THE WORLDIS WATCHING

CONTENTS
03

DAZN’SGLOBALFOOTPRINT
04
2022
IN
NUMBERS:DAZNATAGLANCE05
CHAIRMAN’S
STATEMENT
06
STRATEGYAND
LONG-TERMVISION08
BUSINESS
MODEL
AND
FINANCIALOBJECTIVES10
DAZN’SVALUEPROPOSITION11OURTECHNOLOGY12KEY EVENTS IN 2022

THE ULTIMATEDESTINATIONFOR SPORTS FANSDAZN ANNUAL REVIEW 2022 | 2

DAZN’S GLOBAL FOOTPRINTCHANGING THE
WAY THE WORLD
WATCHES SPORTS

UK

GERMANYBELGIUM

JAPAN

CANADAUSPORTUGAL

SPAIN

ITALY

TAIWANGLOBAL CONTENTDAZN ANNUAL REVIEW 2022 | 3

AVAILABLE IN 200 MARKETS
10 CORE MARKETS
2022 REVENUE $2.3 BILLION+70% YOY GROWTH
15 MILLION PREMIUM
PAYING SUBSCRIBERSHIGHEST GROSSING
SPORTS APP GLOBALLY

130M+ CONNECTED DEVICES
1.2 BILLION HOURS STREAMED
100M USERS WATCHINGDAZN ON YOUTUBE ACROSSPORTFOLIO OF CHANNELS
8 BILLION SOCIAL
MEDIA IMPRESSIONSDAZN ANNUAL REVIEW 2022 | 4

CHAIRMAN’S STATEMENT

This serves both the consumer and the business;it engenders new revenue streams and presents
a significant commercial opportunity while
giving the consumer a single, frictionless,interactive sports experience that is richer
and more immersive than anything they
have seen before.

Before joining DAZN as Chairman in March
2021, I had been following the business closelyfor quite some time. I was very impressed by
how quickly it had grown from a new entrant
into an important player in key markets
throughout the world.
Sports is the most coveted television genre
for good reason. Billions of people across theglobe enjoy watching sports every day. These
televised events aggregate the largest audiences
every year. For many, it is not a casual pastime
but a life-long passion.
Despite the emergence of sophisticated digital
mobile technologies and the migration of muchentertainment and media online, traditional
sports broadcasters have largely failed tomodernise. The viewing experience remains
linear and passive, and sports broadcasters are
at risk of falling out of step with the increasingly
advanced expectations of consumers.

GIVING THE CONSUMER A SINGLE,FRICTIONLESS, INTERACTIVE
SPORTS EXPERIENCE THAT IS
RICHER AND MORE IMMERSIVE

With my background in media andentertainment - especially in sports andentertainment streaming - a passion forcompetitive sports, and a deep understandingof consumer businesses, it is clear to me that thepotential for an innovative direct-to-consumer
sports offering is phenomenal.
Distributing content over the internet, versus
traditional linear broadcast, brings capabilities
that are profound and benefit all stakeholders,the most important of which are today’s
generation of fans. The over-the-top (OTT)
content delivery model allows for theconvergence of consumers’ favorite sports
activities – betting and gaming, ecommerce
and ticketing, news and analysis – in one placeand on one device.

The media consumption habits of the global
population have changed drastically in thelast decade. DAZN is building a product thatis designed for the future; indeed, DAZN
remains today the only truly global, digital-first,
pureplay sports streaming company.
Despite the disruption presented by the global
pandemic and current economic turbulence,these last couple of years have been pivotal forthe business. We invested in our service, laid
our path to profitability, and embarked on an
aggressive recruitment initiative, bringing
onboard the experience and talent needed toachieve our vast ambitions.
Some of the world’s leading executives fromacross technology and innovation, telcos andentertainment, media and sports joined our
exceptional team, highlighted by the recruitmentof Shay Segev as DAZN Group CEO in July
2021. Shay’s impeccable track record at digitaltransformation, betting and scaling midsized
consumer companies into billion-dollar
enterprises made him the clear front runner
for the job. I am delighted that he joined us
to lead the business on this journey.
Over the last eighteen months, DAZN has gonefrom strength to strength. I would like to takethe opportunity to thank my fellow board
members, the executive management andthe entire team who have worked tirelessly,
demonstrated remarkable resilience andresourcefulness and, as a result, we are ina fantastic position as we enter 2023.
KEVIN MAYER
CHAIRMAN, DAZN GROUPDAZN ANNUAL REVIEW 2022 | 5

