternehmen beschäftigt mehr als 1.300 Datensammler und -nutzer Echtzeit-Tracking-Technologien.

Datenerfassungsmetriken	Jahresvolumen
Live-Sportveranstaltungen	550,000+
Sport abgedeckt	70+
Datensammler	1,300+

Echtzeit-Sportwettenlösungen

Sportradar bietet Wettlösungen für mehr als 200 Betreiber in 120 Ländern an und generiert im Jahr 2022 Wetteinnahmen in Höhe von 612,3 Millionen US-Dollar.

• Über 200 Wettanbieter bedient
• 120 Länder abgedeckt
• 612,3 Millionen US-Dollar Wetteinnahmen (2022)

Fortschrittliche Datenvisualisierungstechnologien

Entwickelt Visualisierungsplattformen, die 3,5 Millionen Datenpunkte pro Spiel mit einer Genauigkeit von 99,9 % verarbeiten.

Maschinelles Lernen und prädiktive Modellierung

Im Jahr 2022 wurden 78,2 Millionen US-Dollar in Forschung und Entwicklung investiert, wobei der Schwerpunkt auf KI- und maschinellen Lerntechnologien lag.

F&E-Investitionen	Betrag
Jährliche F&E-Ausgaben	78,2 Millionen US-Dollar

Globale Verbreitung von Sportinhalten

Vertreibt Inhalte an mehr als 1.200 Medienkunden weltweit und deckt Übertragungsrechte für mehrere Sportligen ab.

• Über 1.200 Medienkunden
• Globales Netzwerk zur Verbreitung von Inhalten

Sportradar Group AG (SRAD) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Sportdatenanalyseplattform

Ab 2024 erfolgt die proprietäre Plattform von Sportradar 3,7 Millionen Live-Events jährlich in über 85 Sport- und E-Sport-Disziplinen. Die Plattformgriffe über 1,2 Petabyte Daten pro Jahr.

Plattformmetrik	Quantitativer Wert
Jährliche Live-Events verarbeitet	3,7 Millionen
Abgedeckte Sport-/Esportdisziplinen	85+
Jährliches Datenvolumen	1,2 Petabyte

Umfangreiche Sportdaten und statistische Datenbanken

Sportradar behauptet historische Daten aus über 30 Jahren über mehrere Sportkategorien hinweg.

• Berichterstattung über mehr als 750.000 Spiele/Events pro Jahr
• Echtzeit-Datenerfassung aus über 350 globalen Ligen
• Die Datenbank enthält über 500 Millionen historische Sportaufzeichnungen

Fortschrittliche KI- und maschinelle Lernalgorithmen

Das Unternehmen investiert 78,2 Millionen Euro pro Jahr für Forschung und Entwicklung konzentrierte sich auf die algorithmische Entwicklung.

KI/ML-Investitionskategorie	Jährliche Ausgaben
Forschung & Entwicklung	78,2 Millionen Euro
Ingenieure für maschinelles Lernen	127 Spezialisten

Globales Netzwerk von Sportdatensammlern

Sportradar betreibt a weltweites Datenerfassungsnetzwerk mit präziser geografischer Verteilung.

• Über 5.000 Datenerfasser vor Ort weltweit
• Abdeckung in 190 Ländern
• Echtzeit-Datenübertragungsinfrastruktur

Technisches Talent und datenwissenschaftliche Expertise

Ab 2024 beschäftigt Sportradar Über 2.300 technische Fachkräfte.

Professionelle Kategorie	Anzahl der Mitarbeiter
Datenwissenschaftler	412
Software-Ingenieure	876
Gesamtes technisches Personal	2,300+

Sportradar Group AG (SRAD) – Geschäftsmodell: Wertversprechen

Umfassende Einblicke in Sportdaten in Echtzeit

Sportradar bietet Echtzeit-Sportdatenabdeckung für mehr als 85.000 Veranstaltungen pro Jahr in über 70 Sportarten weltweit. Das Unternehmen verfolgt 1,5 Millionen Live-Events pro Jahr mit Datenerfassung in über 500 Ligen und Wettbewerben.

