DAZN narrows losses to $936 million in 2024

Sports media company DAZN reported a pre-tax loss of $935.6 million for 2024, an improvement of $501.4 million compared to the previous year. The company’s revenue grew by 11%, rising from $2.86 billion to $3.19 billion.

DAZN said that the main drivers of revenue growth included:

1. expansion into Belgium and Portugal through the acquisition of Eleven Sports
2. growth in advertising operations
3. and the first full year of income from NFL Game Pass International

To support the company, owner Leonard Blavatnik invested $587 million in 2024 (compared to $240 million in 2023).

In total, Blavatnik’s Access Industries has now invested over $7 billion in DAZN over the past nine years.

DAZN CEO Shay Segev told the Financial Times that the company expects to operate without further financial injections from Blavatnik in 2025:

“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,” Segev said.

Segev expressed confidence that DAZN will post its first-ever profit in 2025, adding that the company is also considering an IPO, which was previously delayed in 2023.

“We always knew that this is a journey to build a global digital platform, and we’re starting to see the result of all the investment that we are putting in. We are now at the tipping point. I would say that we are now the biggest football platform in the world.”