After reviewing its business operations and downgrading its financial outlook for 2024, Better Collective has begun a restructuring process. The sports media company has appointed co-founder and former COO Christian Kirk Rasmussen as co-CEO. He will serve alongside current CEO Jesper Søgaard. Rasmussen will focus on the company’s long-term strategy as a leader in affiliate marketing.

The company is also changing its organizational structure.

Instead of operating under a region-based model, Better Collective will now be structured into three main back-ends: publishing, paid media, and esports.

“This approach will allow us to more effectively allocate resources across our key brands and move closer to our goal of becoming the leading digital sports media group,” Søgaard told EGR North America.

Each of the new businesses will be managed by separate management teams, allowing for a greater focus on creating shareholder value.

As part of the shift, Better Collective also plans to reinvest in its core businesses, including Action Network, Playmaker, Yardbarker, RotoGrinders, and VegasInsider.

The company began the restructuring after suffering from headcount reductions and deteriorating financial performance. In October 2024, the company laid off more than 300 employees, representing about 15% of its global workforce. In Q3 2024, Better Collective lowered its full-year revenue guidance for the first time since going public. The company had expected full-year revenue in the range of $417.3 million to $449 million, but the actual result was $386.7 million.

North American operations generated $112 million in revenue in 2024, down slightly from $113 million the year before.