Len Blavatnik invest further US$827m’ into DAZN, sports streaming service

Sir Leonard Blavatnik has injected a further US$827 million into DAZN, taking his total investment in the sports streaming service to more than US$6.7 billion, according to the Financial Times (FT).

The latest outlay from Blavatnik (pictured above), the founder of DAZN’s principal shareholder Access Industries, comes as the streaming platform prepares to post its financial results at the UK’s Companies House next week, which will reportedly show more heavy losses for the company.

According to the FT, total group losses widened to US$1.4 billion, up from US$1.2 billion the year prior.

DAZN later disclosed to SportsPro that revenue increased 30 per cent year-over-year (YoY) to US$2.9 billion, driven by subscriber growth, increased average revenue per user (ARPU), new products and services and expanding advertising revenue. The company added that DAZN operating losses were reduced from US$1.1 billion to US$830 million.

DAZN chief executive Shay Segev told the FT that, although not reflected in the 2023 financial results, the company is now profitable in most of the top-ten markets in which it operates.

Segev added that he expects DAZN’s revenues to surpass US$6 billion in 2025, driven in part by additional income from its AUS$3.4 billion (US$2.2 billion) acquisition of Australian pay-TV giant Foxtel and reported US$1 billion deal for the rights to the 2025 Fifa Club World Cup.

DAZN has lined up a AUS$1.8 billion (US$1.1 billion) loan to finance its purchase of Foxtel, according to Bloomberg.

“We see a clear path to create massive shareholder value,” Segev told the FT. “We’re going to be the global home for sport. If you are a sports fan anywhere in the world, you are going to know DAZN.”

To do that, DAZN has set its sights on becoming an all-encompassing digital sports platform, with subscription revenue just one source of income. The company has invested heavily in technology to offer betting, ecommerce, ticketing and other forms of content, alongside its core live sports proposition. The streamer also rolled out a free tier to help attract more subscribers into its ecosystem.

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