Two sports streaming rivals become one: DAZN Group has announced an agreement to acquire the Eleven Group’s global sports media businesses.
Neither has had much success in the UK, Eleven’s fledging service came to an end after less than a year in 2019. DAZN has struggled to gain a foothold in the UK after an unsuccessful bid for BT Sport.
But around the world, both streaming services have significant portfolios of sports rights. On completion of the transaction, DAZN will become the broadcaster of top football leagues in Portugal and Belgium.
Eleven Group’s businesses will also complement DAZN’s existing positions in Italy, Germany, Austria, Switzerland and Spain, where DAZN holds top tier domestic football rights. Eleven also has a presence in Taiwan and other Southeast Asian markets, giving DAZN a greater foothold in the region where it already has an established business in Japan.
Reuters reports that Team Whistle, a short-form original social media content provider, is also included in the DAZN-Eleven Sports deal, which will bring total revenue of around $300 million a year.
Shay Segev, CEO of DAZN Group, said:
“The acquisition adds scale to our business. It is a big step forward in our mission to be the leading global sports platform. I have a great deal of respect for what Andrea, Marc and the team have achieved and look forward to working with them as we further expand our ambitions. Together we form the strongest and most credible management team in the sector. DAZN has invested in building a revolutionary digital sports platform, where fans can enjoy the full range of interactive sport entertainment. We are looking forward to expanding these capabilities to new markets as well as leveraging Eleven’s capabilities in DAZN.”
The merger follows growing competition from the likes of Amazon, Viaplay and traditional broadcasters building their streaming services.