DAZN loses another $936m
October 8, 2025
DAZN losses fell to $936 million (€804.5m) in 2024, down from $1.4 billion the year before. The sports streaming platform posted saw revenues increase by $323 million to $3.2 billion in 2024. CEO Shay Segev told the FT that the group was on course to be profitable for the first time in 2026 and had started to think about a potential IPO.
“We’re aiming for at least $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.”
The accounts show the company received $587 million in support from its majority shareholder, Blavatnik’s Access, up from $240 millionn in 2023. Billionaire Sir Leonard Blavatnik has made a total investment above $7 billion in under a decade. No further money from Access has been required so far this year, and Segev, adding that DAZN hoped this would be the first year without relying on its parent company for support.
“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,” he said.
The accounts also confirm the injection of $1 billion into the group by Surj, a sports investment company owned by Saudi Arabia’s Public Investment Fund, which the filings say will be used for working capital and new investments.
DAZN has struck a number of deals over both new sports content as well as corporate takeovers since the end of the financial year reported in the accounts. In April, DAZN took control of Australian pay-TV platform Foxtel in a deal worth around $2.2 billion – which was paid in part in shares to owners News Corp and Telstra. News Corp now owns 6 per cent and Telstra has 3 per cent.
In May, DAZN made a $1 billion deal to become the exclusive rights holder for the FIFA Club World Cup in the US. The group made the tournament free to view worldwide this summer to help build brand awareness in new markets. Segev aspires to reach 1 billion active users for a site that he wants to style as the “Spotify of sport,” combining live games and boxing with fan areas, stats and betting.
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