Streaming service DAZN has laid off approximately 2% of its staff. The COVID-19 pandemic had already resulted in furloughs for a number of the company’s employees; it previously reported it had 2,600 employees in March.
The sports shutdown has been strenuous on DAZN, as it also told leagues it would not pay rights fees for events suspended by the pandemic. The English company has approximately $4.5 billion in broadcast rights commitments.
DAZN is reportedly looking to shift its strategy in markets with small footprints — including the U.S. and Brazil — by launching a united global streaming service run by a small contingent based in North America.
Trouble With Alvarez
Boxer Canelo Alvarez has filed a $280 million breach of contract lawsuit against DAZN, as well as former boxer Oscar De La Hoya and his Golden Boy Promotions. Alvarez is seeking damages he claims he’s owned from an 11-fight, $365 million deal. He last fought in November 2019.