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Multi-territory over-the-top (OTT) sports media company DAZN is seeking to raise at least US$500 million in new funding, according to a report by Bloomberg.
The US-based financial news outlet says the funds will most likely be used to support DAZN’s expansion efforts as it looks to grow beyond its existing nine territories.
Bloomberg added that New York-based investment bank Goldman Sachs is working on the fundraising. When approached by SportsPro, DAZN declined to comment.
Up to now, DAZN’s expansion has been supported by billionaire owner Sir Leonard Blavatnik via his Access Industries parent company. Blavatnik is worth US$25.5 billion, according to Bloomberg, but the outlet’s report suggests that the fundraising effort may be a sign that he is no longer willing to solely carry the cost of media rights.
Earlier this year, DAZN Group sold its Perform division to Vista Equity Partners, owner of Stats, in a deal that merged the two data companies to create Stats Perform, allowing the media company to focus on its rights business.
DAZN has grown quickly since its launch in 2016 by spending a heavily on top-tier sports rights. In the service’s first year of operation in Japan it spent US$3 billion on acquiring rights to domestic top-flight soccer and baseball, in the J League and Nippon Professional Baseball, as well as Major League Baseball (MLB), the National Football League (NFL), all five major European soccer leagues and the Uefa Champions League.
All of DAZN’s subsequent new territory launches have been backed by the acquisition of premium properties in those markets.
Whilst DAZN has ambitions to compete for major league rights, its launch in the US was initially built around boxing, including a US$1 billion partnership with Matchroom Boxing and a US$365 million deal with boxer Canelo Alvarez. It later added an MLB cut-in show to its offering, paying a reported US$300 million over three years. Earlier this year, the company doubled its monthly subscription price in the US to US$20.
In a recent interview with SportsPro, DAZN executive chairman John Skipper stated that the company is eyeing new markets. It currently owns Champions League rights in a number of Asian territories where it does not have a live product and earlier this year Martyn Jones, DAZN Group’s executive vice president for Japan, revealed the company was looking at launching a new product built around that offer.
DAZN is seeking to raise at least US$500 million in new funding
Multi-territory over-the-top (OTT) sports media company DAZN is seeking to raise at least US$500 million in new funding, according to a report by Bloomberg.
The US-based financial news outlet says the funds will mostly likely be used to support DAZN’s expansion efforts as it looks to grow beyond its existing nine territories.
Bloomberg added that New York-based investment bank Goldman Sachs is working on the fundraising. When approached by SportsPro, DAZN declined to comment.
Up to now, DAZN’s expansion has been supported by billionaire owner Sir Leonard Blavatnik via his Access Industries parent company. Blavatnik is worth US$25.5 billion, according to Bloomberg, but the outlet’s report suggests that the fundraising effort may be a sign that he is no longer willing to solely carry the cost of media rights.
Earlier this year, DAZN Group sold its Perform division to Vista Equity Partners, owner of Stats, in a deal that merged the two data companies to create Stats Perform, allowing the media company to focus on its rights business.
DAZN has grown quickly since its launch in 2016 by spending a heavily on top-tier sports rights. In the service’s first year of operation in Japan it spent US$3 billion on acquiring rights to domestic top-flight soccer and baseball, in the J League and Nippon Professional Baseball, as well as Major League Baseball (MLB), the National Football League (NFL), all five major European soccer leagues and the Uefa Champions League.
All of DAZN’s subsequent new territory launches have been backed by the acquisition of premium properties in those markets.
Whilst DAZN has ambitions to compete for major league rights, its launch in the US was initially built around boxing, including a US$1 billion partnership with Matchroom Boxing and a US$365 million deal with boxer Canelo Alvarez. It later added an MLB cut-in show to its offering, paying a reported US$300 million over three years. Earlier this year, the company doubled its monthly subscription price in the US to US$20.
In a recent interview with SportsPro, DAZN executive chairman John Skipper stated that the company is eyeing new markets. It currently owns Champions League rights in a number of Asian territories where it does not have a live product and earlier this year Martyn Jones, DAZN Group’s executive vice president for Japan, revealed the company was looking at launching a new product built around that offer.