STRATEGY & LONG-TERM VISION

I joined DAZN in July 2021. The business had
been on its journey for five years. It had invested
heavily in its technology to build a uniqueplatform that could not easily be replicated;
it had a fantastic roster of top tier sports
content; and the team had developed trusted
relationships with rights holders.
The last eighteen months have been highly
significant in our journey to become theultimate daily destination for sports fans andour vision is clear. Put simply, DAZN is changing
the way the world enjoys watching sports.
Currently, the sports entertainment universe
is too fragmented. Our ambition is to remove
friction by creating a single place for fans toaccess everything they want.
Closely supported by our new and deeply
experienced senior leadership team, we haveseen healthy growth across our core markets,
added over 75 rights to our platform, including
the domestic broadcast rights for Serie A,
Bundesliga, and La Liga. Over the course of
the last year, we have substantially increased
our revenues with a clear plan to drive us fast
towards market-level profitability. Our value
proposition has increased as well as our size.

IN 2023, DAZN WILL BECOME AONE-STOP SHOP FOR EVERYTHINGA SPORTS FAN WANTS

We are proud to already be the first truly global
sports streaming platform. We are available inover 200 countries and territories around theglobe. We are the global home of boxing anda market leader in Italy, Japan, Germany, andSpain. Our acquisition of ELEVEN Sports will
propel us into leading positions in Taiwan aswell as Portugal and Belgium, making us
Europe’s largest sports rights holder.

Our vision today, however, goes much further
than solely streaming over-the-top live sports
content. In 2023, DAZN will become a one-stop
shop for everything a sports fan wants –a place for them to access the largest library oflive and on-demand content alongside analysis,
highlights, merchandise, ticketing, gaming, andbetting. Creating this platform will not only
give our customers the best experience, it will
open new revenue streams and attract new
subscribers. It is a win, win, win: a win for ourrights holders, a win for sports fans around theworld, and a win for DAZN.
To achieve this vision, throughout 2022,
we have focused on three core horizons.
HORIZON ONE: ENSURING MARKET-BYMARKET SUCCESSWe are generating additional revenue fromour core markets. To do this, we made aseries of price adjustments to our core
subscription offerings.
We also introduced new structures to takeadvantage of other commercial opportunities.
This includes creating an option for customers
to commit to a 12-month contract but pay
monthly instalment plan, introducing tiering
options to enable account sharing for a higher
price, adding content packs that can be brought
individually or bundled, and launching Pay-Per
View (PPV) as a new model to monetise content.
Market CEOs have been installed in recognitionof the fact that our core markets now needsustained local leadership.
HORIZON TWO: DELIVERING AN INTERACTIVE AND
ENGAGING EXPERIENCE FOR OUR CUSTOMERSWe are building an interactive platform that takes
fan engagement to new heights through a deeper
and more personal user experience. The data wehave collated over the past seven years means
we now know the type of experience sports fans
enjoy, and we are finding new ways to use thatdata to tailor live and on-demand content anddeliver a wider range of products and services
to our customers.

