World news
๐ DAZN shrinks losses and prepares for IPO
The streaming platform DAZN significantly improved its financial performance for 2024: losses were reduced to $936 million (down from $1.4 billion), and revenue grew to $3.2 billion.
CEO Shay Segev told the FT that the group will become profitable in 2026 and is already exploring the possibility of an IPO. DAZN is targeting $5 billion in revenue in 2025, with key markets already profitable.
Key Developments:
๐ธ A $1 billion injection of new investment from Surj, a company owned by the Public Investment Fund (PIF) of Saudi Arabia’s sovereign wealth fund, has been confirmed.
๐ธ DAZN hopes that 2025 will be the first year that does not require financial support from majority shareholder Leonard Blavatnik (whose total investments have exceeded $7 billion).
๐ธ DAZN has purchased the Australian platform Foxtel and secured a $1 billion deal for exclusive rights to the FIFA Club World Cup in the US.
Shay Segev stated his goal is to make DAZN the “Spotify of sports,” aiming to reach 1 billion active users.
