Sir Len Blavatnik’s DAZN has reported another year of narrowing losses and fresh capital support, as the sports streaming platform moves closer to profitability following years of heavy investment.
According to accounts filed this week at Companies House, DAZN reduced its pre-tax loss to £935.6 million (€1.09 billion) for 2024, down from £1.37 billion the previous year. Revenues rose to around £3.2 billion, an increase of more than £320 million year-on-year, driven by subscriber growth, sports rights renewals and tighter cost control.
Operating losses also improved, with EBITDA losses cut to £778 million, compared with £1.29 billion (€1.49 billion) in 2023.
The results mark the clearest sign yet that DAZN’s restructuring and focus on cost discipline are beginning to take effect. The company said it has not required any fresh funding from its principal shareholder Access Industries in 2025 to date — a milestone given the group’s past reliance on regular capital injections from Sir Len Blavatnik’s investment vehicle.
Access contributed £587 million of new equity in 2024, bringing its total investment in DAZN to well over £7 billion. The company also confirmed a £1 billion minority investment from Saudi Arabia’s Public Investment Fund, via its Surj Sports Investment arm, to support growth across the Middle East and Asia.
DAZN CEO Shay Segev said the group is targeting a return to profitability next year, with forecasts pointing to revenues of around £5 billion (€5.84 billion) in 2025.
The company continues to expand its global footprint, most recently acquiring Foxtel in Australia and securing exclusive rights to the FIFA Club World Cup in the United States. In Europe, DAZN remains a key broadcaster of top-tier football in markets including Germany, Italy and Spain, while expanding operator partnerships to strengthen its distribution base.
Industry analysts view the latest filing as a sign of financial stabilisation after years of rapid expansion. The continued narrowing of losses and reduced reliance on shareholder funding suggest a move toward a more sustainable operating model.
Segev said DAZN would consider an IPO once profitability is achieved and market conditions are favourable.
The results come as DAZN competes in an increasingly crowded global sports streaming market, facing major rivals including Disney’s ESPN, Warner Bros. Discovery’s Max, and Amazon Prime Video, each expanding their live sports portfolios.
