SEGG Media Corporation (NASDAQ: SEGG, LTRYW) has announced a strategic investment in Veloce Media Group, highlighting its ambition to lead in the digital motorsports media sector. This investment includes Veloce's recent acquisition of Quadrant, a motorsport and content brand co-founded by Formula 1 driver Lando Norris, funded by the initial tranche of SEGG's $7.59 million subscription agreement. SEGG now holds a 12.4% stake in Veloce, with the option to increase ownership to 51%.
Veloce Media Group, with reported FY2024 revenue of $17.5 million and 750 million monthly digital views, alongside Quadrant's strong brand equity and notable shareholders such as Zak Brown and Adrian Newey, presents a valuable asset for SEGG. This strategic move is part of SEGG's broader plan to expand its influence in the sports and entertainment industries through its Sports.com division, aiming to enhance fan engagement and content delivery in the rapidly growing digital sports content market.
