DAZN looking for cash, may sell itself
I guess it’s hard to be the Netflix of sports when there are no sports. What are you guys who bought the service doing with it. I guess they aren’t giving refunds
The Covid-19 coronavirus pandemic has hit many industries hard, with sports and sports media near the top of the list.
Within even just that sector, however, are a few businesses that are even more vulnerable. DAZN certainly qualifies there; the fledgling streaming service built a brand (and a subscriber base) around expensive live sports rights, and without sports, there aren’t many reasons for subscribers to hang around. For a business model in large part reliant on the stability of monthly revenue, that’s dangerous, and DAZN has already taken steps like furloughing live event staff and planning to withhold rights payments to leagues that are shut down.
According to a Financial Times report today, DAZN’s leadership is exploring even more drastic options in an effort to stay afloat, up to and including being willing to put the whole business up for sale.
(DAZN owner Len) Blavatnik is exploring ways to inject new money into the lossmaking business, according to several people familiar with the talks, with the sale of an equity stake in the business the preferred option. However, an outright sale would also be considered, the people said.
The report goes on to note that DAZN has been looking for outside investment from places like Liberty Global as the pandemic shutdown has continued, though so far they’ve been unable to find a partner. It’s not hard to see why others aren’t exactly excited at pumping money into DAZN right now, either.
Re: DAZN looking for cash, may sell itself
I grabbed a subscription when they first came around but dropped them around Christmas. There is a feel of who couldn't see this coming at some point but the shutdown just sped it up. Boxing and Stateside is just a drop in the bucket for them compared to everything they carry world wide but honestly dropping millions on Andrade and Farmer etc title fights didn't help. I think they got to far over their skies and when they capitulated to the ufc and had THE p4p franchise name in the sport literally twiddling his thumbs waiting to take the ring that said a lot about long term vision. As with all upcoming 'stars' and huge fights though some cuts will be felt over all promotions.