2023 DAZN Group losses widen to $1.4bn

DAZN Group reportedly lost $1.4 billion (£1,12bn) in 2023, up from $1.2 billion (£960m) the years before.

The Financial Times has revealed the numbers in an interview with DAZN CEO Shay Segev, in which Segev also says that the company is now profitable in most of its top ten markets - although this isn’t evident in the 2023 accounts, which will be available on Companies House from next week.

The report also claims that Sir Leonard Blavatnik, founder of DAZN’s principal shareholder, Access Industries, has injected $827m into the business.

Separately, ahead of the accounts becoming available, DAZN revealed that, “between 2021 and 2024, DAZN more than doubled its revenues to $3.4 billion (£2.72bn), with revenues projected to reach $6 billion (£4.8bn) in 2025.” It also claims an increase in “underlying profitability” of over 50% in 2024, and a “total adressable market” of $500 billion (£400.03bn). 

Segev said of these latter results: “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.

“Our mission is clear: to build the biggest sports entertainment company by connecting fans everywhere to the sports they love; and this creates an incredible network effect, which is unique to DAZN.

“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.

“It’s a statement of intent and demonstrates our commitment to becoming the global home of sport. It’s about leveraging our first-mover advantage – scaling faster, delivering better experiences, and cementing DAZN’s reputation as the partner of choice for leagues and rights holders.

“Through bold investments, cutting-edge innovation, and strategic partnerships, we are reshaping the sports entertainment landscape and steering it to a digital future. Do not underestimate the scale of what we want to achieve at DAZN as we continue to reimagine the fan experience and lead the industry.”

DAZN recently announced a £1.7bn deal to acquire Australian broadcaster Foxtel, and has been linked with a $1bn (£820m) investment by a Saudi wealth fund as it continues to spend on rights and acquisitions.