The sports streaming company is focusing on growing its global footprint, particularly in Europe.
wiped DAZN's debt by the end of 2021, and Access Industries made an additional $250 million equity investment.DAZN launched in 2016 as a streaming service, primarily in Japan and Germany. It launched in the U.S. in 2018 and has since expanded to over 200 countries worldwide.
DAZN is primarily owned by Access Industries, a private holding company that was founded by Russian billionaire Len Blavatnik. It's best known for its boxing and soccer content, but it has live sports rights for dozens of different leagues around the world. For example, DAZN has NFL streaming rights in Canada.The company began looking to raise outside capital in 2019 after being mostly funded by Blavatnik.
Markowski noted that DAZN's board is open to different options for how to how to finance the business and grow it, but "none of those are planned right now. "Asked when the company would become profitable, Markowski said, "I think in the next 18 months, you'll see significant strides in that." Markowski says the management team would not be approving funds to expand its business if they didn't see a proven pathway towards profitability.DAZN plans to become profitable faster by introducing new revenue streams, most notably betting.His hiring "represents a renewed vision for where the business is going," Markowski said.
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