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# Q1 2026: Catena Media Rebounds, Gambling.com Group Cuts
- URL: https://www.igamingnews.biz/q1-2026-affiliate-earnings-roundup/
- Published: 2026-06-22T12:00:00.000Z
- Updated: 2026-08-10T15:42:26.000Z
- Description: iGaming affiliate results in Q1 2026 diverged sharply: Catena Media rebounded 26%, Better Collective grew recurring revenue, and Gambling.com cut EBITDA.
- Author: iGamingNews Editorial Desk
- Tags: Affiliate Industry

**iGaming affiliate results split sharply in the first quarter of 2026: Catena Media returned to double-digit growth, Better Collective pushed further into recurring revenue, and Gambling.com Group reported a 43% drop in adjusted EBITDA amid restructuring.** The quarter showed an industry sorting itself by model rather than moving as a block.

Catena Media posted the fastest revenue growth of the major affiliates, with continuing-operations revenue up 26% to 12.3 million euros and adjusted EBITDA up 191% to 2.7 million euros, per [Tribuna](https://tribuna.com/amp/en/casino/blogs/catena-is-back-gamblingcom-cuts-deep-what-q1-revealed-about/?ref=igamingnews.biz). North America generated 95% of its revenue, with casino alone accounting for 88% of the group total.

Better Collective reported revenue of 86 million euros and EBITDA before special items of 25 million euros, with organic growth of 5%, or 9% in constant currencies. Recurring revenue rose to 50 million euros as the company shifted North American operations toward revenue-share deals, with North American revenue-share income up 46% year on year, as covered by [SIGMA](https://sigma.world/news/better-collective-catena-media-scaling-2026/?ref=igamingnews.biz).

The contrast is the story. The affiliates leaning into recurring revenue-share income are trading short-term upfront payments for steadier long-term cash flow, which reads as weaker on a single quarter but stronger over a market cycle. Those still dependent on one-off CPA deals look more exposed when any single market softens.

For operators choosing affiliate partners, the model matters as much as the traffic. A partner built on revenue share has its incentives aligned with player quality and retention. One built on CPA volume does not. The Q1 split makes that distinction commercial reality rather than theory.