The joint venture between BT and Warner Bros Discovery, TNT Sports UK and Ireland, reported significant pre-tax losses of £187.5 million for the year ending July 31, 2024. This represents a substantial increase compared to the £73.4 million loss recorded in the previous year.
Despite the considerable losses, the company saw a rise in revenue, increasing from £1.09 billion to £1.15 billion. This growth can be attributed to an increase in both advertising and distribution revenue. Advertising revenue jumped from £51.1 million to £72.1 million, while distribution revenue rose from £1.03 billion to £1.07 billion.
TNT Sports, launched in 2023 following WBD's partnership with BT in the former BT Sport (established in 2013), released its first financial report since the rebrand. This report covers a period prior to the withdrawal of Eurosport from the UK market.
“The United Kingdom sports broadcasting sector is a mature market driven by strong demand for live sports content, widely distributed across digital and traditional platforms,” the directors stated in their report to Companies House. “The rise of streaming services offers further opportunities to enhance viewer experiences. The strategy of the company is to capitalise on this strong demand for live sport to deliver growth whilst also developing further product improvements to drive customer value.”
TNT Sports holds significant broadcasting rights, including the UEFA Champions League, Premier League football, Premiership Rugby, and several England overseas Test cricket tours (India, West Indies, and Australia).