Catena Media streamlines content and marketing teams, reducing annual costs by EUR 2.2m
Catena Media plc today announces further measures to streamline the company’s content production and content marketing teams as part of its ongoing transition to a leaner, product-led organisation.
Rightsizing the content marketing teams will deliver a flatter organisational structure and create closer alignment with product goals. The changes will involve the termination of 29 positions, giving rise to severance costs of approximately EUR 0.4m. The programme will generate a net annual cost saving of approximately EUR 2.2m, effective from 1 November 2024.
The changes represent part of management’s strategy to focus more on product development, to address monetisation efforts to a smaller core of flagship products, and to diversify revenue streams. The content team plays a vital role in Catena Media’s success, and refining its alignment will allow the company to diversify its funnel through investments in marketing, SEO, conversion rate optimisation and technology.
Catena Media CEO Manuel Stan said: “As part of our drive to embed our new product-led organisation, we are optimising the operational teams to achieve a flatter structure that is more closely aligned with our product goals. Today, our priority is to support all the individuals who are affected by the changes.”
Contact details for further information:
Investor Relations
Email: ir@catenamedia.com
Manuel Stan, CEO
Email: manuel.stan@catenamedia.com
Michael Gerrow, CFO
Email: michael.gerrow@catenamedia.com
This information is information that Catena Media plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the contact persons above on 22 October 2024 at 18:00 CEST.
About Catena Media
Catena Media is a leader in generating high-value leads for operators of online casino and sports betting platforms. The group’s large portfolio of brands guides users to customer websites and enriches the experience of players worldwide. Headquartered in Malta, the group employs over 200 people globally. The share (CTM) is listed on Nasdaq Stockholm Mid Cap. For further information see catenamedia.com.