Business
DAZN tightens corporate structure after revenue climbs to $3.2B
DAZN has established a new holding company structure while keeping ownership under Access Industries. The move comes as the sports streaming group reports stronger financial results, expands global sports rights agreements and evaluates future funding options, including a possible IPO, amid growing competition across digital sports media.
DAZN created a new Cayman Islands holding company, a move that could facilitate future fundraising efforts, including a potential IPO, people with knowledge of the matter said.
DAZN, the sports streaming company that is controlled by Access Industries, the investment vehicle for billionaire Len Blavatnik, hasn’t changed its ownership structure through the reorganization. But the new arrangement gives the sports streaming business a vehicle that could support fundraising as it looks to expand its global business.
DAZN is showing improving financial results, with its revenue jumping to $3.2 billion in 2024 from $3.2 billion a year earlier, and its annual loss narrowing to $936 million from $1.4 billion, according to company filings.
Blavatnik has put more than $7 billion into the company since its creation. Surj, a sports investment firm backed by the Saudi government, contributed $1 billion in 2025 for a minority stake. Other shareholders in DAZN include News Corp and Telstra, which hold interests in the company through their participation in DAZN’s acquisition of Australian pay-TV provider Foxtel last year for about $2.2 billion.
DAZN, which is a unit of Access Industries, has been busy growing its sports rights across various countries in recent years, spending as much as $1 billion on the exclusive US media rights for the FIFA Club World Cup, in addition to an expansive partnership that includesFIFA+ content.
It operates in major sports markets such as Australia, the U.S., Canada, the U.K., Germany, Italy, Spain and Japan. Global Sports Streaming Market value is approximately $34 billion as of 2024 and is growing by the day as many viewers are shifting to streaming platforms instead of traditional media, according to a research firm, Grand View Research.
Although no timetable for an IPO has been publicly provided by the company, the restructuring should draw notice from investors in the global sports media and streaming industries.
In April,DAZN had already said it’s “well on its way” to achieving more than $5 billion in annual revenue and becoming profitable in 2026.
Source: Capital Brief
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