Global sports platform DAZN narrows losses, looks at IPO potential

Global sports platform DAZN has narrowed its operating loss to US$877.5m for the year, down from its $1.37bn loss reported in 2023, and claims it is on track to turn a profit in 2025.

Leonard Blavatnik

In annual company reports filed this week, DAZN reported an increase in annual revenue from $2.86bn in 2023 to $3.19bn in 2024 which it attributed to securing new sporting events and lowering operating costs.

The report also confirmed that DAZN majority shareholder, Leonard Blavatnik tipped in a further $587m in the platform in 2024 via his investment company Access Industries.

DAZN clarified it had not drawn on additional Blavatnik funds in 2025 but did confirm the $1bn investment made by Saudi Arabia’s Public Investment Fund-owned, sports investment company SURJ, in February of this year which was sought for expansionary measures and to support working capital.

Under that deal DAZN now serves as a key streaming and broadcasting partner for Saudi sports, significantly expanding its reach to a global platform.

The working capital aided the securing of the exclusive rights to the FIFA Club World Cup in May for $1bn and the closure of the $2.2bn acquisition of Australian pay TV outfit Foxtel In April, with former owners News Corp and Telstra taking minority stakes in DAZN as part of the transaction.

In an interview with the Financial Times, chief Shay Segev said that company was considering the potential of an IPO and forecast $5bn in revenue this year.