Date: 28.01.2025

by Adam Dworak

DAZN Reports $1.38bn Loss Amid Revenue Growth and Expansion Efforts

DAZN, the global sports streaming platform, has reported an operating loss of 1.38bn for 2023, marking a significant increase from the 1.06bn loss recorded in 2022. Despite this, the company has seen a 30% rise in revenue, reaching 2.3bn, and a notable improvement in EBITDA, which turned positive at 830m.

Financial Challenges and Strategic Investments

The company attributed its financial losses to “key exceptional items,” likely including high licence fees for major sports tournaments. Under the leadership of CEO Shay Segev, DAZN has continued to invest heavily in media rights and its betting platform, DAZN Bet.

Since its UK launch in 2022, DAZN Bet has expanded into Germany, Spain, and Italy, aiming to capitalize on the growing convergence of media and betting industries.

Expansion and Future Outlook

Over the past three years, DAZN has secured high-profile media rights deals, including partnerships with Ligue 1 in France and the National League System in England.

The company remains optimistic about its future, stating it “expects to continue driving improvements in margin towards profitability.”

DAZN has previously targeted profitability by 2024, leveraging its expanding media rights portfolio and the revenue generated by its sportsbook.

Backing from Access Industries

Since 2016, DAZN has been majority-owned by Len Blavatnik’s investment firm, Access Industries, which has invested a total of $6.7bn in the platform.

This substantial financial backing has enabled DAZN to pursue aggressive expansion strategies, despite ongoing losses.

The company’s focus remains on entering new markets and enhancing its position as a leader in sports streaming and betting.