DAZN ANNUAL REVIEW 2022 | 6

We have created several new interactive features
such as ‘Watch Party’– allowing groups of DAZN
subscribers to watch live events together in avideo-chat setting - and ‘DAZN Picks’, a free
prediction game. We launched DAZN Moments inJapan, a series of J. League NFTs, and Boxing.IO,
our NFT marketplace with limited edition boxing
highlights. In DACH, we launched the DAZN Store
as a proof-of-concept merchandise offering.
DAZN Bet is now live in the UK, Spain, and Italy
through a strategic partnership with B2B gaming
tech provider Pragmatic Group, which is allowing
us to explore how our customers interact with abetting and gaming offering directly adjacent tolive sports content.
We are exploring new opportunities inadvertising and content creation as well asgaming and sport-related commerce. Our new
digital advertising and programmatic ad sales
capabilities has allowed us to expand inventory.
Our recent acquisition of US media entertainment
company Team Whistle will mean DAZN has ahighly creative in-house content studio and isable to drive advertising revenues throughoff-platform content.
HORIZON THREE: MAKING DAZN A DAILYDESTINATION FOR SPORTS FANS
Beyond our content library, becoming a daily
destination requires us to heighten engagement
and increase the frequency with which customers
come to DAZN, and the reasons why they come.
Research shows that media consumption habits
have evolved significantly over the last decade,with consumers wanting a more interactive,
casual, and personalised experience. DAZN is
working to develop a more mass-market productto complement our existing, premium offer.

In early 2023, we will be launching a freemium
model, whereby we expand our customer base tocohorts of more casual sports fans who either pay
a lower monthly subscription or have free accessto limited content. Access to premium content
will be restricted, with the option to make onetime purchases (such as add-ons, weekend passes,
game passes and championship passes) or upgrade
to a higher tier subscription. This larger, lower tiercustomer base will be monetised by being served
higher rates of advertising and a greater frequencyof micro-transactions, increasing individual ARPU.
LOOKING AHEAD
We know that the love of sport is truly global
and diverse. Our goal is simple: to bring every fan
closer to the beating heart of sport by creating aplatform where all fans can come every day for
sporting entertainment, regardless of where they
are in the world. We have started to add significant
volumes of content to our global catalogue,
focusing on smaller non-domestic sports brands
with hugely engaged followings that have generally
been overlooked by traditional broadcasters.

OUR GOAL IS SIMPLE:
TO BRING EVERY FAN
CLOSER TO THE BEATINGHEART OF SPORT

2023 will see DAZN reaching more people as
we make the product more accessible, remove
friction, and improve customer engagement.
We have made major steps forward since I joined
the business in 2021 and I look forward to working
the team and our partners to deliver the next
phase of DAZN’s progress.
SHAY SEGEV
CEO, DAZN GROUPWE ARE EXPLORING NEW OPPORTUNITIESIN ADVERTISING AND CONTENTCREATION AS WELL AS GAMING AND
SPORT-RELATED COMMERCEDAZN ANNUAL REVIEW 2022 | 7

BUSINESS MODEL AND
FINANCIAL OBJECTIVES

I am hugely excited by the opportunity
in front of DAZN.
DAZN operates in the vast and growing sports
entertainment space, which – in addition tobroadcast subscriptions – encompasses
on-and–off-platform advertising, betting
and gaming, and a range of e-commerce
opportunities. This is an addressable market
for DAZN of $400 billion by 2027.
There is so much to play for – both in termsof expanding into new geographical markets
and in broadening our offering to provide theservices and products fans want to spend theirtime and money on alongside our live sports
streaming service.
DAZN has made significant investments in thebusiness in recent years - acquiring content,
building our global technology platform, anddeveloping our growth proposition, or flywheel.
In our existing core markets, we are alreadyseeing this flywheel delivering.
Our broad selection of sporting content, which
includes some of the most popular local andglobal sports, is very effective at bringing
customers to DAZN. There is no doubt thatsport is one of the biggest passions of billions
of people around the world; something in which
they are prepared to invest significant time andmoney in to enjoy, share and transact.

