SPORTRADAR GROUP AG (SRAD): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie sportive, le groupe Sportradar AG (SRAD) apparaît comme une puissance transformatrice, révolutionnant comment les données sportives animent le divertissement, les paris et l'analyse mondiaux. En tirant parti des technologies de pointe et un vaste réseau de perspectives sportives, cette entreprise innovante s'est positionnée à l'intersection des données, des sports et de l'innovation numérique, offrant une valeur sans précédent aux ligues, aux sociétés de médias, aux opérateurs de paris et aux fans du monde entier. Leur toile de modèle commercial unique révèle un écosystème sophistiqué qui transforme les données sportives brutes en intelligence stratégique, créant plusieurs sources de revenus et redéfinissant le paysage de la technologie sportive.

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: partenariats clés

Ligues sportives et fédérations

Sportradar a des partenariats de données officielles avec:

Ligue / fédération	Détails du partenariat
NFL	Droits de données exclusives depuis 2015
NBA	Fournisseur de données officiel depuis 2013
FIFA	Données mondiales et partenaire de streaming

Fournisseurs de données et partenaires technologiques

Les collaborations clés de la technologie comprennent:

• Microsoft Azure Cloud Infrastructure Partnership
• Contrat de traitement des données d'Amazon Web Services (AWS)
• Oracle Database and Analytics Solutions

Opérateurs de paris et plateformes de jeu

Partenaire	Portée du partenariat
BET365	Intégration de données sportives en temps réel
Drabings	Services complets de données de paris sportifs
William Hill	Global Data Feed and Risk Management

Sociétés de médias et diffuseurs

• Partenariat de contenu ESPN
• Collaboration de données Sky Sports
• Dazn Streaming Data Services

Fournisseurs de services cloud et d'infrastructure

Les partenariats d'infrastructure comprennent:

Fournisseur	Type de service
Google Cloud	Apprentissage automatique et traitement des données
Cloud IBM	Infrastructure d'analyse avancée

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: Activités clés

Collecte et analyse des données sportives

Sportradar recueille des données de plus de 550 000 événements en direct par an sur 70+ sports à l'échelle mondiale. L'entreprise emploie plus de 1 300 collecteurs de données et utilise technologies de suivi en temps réel.

Métriques de collecte de données	Volume annuel
Événements sportifs en direct	550,000+
Sports couverts	70+
Collecteurs de données	1,300+

Solutions de paris sportifs en temps réel

Sportradar fournit des solutions de paris à plus de 200 opérateurs dans 120 pays, générant 612,3 millions de dollars de revenus liés aux paris en 2022.

• Plus de 200 opérateurs de paris servis
• 120 pays couverts
• 612,3 millions de dollars de revenus liés aux paris (2022)

Technologies de visualisation des données avancées

Développe des plates-formes de visualisation qui traitent 3,5 millions de points de données par correspondance avec une précision de 99,9%.

Apprentissage automatique et modélisation prédictive

A investi 78,2 millions de dollars en R&D en 2022, en se concentrant sur l'IA et les technologies d'apprentissage automatique.

Investissement en R&D	Montant
Dépenses de R&D annuelles	78,2 millions de dollars

Distribution mondiale de contenu sportif

Distribue le contenu de plus de 1 200 clients de médias dans le monde, couvrant les droits de diffusion pour plusieurs ligues sportives.

• 1 200+ clients de médias
• Réseau de distribution de contenu global

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: Ressources clés

Plateforme de données de données sportives propriétaires

Depuis 2024, les processus de plate-forme propriétaire de Sportradar 3,7 millions d'événements en direct par an à travers plus de 85 disciplines sportives et sports. La plate-forme gère Plus de 1,2 pétaoctets de données par an.

Métrique de la plate-forme	Valeur quantitative
Événements en direct annuels traités	3,7 millions
Disciplines sportives / sport couvertes	85+
Volume de données annuel	1,2 pétaoctets

Données sportives étendues et bases de données statistiques

Sportradar maintient Des données historiques s'étendant sur 30 ans dans plusieurs catégories sportives.

• Couverture de plus de 750 000 matchs / événements par an
• Collecte de données en temps réel à partir de 350+ ligues mondiales
• La base de données contient plus de 500 millions de disques sportifs historiques

Algorithmes avancés de l'IA et de l'apprentissage automatique

L'entreprise investit 78,2 millions d'euros par an en R&D axé sur le développement algorithmique.

Catégorie d'investissement AI / ML	Dépenses annuelles
Recherche & Développement	78,2 millions d'euros
Ingénieurs d'apprentissage automatique	127 spécialistes

Réseau mondial de collecteurs de données sportives

Sportradar exploite un réseau mondial de collecte de données avec une distribution géographique précise.

• Plus de 5 000 collecteurs de données sur place dans le monde
• Couverture dans 190 pays
• Infrastructure de transmission de données en temps réel

Talent technique et expertise en science des données

En 2024, le Sportradar emploie 2 300+ professionnels techniques.

