DAZN: $1.3bn losses in 2020
February 24, 2022
DAZN, the sports streaming platform, has filed its accounts for 2020, showing recorded total losses of $1.3 billion (€1.16bn) – similar to the previous year – as it dealt with coronavirus lockdowns shutting down global sports leagues.
“When sports content resumed in the latter half of the year, the group saw improved subscriber and revenue growth,” the accounts said. This boosted subscriber revenues – although subscriber numbers were not shared.
Operating costs fell almost 27 per cent to $2 billion, primarily because DAZN spent less on the rights to broadcast sports as a result of rebates and contract terminations during the pandemic.
Delayed accounts for the year to December 2020 show that revenues increased to $871.8 million from a restated $819 million the previous year, according to Companies House.
DAZN was recently in talks to buy out BT Sport – and, with it, valuable Premier League and Champions League football rights in the UK – but Discovery swooped in and closed a deal instead.
In recent days, DAZN agreed a new $4.3 billion financing arrangements with Access Industries, the holding company owned by billionaire investor Sir Len Blavatnik.