DAZN ANNUAL REVIEW 2022 | 8

Sports fans have a high willingness to pay and,in 2022, DAZN was successful in growing revenue
through improving the monetisation from ourcustomer base. We introduced different plansaround our core subscription model with content
tiering, multiple device access and pay-per-view
at price points that better reflect the premium
nature of our offer. In 2023 we will continue
optimising our proposition creating different
price points, and options to extend or upgrade
the experience and content.
Sports fans are also one of the most sought-after
demographics for advertisers. In 2022, DAZN
created more ways for brands to reachour customers, both on and off our platform.
We achieved this by continuing to integrate moresophisticated advertising technology and using
greater automation.
Thanks to these efforts, in 2022 our revenue
reached $2.3 billion, ~70% growth YoY using
like-for-like exchange rates. There is much more
upside to realise. We will continue to develop
our revenue model and build an increasingly
comprehensive set of sport related experiences,products and services that will help us further
expand our customer base, increase our revenue
and progress to profitability. In late 2022, webegan this journey by launching betting in UK,
Spain and Italy and we expect to continue
adding a broader set of services for customers
through 2023.
By aggregating more sports experience andservices together for customers we aim to deliver
more value for sports fans that we know they arewilling to pay a premium for. This is importantfor our long-term success. As a platform witha high degree of operational leverage, with
fixed costs on content in each market, and a
global technology platform supporting eachmarket, this growth in monetisation has a highcontribution to the business. This will accelerate
our capacity to generate cash and further
invest in the business. That investment will be
used to deliver more content in more markets,and accelerate the pace of our growth, reachand ability to create the products and services
consumers want.

9 | DAZN ANNUAL REVIEW 2022

As CFO, over the last 12 months I have been
focused on driving the business to achieve
profitability both in our markets and at a grouplevel, while ensuring we are also progressing ourlonger-term goal of building a global destination
for sports fans.
Our aim as a business is to be on a profitablerun-rate by the beginning of 2024, which isboth exciting and achievable. At that point wewill be delivering a sustainable business thatis still primarily driven by subscription andadvertising in our current markets, meaning
there is a significant amount of upside potential.
We will be in position to deliver more value tocustomers in each of our markets through ouraggregation of products and services, while also
having the capabilities to expand and deepen
our global presence.
We are optimistic about what DAZN willachieve in 2023 - we have invested in our
fundamentals of content and technology,
built strong foundations, are delivering aservice that our customers are passionate
about and value, and we have a clear plan toinnovate, scale and execute.
DARREN WATERMAN
CFO, DAZN GROUPA VALUE PROPOSITION FOR FANS,RIGHTS HOLDERS, AND THE BUSINESSDAZN IS A LEADING DISRUPTOR IN THE
INDUSTRY, BUILDING A GLOBAL PLATFORM
FOR SPORTS FANS – COMBINING SPORTS
CONTENT, PRODUCTS AND EXPERIENCES.

DAZN ANNUAL REVIEW 2022 | 10

OUR TECHNOLOGY

Mercury, our video player has been released
across all devices and geographies, hasbrought a more consistently delivered andvibrant experience to fans around the world.
Our continued investment, while maintaining
legacy functionality, creates the ideal player
experience for core and growth markets alike.

DAZN’s continued investment in products andservices is underpinned by our world-leading
technology. Our OTT, app-based delivery marks
us out as having the scale and capability to meetthe demands of a new generation of sports
entertainment consumers as well as being able
to forge meaningful and long-term partnerships
with rights holders. This allows for a whole new
way of interacting with their fans, capturing
their love for sport, and serving more of what
they want. It opens up endless possibilities
and opportunities.

THE ONLY
LIMIT IS OURIMAGINATIONDAZN’s platform can integrate new trends
and technologies as they evolve – making us
far more agile and future proof. But also, able
to deliver at scale. We now have over 130 million
devices connected, and that gives us not only
the capability to deliver fantastic sports content
to our customers in the ways they want, butalso to learn from how they are consuming it,
so we can constantly refine and create better
products and services.

