News
EN
Genius Sports' media surge shows shift beyond sportsbook data
['Contessa Brewer']
International: Top News And Analysis
Genius Sports is broadening its business beyond supplying data to sportsbooks, using its real-time sports information to build a fast-growing media and advertising platform.
The shift was visible when company reported second-quarter results Thursday.
The reported media increase reflects the addition of Legend, the sports and gaming media company Genius acquired in a deal that closed May 1, but the company said the legacy Genius media business and Legend each grew organically by more than 20%.
"We're using the data that we collect to do a better job and generate better ROIs for brands and agencies using our media transaction services," Locke said.
Genius reported a net loss of $76.7 million, which it said largely reflected costs tied to the Legend acquisition.