DAZN prepares for potential IPO after turning profitable
DAZN is preparing itself for a potential stock market flotation after moving into profitability and strengthening its senior management team, according to a report in City AM.
DAZN is taking steps to become ready for a potential initial public offering after reporting its first positive earnings before interest, tax, depreciation and amortisation (EBITDA), according to a report in City AM.Chief executive Shay Segev confirmed that the global sports streaming business is preparing for the possibility of a flotation, although no decision has been made on either the timing or location of a listing.Segev said DAZN expects its 2025 accounts to show EBITDA of more than $100 million, compared with an EBITDA loss of $778 million in 2024. The company is targeting approximately $250 million in EBITDA for 2026.The improvement follows years of substantial investment in building DAZN's global sports platform. City AM reported that the company accumulated losses totalling $10 billion during its first nine years of trading, supported by billionaire owner Sir Leonard Blavatnik.DAZN strengthened its business in 2025 through the acquisition of Australian pay-TV company Foxtel Group and its role as FIFA's main global broadcast partner for the expanded Club World Cup.Segev told City AM: "We know, directionally, that we want to be IPO ready. IPO ready doesn't mean we're going to do an IPO. It needs to make sense for us, to do it at the right time, the right valuation, as part of the strategy overall."I think it does make sense for a company like DAZN to be public at some point, the question is timing. Another year and a half, two years, three years, then we do it at the right time."The company has also made three senior executive appointments, including former Foxtel chief executive Patrick Delany as chief operating officer and Alex Gersh as chief financial officer.Gersh previously served as chief financial officer at sports technology company Sportradar and helped oversee its 2021 Nasdaq listing.DAZN has also expanded through acquisitions, including US business-to-business sports distribution platform EverPass Media and streaming technology company ViewLift.Segev said a flotation would not primarily be designed to raise capital, with DAZN already well funded, but could support the company's next phase of growth and facilitate further transactions.DAZN operates across more than 200 markets and holds rights to properties including the Bundesliga, Serie A, LaLiga and Ligue 1, alongside competitions and events across American football, basketball, motorsport and combat sports.