the Financial Times,<\/a> DAZN\u2019s annual losses narrowed to \u00a3936 million last year, down from \u00a31.4 billion the previous year. The group\u2019s 2024 revenue climbed by \u00a3323 million to reach \u00a33.2 billion, supported by the addition of new sporting events to its global lineup.<\/p>\nDAZN chief executive Shay Segev told the Financial Times the company expected to turn a profit for the first time next year and had begun preparing for a possible initial public offering (IPO).<\/p>\n
\u201cWe\u2019re aiming for at least \u00a35bn in revenues for this year,\u201d Segev said.<\/p>\n
\u201cThe 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.\u201d<\/p>\n
The latest accounts show that DAZN\u2019s majority shareholder, Blavatnik\u2019s Access Industries, provided \u00a3587 million in additional financial support during 2024 \u2014 a sharp rise from \u00a3240 million in 2023. However, Segev said no further funding had been required this year, marking what could be the platform\u2019s first period of financial independence from its parent.<\/p>\n
\u201cThis business has a very big potential to generate a lot of free cash.<\/p>\n
Happily, we have now reached the point. Our shareholders believe in this business. They put a lot of investment in this business,\u201d he said.<\/p>\n
The filings also confirmed a \u00a31 billion capital injection from Surj, a sports investment firm owned by Saudi Arabia\u2019s Public Investment Fund, to support DAZN\u2019s working capital and new investment opportunities.<\/p>\n
\u201cIt\u2019s a global platform, and to accelerate [growth] we probably need to have more capital,\u201d Segev said, adding that additional funding could come from \u201cpublic markets or private investors.\u201d<\/p>\n
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Since the end of the reported financial year, DAZN has expanded both its content offering and corporate footprint. In April, the group took control of Australian pay-TV company Foxtel in a \u00a32.2 billion deal, part-paid in shares to former owners News Corp and Telstra, which now hold 6 per cent and 3 per cent stakes respectively.<\/p>\n
The following month, DAZN struck a \u00a31 billion deal with FIFA to secure exclusive rights to the FIFA Club World Cup in the US \u2014 making the event free to stream worldwide to boost visibility in new markets.<\/p>\n
Segev described DAZN\u2019s ambition to become the \u201cSpotify of sport\u201d, combining live broadcasts with fan engagement tools, statistics and betting features, and said the group aimed to reach 1 billion active users globally.<\/p>\n
\u201cWe always knew that this is a journey to build a global digital platform [and] we\u2019re starting to see the result of all the investment that we are putting in,\u201d Segev said.<\/p>\n
\u201cWe are now at the tipping point. I would say that we are now the biggest football platform in the world.\u201d<\/p>\n
Source: Financial Times<\/a><\/p>\n– Advertisement –<\/p>\n
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