Datenabdeckungsmetrik	Jahresvolumen
Gesamtzahl der Live-Events	1,5 Millionen
Abgedeckte Sportligen	500+
Jährliche Sportveranstaltungen	85,000

Erweitertes Wett- und Glücksspielrisikomanagement

Der Prozess der Risikomanagementlösungen von Sportradar ist abgeschlossen 250 Milliarden Wetttransaktionen jährlich, wobei eine fortschrittliche algorithmische Erkennung für potenzielle Spielmanipulationen und verdächtige Wettmuster genutzt wird.

• Erkennung von mehr als 5.500 verdächtigen Übereinstimmungen pro Jahr
• Betrugsprävention in Echtzeit in über 180 Ländern
• 99,7 % Genauigkeit bei der Risikoerkennung

Verbesserte Fan-Engagement-Technologien

Sportradar bietet Fan-Engagement-Lösungen und erreicht 1,3 Milliarden Sportfans weltweit über digitale Plattformen und Content-Vertriebsnetzwerke.

Engagement-Metrik	Jährliche Reichweite
Globale Sportfans	1,3 Milliarden
Interaktionen mit digitalen Plattformen	5,2 Milliarden

Vorhersageleistung und statistische Analyse

Sportradar generiert jährlich über 3,5 Millionen Vorhersagemodelle und liefert erweiterte statistische Erkenntnisse für Sportmannschaften, Rundfunkanstalten und Wettanbieter.

• 3,5 Millionen prädiktive Leistungsmodelle
• Algorithmen für maschinelles Lernen mit einer Genauigkeit von 92 %
• Verfolgte Datenpunkte pro Sportereignis: 1.200+

Globale Lösungen zur Monetarisierung von Sportinhalten

Sportradar erwirtschaftet im Jahr 2022 einen Umsatz von 719 Millionen Euro mit Lösungen zur Monetarisierung von Sportdaten, die mehr als 1.100 Kunden in 120 Ländern bedienen.

Monetarisierungsmetrik	Jährlicher Wert
Gesamtumsatz (2022)	719 Millionen Euro
Globale Kunden	1,100+
Belieferte Länder	120

Sportradar Group AG (SRAD) – Geschäftsmodell: Kundenbeziehungen

Maßgeschneiderte Datendienstvereinbarungen

Sportradar-Angebote personalisierte Datendienstverträge über mehrere Sportsegmente hinweg:

Kundensegment	Servicelevel	Jährlicher Vertragswert
Professionelle Sportligen	Premium-Datenpaket	750.000 bis 2,5 Millionen US-Dollar
Wettanbieter	Echtzeit-Datenfeeds	350.000 bis 1,2 Millionen US-Dollar
Medienunternehmen	Erweiterte Analytik	$250,000 - $900,000

Technischer Support und Integrationshilfe

Sportradar bietet umfassende technische Integrationsunterstützung:

• Weltweites technisches Support-Team rund um die Uhr
• Engagierte Integrationsingenieure
• API-Dokumentation und Sandbox-Umgebungen
• Durchschnittliche Antwortzeit: 17 Minuten

Regelmäßige Leistungs- und Analyse-Updates

Aktualisierungshäufigkeit	Abgedeckte Datenpunkte	Abdeckungsgenauigkeit
Echtzeit-Updates	50+ Sport	99,8 % Genauigkeit
Wöchentliche Leistungsberichte	Erweiterte Leistungsmetriken	100 % umfassend

Dedizierte Kontoverwaltung

Kontoverwaltungsstruktur:

• 1 dedizierter Account Manager pro Vertragswert von 500.000 US-Dollar
• Vierteljährliche Business-Review-Meetings
• Personalisierte Engagement-Strategie

Technologieberatungsdienste

Beratungstyp	Leistungsumfang	Durchschnittliche Beratungskosten
Datenarchitektur	Maßgeschneiderte Integrationslösungen	$75,000 - $250,000
Beratung zum maschinellen Lernen	Predictive Analytics-Entwicklung	$100,000 - $350,000

Sportradar Group AG (SRAD) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Im Jahr 2023 beschäftigte Sportradar weltweit rund 1.900 Vertriebsprofis. Das Direktvertriebsteam erwirtschaftete im Geschäftsjahr 2022 einen Umsatz von 612,7 Millionen US-Dollar.

