Stockholm-listed industry publisher Catena Media is looking to provide new choices to a sports tarved world, as they announced that they are providing ‘alternative revenue streams’ during the crisis. This announcement came in a trading update by the company.

While reporting increases in revenue of 5.7% over the previous year and an adjusted EBITDA increase of 19.9% compared to the same period of time last year, Catena Media also explained that they were concerned that the vast majority of sports leagues and major events were postponed or canceled across the globe.

In response, they announced that they will be “working closely with key operators to promote sports events that are still running. To mitigate the shortfall in Sports revenue, the focus is to increase the Casino business by converting traffic from a number of sports-related sites into Casino revenue and holding back on low-margin media spend.”

Already revenues are down by 35% through the first two months of this year as compared to January and February 2019. While concerned about the impact of that the virus is having on business, they also made it clear that they expect the Covid-19 outbreak “will have no foreseeable negative long-term effects.” The company added that they expect that the worldwide postponement of these sporting events “may contribute with a positive effect in the future when they are rescheduled.”