Pre-tax losses at TNT Sports UK and Ireland – the JV between BT and Warner Bros Discovery – reached £187.5 million for the year to July 31, 2024.
The figure is more than double the £73.4 million for the corresponding figure in 2024 and comes despite an increase in revenues from £1.09 billion to £1.15 billion.
Advertising revenue at TNT Sports increased in the year from £51.1 million to £72.1 million while distribution revenue also rose from £1.03 billion to £1.07 billion.
TNT Sports was created in 2023 after WBD joined BT as a partner in the then BT Sport which went live in 2013.
The accounts are the first to be released following the rebrand, but cover a period before the combination of free-to-air channel Eurosport, which has withdrawn from the UK market.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 gitial and traditional platforms,” the directors said in their statement 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 rights to UEFA Champions League, Premier League football, Premiership Rugby and several England overseas Test cricket tours including India, West Indies and Australia.