Vertriebskanaltyp	Umsatzbeitrag	Geografische Abdeckung
Unternehmensverkauf	287,4 Millionen US-Dollar	35 Länder
Verkäufe im mittleren Marktsegment	195,6 Millionen US-Dollar	22 Länder
Strategisches Account Management	129,7 Millionen US-Dollar	18 Länder

Digitale Online-Plattformen

Sportradar betreibt mehrere digitale Plattformen für mehr als 400 Sportwettenanbieter weltweit.

• Nutzer digitaler Plattformen: 1,2 Millionen monatlich aktive Nutzer
• API-Integrationsendpunkte: 127 einzigartige Datenintegrationskanäle
• Plattformverfügbarkeit: 99,97 % Zuverlässigkeit

Sporttechnologie-Konferenzen

Sportradar nahm im Jahr 2022 an 18 internationalen Sporttechnologiekonferenzen teil und generierte direkte Geschäftsmöglichkeiten in Höhe von 42,3 Millionen US-Dollar.

Strategische Partnerschaften

Partnerkategorie	Anzahl der Partner	Jährlicher Partnerschaftswert
Sportligen	75	156,8 Millionen US-Dollar
Technologieunternehmen	42	87,5 Millionen US-Dollar
Medienorganisationen	63	112,6 Millionen US-Dollar

Webbasierte API-Integrationen

Sportradar bietet über 1.200 Echtzeit-Datenfeeds für über 70 Sportarten.

• Gesamtzahl der API-Kunden: Über 850 globale Kunden
• Tägliche API-Transaktionen: 3,2 Milliarden
• Durchschnittliche API-Antwortzeit: 12 Millisekunden

Sportradar Group AG (SRAD) – Geschäftsmodell: Kundensegmente

Sportwettenanbieter

Sportradar bedient über 1.200 Sportwettenanbieter weltweit, darunter große Unternehmen wie Bet365, William Hill und DraftKings.

Kundentyp	Anzahl der Kunden	Marktabdeckung
Globale Wettanbieter	1,200+	Über 80 Länder
Tier-1-Wettunternehmen	150+	Europäische und nordamerikanische Märkte

Professionelle Sportligen

Sportradar stellt Daten und Dienste für mehr als 250 professionelle Sportligen weltweit bereit.

Ligatyp	Anzahl der Ligen	Sport abgedeckt
Professionelle Ligen	250+	Fußball, Basketball, Tennis, Eishockey
Partnerschaften in der Major League	50+	NFL, NBA, NHL, UEFA

Medien- und Rundfunkunternehmen

Sportradar unterstützt über 500 Medienorganisationen mit Echtzeit-Sportdaten und -Inhalten.

• ESPN
• Sky Sports
• BBC Sport
• DAZN

Sportanalyseunternehmen

Bietet fortschrittliche Datenlösungen für mehr als 100 Sportanalyseunternehmen.

Analysedienst	Anzahl der Kunden	Verarbeitete Datenpunkte
Erweiterte Analytik	100+	Über 300 Millionen Datenpunkte täglich

Digitale Unterhaltungsplattformen

Bedient über 200 digitale Unterhaltungsplattformen mit sportbezogenen Inhalten und Daten.

