DAZN narrows losses to US$936m in 2024, eyes profit in 2026

• DAZN’s losses improve by US$501.4m in 2024
• Owner Leonard Blavatnik injected a further US$587m into company
• CEO Shay Segev says DAZN is aiming for US$5bn in 2025 revenue

DAZN posted a pre-tax loss of US$935.6 million in 2024, which marks an improvement of US$501.4 million on the deficit it recorded the previous year.

Revenues rose by 11 per cent from US$2.86 billion to US$3.19 billion, attributed to higher subscription revenues, driven by a revamped pricing structure and new acquisitions, and growth in DAZN’s betting and pay-per-view (PPV) operations. 

The company also cited expansions into Belgium and Portugal through the acquisition of Eleven Sports, enhanced advertising operations, and the first full year of revenue from National Football League (NFL) Game Pass International as factors. 

DAZN also said narrower losses were also the result of reductions in operating costs, including rights fees. The company is currently committed to paying US$9.8 billion for rights. 

To combat its losses, DAZN owner Leonard Blavatnik injected US$587 million into the company, an increase from the US$240 million he invested in 2023. This means he and his Access Industries firm has now provided over US$7 billion to the broadcaster over a nine year period.

DAZN also acknowledged it received US$1 billion from Saudi Arabia’s SURJ Sports Investment, a subsidiary of the country’s Public Investment Fund (PIF) earlier this year. The broadcaster noted that the investment provided the company with funding for new investments and working capital, however it also came shortly after DAZN paid US$1 billion for the rights to the 2025 Fifa Club World Cup. 

DAZN chief executive Shay Segev told the Financial Times (FT) that Blavatnik had not put in additional funds into DAZN this year, and said he hoped 2025 would be the first year without needing additional financial support from its owner.

“This business has a very big potential to generate a lot of free cash. Happily, we have now reached the point. Our shareholders believe in this business. They put a lot of investment in this business,” Segev said.

Segev reiterated his hope DAZN would post its first ever profit next year and that it was considering the possibility of launching an initial public offering (IPO) in the future. The company had previously delayed plans to launch an IPO in 2023.

“We’re aiming for at least US$5 billion in revenues for this year,” Segev said. “The margins are improving, our key markets are already profitable in 2025 and we are comfortable saying that in 2026 the group will be profitable as well.

“We always knew that this is a journey to build a global digital platform [and] we’re starting to see the result of all the investment that we are putting in. We are now at the tipping point. I would say that we are now the biggest football platform in the world.”

Credit: https://www.sportspro.com/news/dazn-2024-financial-losses-revenue-october-2025/