Nazara Subsidiary Absolute Sports Acquires Soap Central for $1.4 Million

Absolute Sports, a subsidiary of Nazara Technologies known for operating sports media brands Sportskeeda and Pro Football Network, announced today that it is acquiring all assets of SoapCentral.com for Rs 11.6 crore ($1.4 million) in an all-cash deal. This strategic move enhances Absolute Sports’ presence in the US entertainment publishing sector.

Soap Central, a popular entertainment content destination in the US, was founded by Dan J. Kroll in March 1995. The website offers the latest news, comprehensive daily recaps, sneak peeks, previews, character profiles, and interviews about US television shows. The site boasts approximately 0.4 million monthly visitors and generated revenues of $621,000 (around Rs 5.2 crore) in 2023.

Ajay Pratap Singh, CEO of Absolute Sports, commented on the acquisition: “The entertainment publishing industry is more than twice the size of sports publishing and allows us a great canvas for expansion into multiple content categories. Having tested our content publishing and hyper-growth playbook with the acquisition of Pro Football Network last year, we are confident of scaling Soap Central in a very short time.”

The acquisition of Soap Central is Absolute Sports’ second in the US, following the purchase of sports media firm Pro Football Network for Rs 16 crore ($1.82 million) in March 2023. Absolute Sports plans to use its cash reserves to fund this latest acquisition, which is expected to close within the next 30 days.

This move is part of a broader strategy to expand Absolute Sports’ reach in the US market. The company already operates SK Pop, a pop culture destination providing the latest news and trends related to K-POP and Korean media. The acquisition of Soap Central will enable Absolute Sports to broaden its coverage into multiple new entertainment and pop-culture content categories.

Sportskeeda Inc, the US subsidiary of Absolute Sports, will acquire all of Soap Central’s intellectual property rights, including domain rights, trademarks, content, website, and software codes.

The US remains the largest market for the parent company Sportskeeda, contributing about 69.1 percent of its revenues in FY24. Absolute Sports’ revenue from the region stood at Rs 135.4 crore for FY24, out of total revenues of Rs 196 crore.

In March, Nazara Technologies had announced a $100-million war chest aimed at global expansion over the next 24 months. This acquisition is a significant step in realizing that vision.