Better Collective acquires Playmaker HQ
Playmaker HQ is a sports media firm that operates predominantly on various social media websites. The firm posts more than 2000 pieces of content per month on its channels, which has helped it gather a following of more than 20 million users. Additionally, Playmaker HQ’s content reaches more than 500 million people worldwide, which has helped the firm grow rapidly.
Better Collective’s purchase of the media firm will involve an upfront cash consideration of 15 million dollars, a deferred consideration of 1 million dollars, and a set of performance-based payouts of up to 38 million dollars. The latter will be carried out over the course of the upcoming three years, with the total valuation for the purchase having the potential to reach 54 million dollars.
Under the terms of the deal, Playmakers HQ’s revenue and EBITDA will have to exceed 75 million dollars and 25 million dollars respectively over the course of the first three years after this acquisition to reach the agreement’s maximum amount. The contract has already been finalized and Playmakers HQ has already been consolidated into Better Collective’s portfolio of sports media brands.