Better Collective is undergoing a restructuring after a review of the business and lower 2024 financial projections. The digital sports media company has appointed co-founder and former COO Christian Kirk Rasmussen as co-CEO alongside Jesper Søgaard. Rasmussen will focus on Better Collective’s long-term strategy as an affiliate leader.
Better Collective is also reorganizing. The company is no longer operating regionally but will instead be structured into three verticals: Publishing, Paid Media and Esports. “By doing this we can allocate resources more efficiently to our core brands and align with our vision of becoming the leading digital sports media group,” Søgaard told EGR North America. Better Collective’s new business segments will be led by new management so the leadership team can focus on returning value to shareholders. As part of the shift in focus Better Collective will also re-invest in its core assets including Acton Network, Playmaker, Yardbarker, RotoGrinders and VegasInsider.
Better Collective Makes Cuts
Better Collective is making changes after a round of layoffs and lower projections. In Q3 2024 Better Collective lowered its full year 2024 revenue projection—the first time the company has done so since going public on Nasdaq Stockholm. Better Collective previously projected full year 2024 revenue to be between $417.3 million and $449 million. The company’s actual full year revenue was $386.7 million. In 2024 North America generated $112 million in revenue. In 2023 the segment generated $113 million. Better Collective also laid off over 300 people in October 2024. The company decided to cut jobs after reviewing operational costs. The layoffs in October 2024 were approximately 15% of Better Collective’s global workforce.
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