GamblersConnect exhibiting at iGaming Club Conference Malaga
AffPapa is excited to announce that GamblersConnect will be exhibiting at the iGaming Club Conference Malaga, scheduled for May 26-27th.Operating under the leading...
Catena Media’s Q1 challenges and strategy changes
Catena Media stated that its poor financial performance in the first quarter of 2024 indicates that it still faces challenges.
The company’s revenue fell by fifty percent over the same period last year, mostly as a result of lower profits from its sports media division in North America. A forty-one percent decline in the number of new depositing customers utilizing its services was another indication of this slump. Pierre Cadena, the company’s acting CEO, characterized the results as disappointing, especially in North American sports, citing fierce competition and operators’ decreased marketing expenditures as the main obstacles.
Catena Media is shifting from basing its business strategy on geographical regions to concentrating on specific products in response to these ongoing issues. With this new approach, the corporation hopes to increase individual employee accountability for their financial performance and improve responsiveness to market changes. Additionally, the company is assembling specialized groups, or “product squads,” to address certain issues as they arise.
The company’s sports network revenue dropped significantly by sixty-eight percent and its casino network revenue similarly declined. The company’s profit margins have decreased significantly overall.
Going forward, Catena Media intends to direct the company’s strategy toward reviving growth in North America and enhancing overall efficiency. This includes the appointment of a new chief executive officer, as well as chief financial officer. By concentrating more on product development and effective leadership, the company hopes to improve its performance in the second half of the year.
Catena Media promotes Edward Midolo to CTO
As part of its ongoing organizational changes, Catena Media has announced the promotion of Edward Midolo to Chief Technology Officer.Following Michael Gerrow's...
