DAZN, the sports streaming service founded by Sir Leonard Blavatnik, has received an additional $827 million investment. This brings Sir Leonard's total investment in the company to $6.7 billion, according to the Financial Times. While the company is expected to report further significant losses next week, DAZN's financial performance shows signs of growth.
A company update revealed that DAZN more than doubled its revenue between 2021 and 2024, reaching $3.4 billion. The company projects revenue to hit $6 billion by 2025, and reported an increase in underlying profitability of over 50% in 2024. DAZN currently boasts 300 million regular viewers and is aiming for a billion users.
“2024 was a landmark year for DAZN, but we are only getting started. As we step into 2025, our ambitions are bigger than ever. Our aim to reach one billion global users reflects the scale of our vision, and – as the only global direct-to-consumer sports platform – we are well-positioned to make this a reality,” said Shay Segev, DAZN Group CEO. “This ambition drives everything we do, and it requires bold, strategic moves that allow us to establish dominance in key markets quickly and effectively. Our recent agreement to acquire Australia’s leading sports and entertainment business – Foxtel Group – is a perfect example of this strategy in action.”
The acquisition of Foxtel Group, costing $2.2 billion, is a significant step in DAZN's expansion. The company also extended content rights with the Bundesliga, Serie A, and the Pro League, and achieved a landmark broadcasting event with the Tyson Fury and Oleksandr Usyk boxing match. Rumours of a $1 billion investment from Saudia Arabia's sovereign wealth fund remain unconfirmed.