Sports streamer DAZN has reportedly recorded a loss of over US$1 billion for its 2019 financial year in spite of increasing consumption.
According to a report by SportsBusiness, DAZN’s 2019 income reached US$878 million – a marked improvement from the US$497.8 million made in 2018. While revenues have increased, the company’s losses have seen a similar fate as the sports disruptor continued expanding its rights portfolio. The outlet reports that DAZN’s 2019 losses were at US$1.4 billion, up from the 2018 total losses of US$659.1 million.
The report also noted that DAZN ended 2019 with almost eight million subscribers, and that it made more than US$100 million from ad revenue.
DAZN followed 2019 with a significant 2020 that ended with the launch of the platform in 200 markets in spite of the Covid-19 pandemic. Subscribers may be down for the year, with many sports being altered and consumer purse-strings tightening, but the company set itself up for the future with many significant rights grabs, such as the Bundesliga and Champions League in Germany, and by signing a number of key distribution deals with pay TV operators.
Also in 2020, DAZN divested interest in non-core assets such as Goal.com, Spox and VoetbalZone in an effort to streamline its business.
ICYMI: WarnerMedia’s HBO Max hires exec from Mid-East streamer Shahid to lead in Lat Am digitaltveurope.com/2021/01/20/war… https://t.co/ybETQmdPZc
20 January 2021 @ 20:00:00 UTC
ICYMI: Paramount+ reveals launch dates for US, Canada, Nordics and Australia digitaltveurope.com/2021/01/20/par… https://t.co/3h5q3kcTqF
20 January 2021 @ 19:00:00 UTC