Sports streaming platform DAZN is reportedly seeking to raise as much as $1bn to continue its rapid global expansion strategy.
Bloomberg reported that DAZN officials have already held conversations with potential investors to raise capital as part of a potential investment round, with a $1bn ballpark figure being revealed by an undisclosed source.
This comes as DAZN is due to release its 2023 financial results, which are expected to reveal narrow losses compared to that of the year prior.
Fresh investment would indicate that DAZN will continue its large-scale growth across multiple sports and regions, in which it has obtained the broadcast rights to the Serie A and UEFA Women’s Champions League in Europe.
The streaming platform has also gained rights for NFL games and the Professional Fighters League (PFL), but has invested heavily into its boxing division, becoming one of the go-to broadcasters to watch the sport.
Despite the size of its portfolio, it is unclear where the company will use the potential $1bn to invest next, having missed out on the domestic rights for the Premier League and the upcoming NBA broadcast deal expected to be highly competitive.
In a bid to attract new viewers, DAZN will be rolling out a ‘free-tier’ to sit alongside its typical paid subscription model.
Speaking at the SportsPro Madrid event, DAZN’s Chief Executive, DACH, Alice Mascia, revealed that the free-tier will be launched in Germany and then rolled out globally in early 2024.
