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One year after announcing its grandiose Artificial Intelligence (AI) initiative, Catena Media has abandoned it.
Catena is among the largest media and gambling affiliates in the world.
“We have discontinued the AI content generation platform joint venture and recovered EUR 0.7 million of the original investment. We continue to see AI as an important business enhancer, for example, in scaling up content output and quality,” Catena Media CEO Manuel Stan said during the company’s Q4 earnings call on Thursday.
The AI initiative was once dubbed a "cornerstone" of Catena's transformation.
Here is what Bay said during the company's 4th quarter call.
“The cornerstone of our transformation is a new technical platform that will launch in Q1. Once fully rolled out in Q2, this will be the first time Catena Media focuses affiliation activities on a single, coherent tech infrastructure,” Daly said last year.
“Creating this new backbone is a step change that will make us technically far more robust across all products and make it easier to deploy new verticals.”
Catena Media's North American revenue, accounting for 87% of the company's overall revenue, dropped 28% with year-over-year falling from $12.7 million in 2023 to $9.2 million in 2024.
“Sports remains challenging with continued underperformance in Q4 negatively affecting our quarterly margin. North American Casino revenue decreased 12% year-on-year. However, we maintained a healthy margin for this segment.”
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