DAZN targets 'US$1bn' in fresh funding to aid global expansion ...

Sports media platform DAZN is contemplating raising as much as US$1 billion in new investment to accelerate its global expansion, according to Bloomberg.

The outlet reports that the company has held preliminary discussions about raising fresh funding, with a process possibly to begin in the coming months.

DAZN chief executive Shay Segev has previously refused to rule out the prospect of ahead of a potential initial public offering (IPO) in the nsext two to three years.

The company’s 2023 financial results are expected to show narrower losses compared to previous years in which it has made huge investments in sports rights, including Italy’s top soccer league Serie A.

As for next year, the platform has announced it will roll out a new free tier, which will provide registered users access to its content, services and products for no charge.

This will see a select group of live events from several major properties within DAZN’s rights portfolio, such as the National Football League (NFL), Uefa Women’s Champions League (UWCL) and Professional Fighters League (PFL), shown for free to users either registered on the DAZN platform or on partner channels. 

Users will also be able to access the company’s non-live content such as highlights and documentaries, alongside DAZN’s integrated products and services, which includes betting, free-to-play games and news.

DAZN’s chief executive for the DACH region, Alice Mascia, confirmed at SportsPro Madrid earlier this month that the free tier would initially launch in Germany by the end of this month. The company will then roll out the tier to the rest of the world in early 2024.

‘If it works in Germany, it works everywhere.' – Alice Mascia, DAZN's CEO for DACH, on how the company tests its DTC strategy in Germany.#SPMadrid #SportsBiz pic.twitter.com/kiOVxnsF89

“DAZN wants to create as many touch points as possible for the 3.5 billion sports fans around the world,” said Shay Segev, DAZN Group chief executive.

“We know there are already 300 million people who interact with DAZN content annually, but we want all sports fans to join DAZN and enjoy sport. With our comprehensive flywheel of sports-related products and services – from tickets and merchandise to betting and gaming.

“Our aim is to become the go-to sports destination platform for all sports fans in all countries – thereby delivering the best proposition for rights holders and the best app for fans.”