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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
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Telecom Italia S p A : Streaming app DAZN hikes monthly fee in Italy after Serie A deal

06/01/2021 | 08:55am EDT

MILAN, June 1 (Reuters) - DAZN is hiking the monthly price for its sports video app in Italy after the company, sometimes dubbed the "Netflix of Sport", won the rights to broadcast all the country's top-flight soccer games.

DAZN, which entered the Italian market in 2018, earlier this year secured the rights to show all Serie A games over 2021-2024 in a 2.5 billion euro ($3.1 billion) deal, one of largest for the streaming service in Europe.

The list price for a DAZN subscription in Italy will rise to 29.99 euros ($36.65) per month from July 1, the company said in a statement.

DAZN currently charges a monthly fee of 9.99 euros in Italy.

Current customers, and new customers who subscribe to the service in July, will be offered the sports video service at 19.99 euros for 12 months and 14 months respectively.

No change will be made to the account sharing policy, allowing users to watch the same live event on two different devices, with a maximum of six enabled devices per subscriber, a DAZN source said.

DAZN co-CEO James Rushton told Reuters in an interview the company did not need to dramatically change the number of soccer subscribers in Italy to make its Serie A investment pay off.

Industry sources estimate Italy's subscriber base for soccer broadcasts at around 3.5-4 million.

($1 = 0.8184 euros) (Reporting by Elvira Pollina. Editing by Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NETFLIX, INC. 0.65% 517.57 Delayed Quote.-4.90%
TELECOM ITALIA S.P.A. 0.03% 0.3709 Delayed Quote.-1.72%
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Financials
Sales 2021 15 731 M 18 668 M 18 668 M
Net income 2021 619 M 735 M 735 M
Net Debt 2021 21 266 M 25 237 M 25 237 M
P/E ratio 2021 13,6x
Yield 2021 2,66%
Capitalization 7 998 M 9 487 M 9 491 M
EV / Sales 2021 1,86x
EV / Sales 2022 1,83x
Nbr of Employees 52 392
Free-Float 72,3%
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Number of Analysts 23
Last Close Price 0,37 €
Average target price 0,54 €
Spread / Average Target 44,7%
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Luigi Gubitosi Chief Executive Officer & Executive Director
Giovanni Ronca Chief Financial Officer
Salvatore Rossi Chairman
Michele Gamberini Chief Technology & Information Officer
Herculano Aníbal Alves Chief Technology Officer
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