Foot & Soccer Soccer Match Reports, Football News
January 30 – DAZN posted working losses of $830 million for 2023, elevating additional query marks over the monetary sustainability of the sports activities streaming large.
12 months-on-year, DAZN is posting losses. Whereas DAZN’s revenues rose to $2.9 billion in 2023, the streaming platform recorded a widening lack of $1.4 billion for 2023. It was $1.2 billion in 2022, $2.3 billion in 2021 and $1.3 billion in 2020.
On the identical time, proprietor Leonard Blavatnik injected one other $827 million into DAZN, which takes his whole funding to greater than $6 billion. The streaming service as soon as vowed to turn into the ‘Netflix of Sports activities’, however DAZN has switched its mission assertion to changing into the “Spotify of Sports activities”.
DAZN Chief Government Shay Segev stated he anticipated income to prime $6 billion for 2025 with the acquisition of Australian pay-TV supplier Foxtel and a reported $1 billion injection of Saudi cash. On the identical time, nonetheless, DAZN has earmarked $1 billion for the rights to the 2025 Membership World Cup.
Segev acknowledged: “2024 was a landmark 12 months for DAZN, however we’re solely getting began. As we step into 2025, our ambitions are greater than ever. Our intention to achieve one billion international customers displays the dimensions of our imaginative and prescient, and – as the one international direct-to-consumer sports activities platform – we’re well-positioned to make this a actuality.”
“Our mission is evident: to construct the most important sports activities leisure firm by connecting followers in every single place to the sports activities they love; and this creates an unimaginable community impact, which is exclusive to DAZN.
“This ambition drives every thing we do, and it requires daring, strategic strikes that enable us to ascertain dominance in key markets rapidly and successfully. Our latest settlement to accumulate Australia’s main sports activities and leisure enterprise – Foxtel Group – is an ideal instance of this technique in motion.”
DAZN has stated the streaming service has 300 million month-to-month customers, however the base of paying subscribers is much extra restricted, which in flip has left the corporate struggling to stem losses.
Earlier this month Saudi Arabia, by SURJ, a personal funding agency owned by the dominion’s sovereign wealth fund, closed in on buying as much as a ten% stake within the firm. DAZN declined to touch upon what it labelled as “market hypothesis relating to funding within the group.”
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