Monday December 4, 2023

DAZN Eyes IPO and Premier League

  • Online sports broadcaster DAZN is considering an IPO.
  • It would make DAZN the first global sports streaming company to be listed publicly.
DAZN/Design: Alex Brooks
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DAZN is considering an IPO to facilitate growth. The move would make it the first global sports streaming company to go public. 

Dubbed the “Netflix of sport” and owned by billionaire Len Blavatnik, DAZN first launched in Germany and Japan in 2016 before making its debut in the United States two years later. 

“I can see us tapping the public capital markets or the private capital markets over the next few years,” co-CEO James Rushton told Reuters.

DAZN suffered as sports were put on hold during the pandemic. Previously acquired broadcasting rights went unused and users canceled the service, forcing the streamer to explore new options to stay afloat.  

But as sports return to normal, DAZN anticipates recovery. This year, the company expects to bring in more than $100 million in advertising revenue

Earlier this month, DAZN appointed former Disney executive and TikTok CEO Kevin Mayer as Chairman of the Board. Mayer has his sights on growing the service’s presence in Europe and Asia and has already made progress. 

In March, DAZN beat out Comcast subsidiary Sky to acquire domestic rights to broadcast Italian soccer league Serie A for the next three seasons. Its $2.95 billion bid is supported by Italy’s largest phone carrier, Telecom Italia, which backs the offer by 40% annually.

Rushton has hinted that acquiring rights to broadcast the English Premier League may be DAZN’s next goal.

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