DAZN publishes stronger 2024 financial results as competition in the global sports streaming market grows.
DAZN has said it is on course to reach profitability in 2025, even though the sports streaming platform recorded another large operating loss last year.
According to its 2024 financial results, filed on October 7 2025, the company reported an operating loss of $877.5m. While this remains a significant amount, it is an improvement from the $1.37bn loss recorded in 2023.
Revenue also improved, increasing from $2.86bn in 2023 to $3.19bn in 2024. The company said this growth was driven by the addition of new sporting events and lower operating costs.
EBITDA losses were $778.3m, down from $1.28bn in 2023. Adjusted EBITDA losses fell to $673.4m from $830.2m. The report said this was due to tighter cost controls and no major one-off charges, such as the World Cup rights adjustment and goodwill impairments recorded in 2023.
The company continued to receive support from its majority shareholder, Leonard Blavatnik’s Access Industries. Access provided $587m in funding in 2024, up from $240m the year before. However, DAZN said it has not required additional funding from Access so far this year.
The accounts also confirmed a $1bn investment from SURJ, a sports investment company owned by Saudi Arabia’s Public Investment Fund, to support working capital and expansion.
In addition to its financial improvements, DAZN made several strategic moves after the reporting period.
In April, the UK-based company acquired Australian pay TV platform Foxtel in a deal worth around $2.2bn, with News Corp and Telstra taking stakes in DAZN as part of the transaction. A month later, DAZN secured exclusive rights to the FIFA Club World Cup in the US in a $1bn deal.
Can DAZN turn profit next year?
Chief Executive Shay Segev is confident. In an interview with the Financial Times, he said the company is “comfortable” it will achieve group-wide profitability in 2026. He added that key markets are already profitable in 2025 and DAZN is targeting $5bn in revenue this year.
This comes as DAZN looks to scale its business while managing heavy costs. The company has spent heavily on sports rights, technology and its betting arm. It is now relying on more efficient operations, better margins and a stronger rights portfolio to reach profitability for the first time.
The acquisition of Foxtel gives DAZN a stronger foothold in the Asia-Pacific region and access to a new pool of subscribers, which support its goal of reaching one billion subscribers.
However, reaching profitability will not be easy. DAZN’s losses remain substantial and competition for sports rights is intensifying. Skydance’s Paramount has recently secured deals with TKO Group Holdings’ UFC and Zuffa Boxing for next year.
Netflix is also starting to grow its presence in live sports. The streaming giant showed Terence Crawford’s win over Canelo Alvarez on September 13, drawing more than 41 million viewers globally, including 20 million in the US.
