GCA Altium Digital, Media & Internet Monitor Q1 2021

GCA Altium is pleased to provide you with the Q1 2021 edition of our Digital, Media & Internet Monitor, which offers a quarterly update on global market data, sector valuations and M&A activity.
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The GCA Altium Digital, Media & Internet Monitor is tailored to the needs of busy executives and investors seeking a comprehensive overview of the M&A and valuation landscape, trend analyses and insights into the current transaction environment.

Key developments in Q1 were:

  • Share price performance was positive/stable across almost all subsectors over the past quarter. Content monetization services continue to outperform the rest of the asset classes (+28.5%) as a result of a fundamental shift in consumer behavior due to the COVID-19 pandemic. Other positive performers in the last three months were Travel (+28.3%) and Diversified & Portals (+17.4%). Since Jan-20, Inventory-based E-commerce has experienced the strongest returns (+98.4%), followed by E-commerce and Marketing Solutions (+62.7%), as well as Gaming (+57.8%), while previous negative performers Travel (+9.5%) and Customer Acquisition (+6.9%) have returned to positive figures./li>
  • EV/EBITDA valuations (2020) indicated positive performance for all subsectors, with Other Online Marketing (+79.0%), Gambling (+51.9%) and Content Monetization (+32.7%) experiencing the highest gains from the rebound.
  • EV/Sales valuations (2020) also pointed towards significant upward trends for all sectors. Gambling showed the largest increases (+35.1%), followed by Travel (+32.4%) and Content Monetization (+19.2%).

* Please note that valuation metrics (EV/EBITDA and EV/Sales) are positively affected by downward adjustments of analysts’ consensus of the companies’ forward-looking financial profiles (e.g. travel sector).

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