DAZN worldwide: revenues continue to grow, but 2023 ends with a €1.4 Billion Loss. Blavatnik injects €800 Million | OneFootball

DAZN closed its 2023 financial year on December 31 with revenues rising to $2.8 billion (€2.7 billion), compared to $2.2 billion in 2022. Despite this growth, the company reported a worsening net loss of $1.45 billion (€1.4 billion), primarily driven by increased investments in TV rights. These figures come from the streaming platform’s 2023 financial statements, recently published in the UK Companies Register and reviewed by Calcio e Finanza.

DAZN annual report: revenue Breakdown

Total revenues for reached $2.86 billion, of which $2.8 billion came from subscription revenue, up from $2.1 billion in 2022. Meanwhile, approximately €55 million stemmed from broadcasting partnerships, down from €74 million in 2022. Regionally:

DAZN annual report: cost Analysis

Operational costs surged to $4.2 billion (€4 billion), largely due to a significant rise in TV rights expenses, which reached $3.1 billion (€2.97 billion)—an increase of $757 million compared to 2022. DAZN’s long-term commitments for TV rights exceed $9.3 billion through 2033.

The acquisition of Eleven Sports, finalized in 2023, also contributed an additional €210 million in costs. However, there were reductions in other areas:

Net Results

Operating losses improved by approximately $300 million due to operational efficiencies. However, net losses rose to $1.45 billion, up from $1.25 billion in 2022. Over the last five years, DAZN’s cumulative global losses have reached $7.7 billion (€7.3 billion), averaging $1.5 billion annually.

Despite these challenges, CEO Shay Segev highlighted that most of DAZN’s top 10 markets are now profitable. He projected that revenues could surpass $6 billion by 2025.

Blavatnik’s Investments

To cover the growing losses, majority shareholder Len Blavatnik provided significant financial support in 2023 and 2024. In 2023, he injected $240 million, followed by an additional $587 million through September, totaling $827 million (€790 million). Since 2016, Blavatnik’s total contributions to DAZN have amounted to $6.3 billion.

2024 Expansion and Saudi Investment

In 2024, DAZN expanded its international footprint by acquiring Australian group Foxtel in a deal valuing the company at $2.2 billion. This acquisition boosts DAZN’s estimated valuation to approximately $10 billion.

Meanwhile, Saudi Arabia’s Public Investment Fund (PIF) is reportedly preparing to invest $1 billion for a 10% stake in DAZN, marking another potential milestone for the company.