Our dedicated innovation Lab, DAZN X, hasbeen launching next generation features totake customer engagement to new heights.
We are developing technology that will deliver
watch parties at scale, an in-app second screen
experience, fun with influencers, multiplecommentary options, and enhanced socialand sharing functions.
We use these insights and our self-learningalgorithms to make informed product decisions
and deliver a hyper-personalised customer
experience. This will also further enhance
our off to our rights holders, partners andadvertisers, as we roll out programmatic
advertising and develop more and deeper
technology and distribution partnerships.
We continue to build our technical teams acrossall our development hubs in Poland, Holland
and the UK, and have set up a dedicated centre
in Hyderabad to build in additional capacity,which will enable us to deliver more and faster.
SANDEEP TIKU
CTO, DAZN GROUPDAZN ANNUAL REVIEW 2022 | 11

DARREN WATERMAN APPOINTEDAS CHIEF FINANCIAL OFFICER

KEY EVENTSIN 2022

Darren Waterman joins DAZN
from Amazon Prime Video as
Chief Financial Officer.

ACCESS INDUSTRIES BACKS DAZNGROUP TO CONTINUE GROWTHDAZN Group announces
recapitalization worth $4.3bn.
Investment by Access Industries
follows a strong year which saw DAZN
broadcast an increasing numberof tier-1 domestic rights in Europe.

FEB

JAN

A YEAR IN DAZNDAZN MOMENTS: NFT LAUNCH IN JAPANDAZN began a foray into non-fungible
tokens (NFTs) in partnership withMIXI, known as “DAZN Moments”,
in partnership with the J League.

NEW PRICING INTRODUCED IN JAPAN
12 month contracts and new pricing
introduced in Japan.

FRANCO BERNABE APPOINTED SENIORSPECIAL ADVISORDistinguished Italian businessman
Dr Franco Bernabe joins DAZN as a
Senior Special Advisor

DAZN APPOINTS STEFANO AZZI ASCEO OF ITALIAN OPERATIONS
Stefano Azzi joins DAZN as the first
dedicated CEO of its Italian business.

DAZN ANNUAL REVIEW 2022 | 12

JUL

JUN

MAY

APR

MAR
DAZN AND MOVISTAR PLUS REACH
DISTRIBUTION AGREEMENT FOR LALIGADAZN ESTABLISHES PARTNERSHIPWITH PRAGMATIC GROUPSANDEEP JOINS AS CHIEF TECHNOLOGYOFFICERDAZN LAUNCHES PPV OFFERINGGLOBALLY

ANTHONY JOSHUA BECOMES A DAZNBRAND AMBASSADORPETE OLIVER JOINS DAZN AS CHIEF
MARKETING OFFICER

Following DAZN and Telefonica
confirming a sub-licensing agreementfor domestic rights to LaLiga, DAZN
closes a non-exclusive distribution
deal with Movistar Plus+, making the
LaLiga package available for Movistar
Plus+ customers.

DAZN continues its mission todiversify the platform, establishing apartnership with Pragmatic Group.

Sandeep joins from FTSE 100 company
Entain as Chief Technology Officer
to drive innovation and lead the next
phase of platform development.

Canelo vs Bivol billed as the ‘Legacy is
Earned’ fight, an epic clash between
4-division world champion, CaneloÁlvarez, and defending WBA lightheavyweight champion, Dmitry Bivol,with Bivol prevailing as the winner by
unanimous decision.

Ground–breaking deal struck
with Anthony Joshua, seeing thetwo-time former unified world
heavyweight champion join DAZN
as a brand ambassador and all his
future fights broadcast on DAZN’ssport entertainment platform tocustomers worldwide.

Pete Oliver joins DAZN as Chief
Marketing Officer from BT Sport,
to lead the group’s global marketing
activities and teams, and its
distribution partnerships.

ALICE MASCIA JOINS DAZNAS CEO, DACHBOSCO ARANGUREN HIRED AS
GENERAL MANAGER, SPAIN
Bosco Aranguren joins from Vodafone
as General Manager, Spain ahead ofthe launch of LaLiga.

Alice Mascia appointed as CEO
of DACH (Germany, Austria andSwitzerland) to lead its operations,after holding senior roles at Foxtel
and Sky Deutschland.

RECORD BREAKING WOMEN’S BOXINGMATCH AT MADISON SQUARE GARDEN
Taylor vs Serrano becomes themost watched female boxing event
broadcast ever in history. It sees anunprecedented audience, with 1.5
million people tuning in globally on
DAZN across 170+ markets, setting a
new women’s boxing viewership record.

