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Foxtel buyer DAZN deepens losses to $2.2b amid rapid global expansion

The widening losses come as DAZN pushes ahead with its growth strategy, backed by sustained investment from billionaire backer Sir Leonard Blavatnik.

John Buckley
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DAZN, which agreed to buy Foxtel from News Corp and Telstra last year in a deal worth $3.4 billion, extended its losses in the 2023 calendar year from US$1.06 billion to US$1.37 billion, according to new corporate filings. Sipa USA/Marco Alpozzi.

Foxtel’s UK-based acquirer DAZN extended its losses to USD1.4 billion ($2.2 billion) in 2023 and took further investment from its billionaire backer, as it pressed ahead with aggressive expansion plans.

The losses, detailed in DAZN’s latest corporate accounts in the UK, come as the company continues its global rights-buying spree — culminating in the FIFA Club World Cup rights and its December deal to buy Foxtel.

DAZN, which agreed to buy Foxtel from News Corp and Telstra last year in a $3.4 billion deal, saw its losses widen from USD1.06 billion in 2022 to USD1.37 billion in the 2023 calendar year, according to fresh filings with the UK’s Companies House last week.

The global sports streamer, which continues to enjoy significant and sustained support from its billionaire backer Leonard Blavatnik, raked in USD2.86 billion in revenue, up on the USD2.19 billion booked a year earlier.