Genius Sports has added Robert J. “Robbie” Bach to its board of directors, according to a press release. Mr. Bach began his duties as an independent director on Monday.
Mr. Bach brings a variety of experience from his long stint at Microsoft, where he previously served as the company’s “Chief Xbox Officer” and Head of Entertainment and Devices. Bach led the launch of Microsoft’s initial console, the Xbox, in 2001. He also spearheaded the launch of Xbox Live and development of Xbox 360 in 2005.
After taking the helm of the Xbox division, Mr. Bach was promoted to president of Microsoft’s Entertainment and Devices Group, where he led the expansion of the software company’s entertainment efforts into the games, mobile, music and video divisions. He was responsible for the development of two additional hardware products, the Zune music player and Windows Phone.
“Genius Sports has experienced exceptional growth through its advanced technology and global reach,” Bach said in a release. “I am thrilled to have the opportunity to work with such a talented and visionary team.”
Genius Sports has been providing data to the sports betting industry since 2019, partnering with over 400 different sports leagues around the world to capture and evaluate player data. The company hopes Bach’s presence will further boost its consumer-facing push as it moves into Internet advertising.
Genius partnered with X (formerly Twitter) to sell customized ad campaigns through the Trend Genius advertising platform during the ongoing NFL season. Trend Genius relies on real-time user data and is typically able to cast a wide net through high engagement on social media platforms during the season. The company claimed that the technology was a huge success during the Paris Olympics.
Bach’s experience could be an asset to Genius’ gaming platform. The company offers several free games built for MLB, NFL, FIFA, and the Buffalo Wild Wings, which frequently advertises during football and basketball broadcasts.
In August, the data provider posted better-than-expected revenue of $95.5 million in Q2 2024 and is expected to grow 20% annually for now thanks to exclusive multi-year data rights to the NFL and England. told Wall Street. premier league. The rights to the NFL, one of Genius Sports’ major shareholders, do not expire until 2028, while the Premier League rights expire in 2029.
However, the company missed second-quarter net loss expectations, with a net loss of 9 cents per share, compared to the average estimate of 3 cents among 13 analysts, according to S&P Global Market Intelligence.