WOMEN’S CHAMPIONS LEAGUE FINALThe UWCL final sees a record setting
live cumulative viewership of 4.1 million
globally across DAZN, DAZN’s UWCLYouTube channel, and 11 free-to-air
channels in Europe. This marks a
56% increase in audience compared
to last season’s final.

NEW PROPOSITION LAUNCHES IN ITALYGERMANY AND SPAIN
Ahead of the start of the football season
in Italy, Germany and Spain, newproposition launches are introduced.

DAZN ANNUAL REVIEW 2022 | 13

DAZN consolidates its position in the
Spanish market, launching LaLiga on
the platform and broadcasting 175
LaLiga matches per season over the
next five seasons.

DAZN STRIKES AGREEMENT TO ACQUIREELEVEN SPORTS AND TEAM WHISTLEDAZN LAUNCHES MERCH STOREIN DACHDAZN PARTNERS WITH PROFESSIONALFIGHTERS LEAGUEDAZN strikes agreement to acquire
ELEVEN Sports and Team Whistle,
expanding its position in parts ofAsia and Europe, and in global sports
streaming rights and technologies,
building bigger and younger audiences
through its short-form content.

DAZN launches its first e-commerceffering with the DAZN Store in DACH,
where fans can purchase exclusive
DAZN branded collections and fanmerchandise from the world of sports
and entertainment via the DAZN Store.

DAZN and Professional Fighters League
agree to a joint venture to create PFL
Europe, which when launched in 2023,
will be the first regional league everfrom a global provider of MMA.

DAZN LAUNCHES MF & DAZN: X SERIESWITH MISFITS BOXINGDAZN launches an innovative crossoverboxing series, in partnership with KSI
and his promotional company Misfits
Boxing under the billing “MF & DAZN:X Series”. KSI vs Swarmz/Pineda was
the first fight as part of this series.

DAZN BUILDS ITS WOMEN’S SPORTPORTFOLIO IN KEY MARKETSDAZN acquires global broadcastingrights to Finetwork Liga F, adding to
its growing repertoire of women’sfootball offering.

FIRST FIGHT ATTRACTING AN AUDIENCE
OF 2M GLOBALLY
Highly anticipated trilogy fight takes
place between Canelo Alvarez andGennady “GGG” Golovkin takes place,which is the biggest PPV event to date,attracting an audience of 2m globally.

RONALDO ‘EL PHENOMENON’ PREMIEREDAZN host the Ronaldo ‘El
Phenomenon’ Premier in Madrid
accompanied by stars including Vinicius
Jr. Rodrygo, Militao, Carlo Ancelotti,
Florentino Pérez and legends David Villa
and José María Gutiérrez ‘Guti’.

DAZN BET LAUNCHES IN THE UKDAZN BET LAUNCHES IN SPAINDAZN cements its mission of thediversification of the platform,
launching a sports betting service inthe UK under the DAZN Bet banner,with Mark Kemp as CEO.

Following the launch of DAZN Bet in the
UK in August, DAZN launches in Spain.

DEC

NOV

OCT

SEP

AUG
LALIGA LAUNCHED ON DAZNDAZN STRIKES KEY PARTNERSHIP DEALSDAZN BET SOFT LAUNCHES IN ITALYDAZN strikes partnership deals with
Foxxum OS, Hisense TVs and Philips TV
and Sound.

Following the launch of DAZN Bet
in the UK and Spain, DAZN softlaunches in Italy.

TECH SOLUTION OF THE YEARDAZN LAUNCHES DAZN FAST CHANNELSIN GERMANYDAZN wins Tech Solution of the Year at
Sports Pro OTT Summit in Madrid.

DAZN launches its first free-to-air
linear streaming channels DAZN FAST+
and DAZN FAST. They are the firstpremium sports FAST channels
in Europe and initially are available
in Germany respectively on Samsung
TV Plus and on waipu.tv.

DAZN ANNUAL REVIEW 2022 | 14

(C) DAZN Group Limited
12 Hammersmith Grove
London W6 7AP