Results achieved despite challenging economic climate
BOSTON, April 14 /PRNewswire/ -- StratBridge announced today it has had strong performance driven by the sales of new solutions that enhance its player analysis and ticket optimizations platforms. The rapid adoption of these new solutions, released as modules at the start of the third quarter of 2008, confirms the continued willingness of professional sports teams to invest in tools that improve both the top and bottom lines despite a challenging economic climate.
For the six months from the launch of the new modules through March 31, 2009 as compared to the same period the previous year, StratBridge grew revenue by almost 50%, increased operating earnings dramatically, raised average deal size by over 300%, and added 18 new strategic accounts in professional sports.
During this period, StratBridge has achieved several milestones, establishing it as the leader in sports and live entertainment analytics. With its StratEdge player analysis platform, StratBridge now delivers sophisticated player evaluation tools to over one quarter of the organizations in the National Basketball Association. With its StratTix ticket analysis platform, StratBridge provides advanced ticket analysis solutions to over 25% of the major US pro sports market and basic ticket analysis solutions to over half of that same market.
"This environment has created a unique set of challenges for any organization," said Matt Marolda, StratBridge founder and CEO. "As budgets tighten, offering solutions that increase productivity and improve decision-making is more important than ever. Our markets, where decisions are not only critical but very visible, have positively received this expansion of our platforms. Our results demonstrate the importance of these benefits to professional sports teams."
Harvard, Mass.-based StratBridge provides instant analytics software that enables business people to perform exhaustive diligence research at the touch of a button. StratBridge.net is a Web-native system that seamlessly extracts data from internal and external sources, regardless of format, and visually renders it in Internet browsers and Microsoft Office applications. A variety of customers, including professional sports franchises, institutional and individual investors, consultants and business leaders, use the software to quickly understand complex data patterns. For more information, visit the company's web site at www.stratbridge.com.