Segev Appointed Sole CEO of DAZN
Author:
Megan Butler
Sports streaming service DAZN has announced that Shay Segev will act as the group’s sole CEO, following a leadership reshuffle. The group has made a number of changes to its leadership team, as it pursues its ambitious growth and product strategy. It follows the group’s attempt to buy BT Sport, which is projected to be successful.
DAZN is a leading subscription sports streaming platform, and now offers its services in more than 200 countries. ?Andrea Piacquadio/Pexels
Former Entain CEO
As part of restructuring at DAZN, Shay Segev has been appointed as the group’s sole CEO. A number of leadership changes have been made that will support DAZN in its ambitious growth and product strategy. Segev has been a key member of DAZN’s leadership team since joining the group in June 2021.
Prior to joining DAZN, Segev was the CEO of Entain, one of the world’s leading betting and gaming operators. Entain is responsible for such popular brands as Coral, Ladbrokes, PartyPoker and bwin. It is listed on the London Stock Exchange and is one of only two gambling firms listed as constituents on the FTSE 100 Index.
Under Segev’s leadership, the gambling group underwent a radical rebrand at the end of 2020, changing its identity from GVC Holdings to Entain. The rebrand was successful in overhauling the group’s image, shedding its negative associations with unregulated gambling markets to a company focused on offering the best in entertainment.
Segev announced his intention to leave Entain months later, after less than a year in charge. However, he had been with the company for five years, during which time the company experienced phenomenal growth. Segev was instrumental in Entain securing its landmark acquisitions, which cemented it as a market leader with a capitalization of ￡10 billion.
Segev’s departure came as a shock to many, revealed whilst the company was in the midst of takeover talks with MGM. Those discussions fell apart, as board members rejected MGM’s ￡8.1 billion bid. Segev was firm in his view that MGM’s proposal seriously undervalued Entain’s value.
Segev had been offered an opportunity too good to turn down, joining James Rushton as co-CEO of DAZN. The pay-per-view streaming platform, bankrolled by billionaire businessman Len Blavatnik, has been described as the Netflix of sports. Just two years after its launch, DAZN was valued at around ￡3 billion and hailed as one of the UK’s rare ‘tech unicorns’.
Top Tier Reshuffle
DAZN is one of the fastest growing sports media firms in the world, with employees in more than 25 countries. The UK-based group leads the way when it comes to fan engagement. It is involved in most aspects of the industry, from production to distribution and commercialization.
As well as offering its own on-demand streaming service, DAZN also offers fans continuous fresh content via DAZN News. In doing so, it strives to give fans access to sport anytime, anywhere. Viewers can access its platforms on most connected devices, including smart TVs, phones, tablets, and streaming sticks.
Segev has served as joint-CEO alongside James Rushton since the pair were appointed in January 2021. The following March, Kevin A Mayer was named Chairman of DAZN. Previously, Mayer had acted as Chairman of Direct-to-Consumer and International at The Walt Disney Company. Co-founder Rushton will continue to pursue his existing responsibilities overseeing growth in local markets, rights and content.
Rushton has more than 25 years of experience in the sports industry under his belt, having spent the vast part of his career at Perform Group. There he led a number of key innovations, market expansion and revenue growth. This included the 2016 launch of DAZN, which is now available in more than 200 countries and territories.
As part of DAZN’s extensive leadership changes, Darren Waterman has joined as Group CFO. Waterman is based in London and brings with him valuable experience from Amazon, the world’s most valuable brand. He led the Finance team that was responsible for Prime Video’s international operations.
DAZN has welcomed Waterman to the team, praising his exemplary track record in geographic expansion, streaming, product innovation and investment in sports, TV and film content. Waterman is a veteran TMT industry executive, and his skills will be indispensable at DAZN.
Global Growth
Stuart Epstein will continue in the role of DAZN’s Senior Advisor and as a member of the board, after spending nearly four years as CFO. This will allow a smooth transition of his present roles and responsibilities during the first half of this year. DAZN’s Group Chairman, Kevin Mayer, was pleased to announce the company’s leadership changes, telling the press:
“DAZN has become the global leader in sports streaming in just five years and it is time to take this business to the next level. Shay’s technology background and outstanding history of delivering a strong performance culture will be hugely beneficial as DAZN introduces additional interactive fan engagement services such as betting and e-commerce for users to enjoy alongside our core offering of live sports streaming.”
Mayer also took the opportunity to welcome Rushton, Epstein and Waterman to their new positions in the group, praising their credentials and the hard work they have already shown. He added that DAZN’s success in being able to attract such a high caliber of individuals proves its strength and is a positive indicator for its future.
The ambitious restructuring of DAZN’s top ranks follows a period of substantial global momentum for the company. Before Christmas, it won domestic LaLiga rights in Spain, allowing it to broadcast 175 matches over the next five seasons. The deal will see DAZN air a total of five matches per matchweek from 2022 to 2027.
The OTT subscription streaming service was also named Apple TV App of the Year for 2021, as it reached a record number of sporting fans worldwide. It projects that 2022 will bring fans even more in the way of interactive and engaging experiences. DAZN aims to make further headway innovating betting, gaming, e-commerce, and NFT products.
DAZN is currently in talks to acquire BT Sport, and it has been reported that its $800 million bid is likely to be successful. The purchase would grant DAZN exclusive rights to air Premier League and Champions League matches, substantially elevating its UK offerings.
