Losses at DAZN Group Ltd. swelled 79% to $2.3 billion in 2021 as it poured money into top soccer rights.
Those costs outweighed revenues, which grew 79% to $1.56 billion in 2021 as DAZN signed up new subscribers, with a majority of sales coming from Europe, the Middle East and Africa. After a phase of wooing customers with low monthly prices, DAZN doubled them to €30 in Germany last year and has more recently upped them in Italy. It’s introducing packages for different bundles of sports, and plans to add a free service later this year.
The venture has lost more than $6 billion since the brand launched in 2016, according to Bloomberg calculations based on UK company filings, highlighting the difficulty in selling enough subscriptions to offset huge investments required to clinch attractive sports rights like for Spanish soccer league La Liga. Sports rights often only last for a few years and yet are sold in competitive and expensive local auctions, unlike many other entertainment properties.
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