Catégorie professionnelle	Nombre d'employés
Data scientifiques	412
Ingénieurs logiciels	876
Personnel technique total	2,300+

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: propositions de valeur

Informations complètes sur les données sportives en temps réel

Le Sportradar offre une couverture de données sportives en temps réel pour plus de 85 000 événements par an sur plus de 70 sports à l'échelle mondiale. La société suit 1,5 million d'événements en direct par an avec une collecte de données dans plus de 500 lieues et compétitions.

Métrique de couverture des données	Volume annuel
Total des événements en direct	1,5 million
Ligues sportives couvertes	500+
Événements sportifs annuels	85,000

Gestion des paris avancés et des risques de jeu

Le processus des solutions de gestion des risques du Sportradar sur 250 milliards de transactions de paris chaque année, en utilisant la détection algorithmique avancée pour les modèles potentiels de fixation de match et de paris suspects.

• Détection de plus de 5 500 matchs suspects par an
• Prévention de la fraude en temps réel dans plus de 180 pays
• Précision de 99,7% dans l'identification des risques

Technologies d'engagement des fans améliorés

Sportradar fournit des solutions d'engagement des fans atteignant 1,3 milliard de fans de sport dans le monde entier grâce à des plateformes numériques et à des réseaux de distribution de contenu.

Métrique de l'engagement	Portée annuelle
Fans de sport mondiaux	1,3 milliard
Interactions de plate-forme numérique	5,2 milliards

Performance prédictive et analyse statistique

Le Sportradar génère plus de 3,5 millions de modèles prédictifs par an, fournissant des informations statistiques avancées aux équipes sportives, aux diffuseurs et aux opérateurs de paris.

• 3,5 millions de modèles de performances prédictifs
• Algorithmes d'apprentissage automatique avec une précision de 92%
• Points de données suivis par événement sportif: 1 200+

Solutions de monétisation du contenu sportif mondial

Le Sportradar génère 719 millions d'euros de revenus pour 2022, avec des solutions de monétisation des données sportives desservant plus de 1 100 clients dans 120 pays.

Métrique de monétisation	Valeur annuelle
Revenu total (2022)	719 millions d'euros
Clients mondiaux	1,100+
Pays desservis	120

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: relations avec les clients

Accords de services de données personnalisés

Sportradar Offres Accords de services de données personnalisés À travers plusieurs segments sportifs:

Segment de clientèle	Niveau de service	Valeur du contrat annuel
Ligues sportives professionnelles	Package de données premium	750 000 $ - 2,5 millions de dollars
Opérateurs de paris	Flux de données en temps réel	350 000 $ - 1,2 million de dollars
Sociétés de médias	Analytique avancée	$250,000 - $900,000

Aide technique et assistance à l'intégration

Sportradar fournit un support d'intégration technique complet:

• Équipe mondiale de support technique 24/7
• Ingénieurs d'intégration dédiés
• Documentation de l'API et environnements de bac à sable
• Temps de réponse moyen: 17 minutes

Mises à jour régulières des performances et de l'analyse

Mettre à jour la fréquence	Points de données couverts	Précision de la couverture
Mises à jour en temps réel	50+ sports	Précision de 99,8%
Rapports de performance hebdomadaires	Métriques de performance avancées	100% complet

Gestion de compte dédiée

Structure de gestion des comptes:

• 1 gestionnaire de compte dédié par valeur contractuelle de 500 000 $
• Réunions de révision des entreprises trimestrielles
• Stratégie d'engagement personnalisée

Services de consultation technologique

Type de consultation	Portée du service	Coût de consultation moyen
Architecture de données	Solutions d'intégration personnalisées	$75,000 - $250,000
Conseil d'apprentissage automatique	Développement de l'analyse prédictive	$100,000 - $350,000

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2023, Sportradar a employé environ 1 900 professionnels de la vente dans le monde. L'équipe de vente directe a généré 612,7 millions de dollars de revenus au cours de l'exercice 2022.

Type de canal de vente	Contribution des revenus	Couverture géographique
Ventes d'entreprise	287,4 millions de dollars	35 pays
Ventes à mi-parcours	195,6 millions de dollars	22 pays
Gestion de compte stratégique	129,7 millions de dollars	18 pays

Plateformes numériques en ligne

Sportradar exploite plusieurs plateformes numériques desservant plus de 400 opérateurs de paris sportifs dans le monde.

• Utilisateurs de plate-forme numérique: 1,2 million d'utilisateurs actifs mensuels
• Points de terminaison d'intégration de l'API: 127 canaux d'intégration de données uniques
• Avance de la plate-forme: fiabilité de 99,97%

Conférences de technologie sportive

Sportradar a participé à 18 conférences internationales de technologies sportives en 2022, générant 42,3 millions de dollars d'opportunités commerciales directes.

Partenariats stratégiques

Catégorie de partenaire	Nombre de partenaires	Valeur de partenariat annuelle
Ligues sportives	75	156,8 millions de dollars
Entreprises technologiques	42	87,5 millions de dollars
Organisations de médias	63	112,6 millions de dollars

Intégrations API basées sur le Web

Sportradar fournit plus de 1 200 aliments de données en temps réel dans plus de 70 sports.

