Call it difficult times for DAZN or new strategy, the most talked about sports streaming company in the recent times has decided to exit some of the key sporting rights they had procured over the years. After reports about DAZN exiting Italian Serie A commitments in Brazil, now Bloomberg has reported that the company is seeking an early exit from its contract to broadcast UEFA Champions League in Asia.
According to the Bloomberg report, In the past few days, the company has told UEFA and its commercial partners TEAM Marketing that they want to terminate their contract before its expiration in mid-2021. The report claims that DAZN is seeking termination citing Covid19’s impact on the scheduling and format of the UEFA Champions League this year.
It is worth noting that earlier it was reported that company is currently under pressure and is in the market to raise funds to sustain their operations completely jolted by Covid19. Reportedly company is also in discussion to sell its stake in Goal.com
Sports Business : DAZN exits from SERIE A commitments in Brazil
According to a report by Sports Business, DAZN has already exited from the Serie A rights in Brazil. It is understood that the OTT platform did not see the property making business sense for its Brazilian operation anymore and exercised an option in its contract to exit the deal. Much of DAZN’s content offering in Brazil is based on global football leagues, including the Premier League, French Ligue1 and Major League Soccer.
Meanwhile it is reported that DAZN will stay committed with Serie A for markets of Japan, Canada and for the domestic market of Italy itself on the same set of the rights. Sky and OTT platform DAZN hold the live domestic rights to Serie A in deals worth €973m per season.
In regard to UEFA Champions League Rights, how the DAZN decision to exit will impact the Champions League broadcast in South East Asia market including Thailand. According to Bloomberg report, DAZN, which also has rights to UEFA’s top soccer in Germany, Austria, Switzerland and Canada hopes to provide some continuity for the rest of this season. It has offered to broadcast matches on current services, but it is seeking to pay less.
The move also suggests that DAZN who was earlier expanding to global markets rapidly and had plans to launch full fledged services for South East Asia and the Indian markets will put their plans on hold for a while under the new leadership.
Long serving Chief Executive Officer of the company Simon Denyer has already move out. Company’s former chief revenue officer James Rushton is now leading the company. Rushton initially served as chief executive of DAZN’s over-the-top (OTT) streaming business, before the group divided its assets to create two separate entities – DAZN and Perform Content – in September 2018. This saw him switch to the position of chief revenue officer in January 2019, where he has been responsible for the leadership and commercial performance of DAZN’s in-market teams.