• Gaming-Plattformen
• Streaming-Dienste
• Fantasy-Sportplattformen
• Entwickler mobiler Anwendungen

Sportradar Group AG (SRAD) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Die Wartungskosten für die Technologieinfrastruktur von Sportradar beliefen sich im Jahr 2023 auf etwa 45,2 Millionen US-Dollar. Dazu gehört:

• Kosten für Cloud-Computing: 18,7 Millionen US-Dollar
• Wartung des Rechenzentrums: 12,5 Millionen US-Dollar
• Netzwerkinfrastruktur: 14 Millionen US-Dollar

Infrastrukturkomponente	Jährliche Kosten (USD)
Cloud-Dienste	$18,700,000
Wartung des Rechenzentrums	$12,500,000
Netzwerkinfrastruktur	$14,000,000

Datenerhebung und -verarbeitung

Jährliche Gesamtausgaben für die Datenerfassung und -verarbeitung: 37,6 Millionen US-Dollar

• Globale Datenerfassungsnetzwerke: 22,3 Millionen US-Dollar
• Echtzeit-Datenverarbeitungssysteme: 15,3 Millionen US-Dollar

Forschung und Entwicklung

F&E-Investitionen für 2023: 62,4 Millionen US-Dollar, was 16,8 % des Gesamtumsatzes entspricht

F&E-Schwerpunktbereich	Investition (USD)
KI und maschinelles Lernen	$24,900,000
Erweiterte Analytik	$19,500,000
Neue Technologieplattformen	$18,000,000

Globale Talentakquise

Gesamtkosten für Talentakquise und Personal: 89,7 Millionen US-Dollar

• Rekrutierungskosten: 12,3 Millionen US-Dollar
• Mitarbeitervergütung: 67,4 Millionen US-Dollar
• Schulung und Entwicklung: 10 Millionen US-Dollar

Marketing und Geschäftsentwicklung

Ausgaben für Marketing und Geschäftsentwicklung: 41,5 Millionen US-Dollar

Marketingkanal	Ausgaben (USD)
Digitales Marketing	$18,700,000
Sportpartnerschaften	$14,200,000
Konferenz- und Eventmarketing	$8,600,000

Sportradar Group AG (SRAD) – Geschäftsmodell: Einnahmequellen

Datenlizenzgebühren

Sportradar erwirtschaftete im Geschäftsjahr 2022 einen Umsatz von 560,3 Millionen Euro, wobei Datenlizenzen einen erheblichen Teil dieses Gesamtumsatzes ausmachen. Das Unternehmen verfügt über Lizenzvereinbarungen mit über 1.200 Sportorganisationen und Medienunternehmen weltweit.

Datenlizenzierungssegment	Finanzielle Details 2022
Gesamtumsatz aus Datenlizenzen	298,7 Millionen Euro
Anzahl globaler Lizenzverträge	Über 1.200 Sportorganisationen
Durchschnittlicher Vertragswert	249.000 € pro Vertrag

Abonnementbasierte Dienste

Die Abonnementdienste von Sportradar zielen auf mehrere Marktsegmente ab, darunter Sportwettenanbieter, Medienunternehmen und professionelle Sportligen.

Abonnementsegment	Umsatz 2022
Gesamter Abonnementumsatz	187,5 Millionen Euro
Aktive Abonnementkunden	Über 850 globale Kunden

Leistungsbasierte Provisionen

Leistungsprovisionen werden durch Wett- und Glücksspielplattformpartnerschaften generiert.

Details zur Leistungsprovision	Zahlen für 2022
Gesamteinnahmen aus Leistungsprovisionen	42,6 Millionen Euro
Anzahl der Wettplattformpartner	Über 400 globale Plattformen

Software-as-a-Service (SaaS)-Lösungen

Sportradar bietet spezialisierte SaaS-Plattformen für Sportanalysen und Wetttechnologien.

• Gesamter SaaS-Umsatz: 31,2 Millionen Euro im Jahr 2022
• Anzahl der SaaS-Plattform-Kunden: Über 250 Sportorganisationen
• Durchschnittlicher jährlicher SaaS-Vertragswert: 124.800 €

Beratungs- und Integrationsdienstleistungen

Spezialisierte Beratungsleistungen ergänzen das Technologieangebot von Sportradar.

Beratungssegment	Finanzdaten 2022
Gesamter Beratungsumsatz	22,5 Millionen Euro
Anzahl der Beratungsaufträge	175 globale Projekte

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.