• Clients API totaux: 850+ clients mondiaux
• Transactions API quotidiennes: 3,2 milliards
• Temps de réponse moyen de l'API: 12 millisecondes

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: segments de clientèle

Opérateurs de paris sportifs

Le Sportradar dessert plus de 200 opérateurs de paris sportifs dans le monde, y compris les grandes entreprises comme BET365, William Hill et DraftKings.

Type de client	Nombre de clients	Couverture du marché
Opérateurs de paris mondiaux	1,200+	Plus de 80 pays
Sociétés de paris de niveau 1	150+	Marchés européens et nord-américains

Ligues sportives professionnelles

Sportradar fournit des données et des services à plus de 250 ligues sportives professionnelles dans le monde.

Type de ligue	Nombre de ligues	Sports couverts
Ligues professionnelles	250+	Soccer, basket-ball, tennis, hockey sur glace
Partenariats des ligues majeures	50+	NFL, NBA, NHL, UEFA

Médias et sociétés de radiodiffusion

Sportradar prend en charge plus de 500 organisations de médias avec des données sportives en temps réel et du contenu.

• ESPN
• Sky Sports
• BBC Sport
• Dazn

Entreprises d'analyse sportive

Fournit des solutions de données avancées à plus de 100 sociétés d'analyse sportive.

Service d'analyse	Nombre de clients	Points de données traités
Analytique avancée	100+	300 millions + points de données par jour

Plateformes de divertissement numériques

Servit plus de 200 plates-formes de divertissement numériques avec du contenu et des données liés au sport.

• Plates-formes de jeu
• Services de streaming
• Plateformes sportives fantastiques
• Développeurs d'applications mobiles

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques de Sportradar pour 2023 étaient d'environ 45,2 millions de dollars. Cela comprend:

• Dépenses de cloud computing: 18,7 millions de dollars
• Maintenance du centre de données: 12,5 millions de dollars
• Infrastructure réseau: 14 millions de dollars

Composant d'infrastructure	Coût annuel (USD)
Services cloud	$18,700,000
Maintenance du centre de données	$12,500,000
Infrastructure réseau	$14,000,000

Collecte et traitement des données

Dépenses annuelles totales pour la collecte et le traitement des données: 37,6 millions de dollars

• Réseaux de collecte de données mondiales: 22,3 millions de dollars
• Systèmes de traitement des données en temps réel: 15,3 millions de dollars

Recherche et développement

Investissement en R&D pour 2023: 62,4 millions de dollars, représentant 16,8% du total des revenus

Zone de focus R&D	Investissement (USD)
IA et apprentissage automatique	$24,900,000
Analytique avancée	$19,500,000
NOUVELLES PLADENTS TECHNOLOGIES	$18,000,000

Acquisition mondiale de talents

Coûts totaux d'acquisition de talents et de ressources humaines: 89,7 millions de dollars

• Frais de recrutement: 12,3 millions de dollars
• Compensation des employés: 67,4 millions de dollars
• Formation et développement: 10 millions de dollars

Marketing et développement commercial

Dépenses de marketing et de développement des entreprises: 41,5 millions de dollars

Canal de marketing	Dépenser (USD)
Marketing numérique	$18,700,000
Partenariats sportifs	$14,200,000
Marketing de conférence et d'événements	$8,600,000

SPORTRADAR GROUP AG (SRAD) - Modèle d'entreprise: Strots de revenus

Frais de licence de données

Le Sportradar a généré 560,3 millions d'euros de revenus pour l'exercice 2022, les licences de données représentant une partie importante de ce total. La société a des accords de licence avec plus de 1 200 organisations sportives et sociétés de médias dans le monde.

Segment des licences de données	2022 détails financiers
Revenu total de licences de données	298,7 millions d'euros
Nombre de contrats de licence mondiaux	1 200+ organisations sportives
Valeur du contrat moyen	249 000 € par contrat

Services basés sur l'abonnement

Les services d'abonnement de Sportradar ciblent plusieurs segments de marché, y compris les opérateurs de paris sportifs, les sociétés de médias et les ligues sportives professionnelles.

Segment d'abonnement	2022 Revenus
Revenu total d'abonnement	187,5 millions d'euros
Clients d'abonnement actifs	850+ clients mondiaux

Commissions basées sur les performances

Les commissions de performance sont générées par le biais de partenariats de plate-forme de paris et de jeu.

Détails de la Commission de la performance	2022 chiffres
Revenus de la Commission de la performance totale	42,6 millions d'euros
Nombre de partenaires de plate-forme de paris	400+ plateformes mondiales

Solutions logicielles en tant que service (SaaS)

Sportradar propose des plateformes SaaS spécialisées pour l'analyse sportive et les technologies de paris.

• Revenu total SaaS: 31,2 millions d'euros en 2022
• Nombre de clients de la plate-forme SaaS: 250+ organisations sportives
• Valeur du contrat annuel moyen SaaS: 124 800 €

Services de conseil et d'intégration

Les services de conseil spécialisés complètent les offres technologiques de Sportradar.

Segment de conseil	2022 données financières
Revenus de consultation totaux	22,5 millions d'euros
Nombre d'engagements de conseil	175 Projets mondiaux

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.