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TNT Sports holds rights to several major sports properties in the UK, including Europe’s UEFA Champions League. (Michael Regan/Getty Images)
The TNT Sports UK and Ireland pay-TV broadcaster lost a substantial £187.5 million ($250.1 million) – pre-tax – in the 12 months up to July 31, 2024.
The accounts for the network – owned by media and entertainment giant Warner Bros. Discovery – show a sizeable increase in losses from the 2023 financial figures, when TNT Sports lost £73.4 million pre-tax.
This came despite a customer revenue increase year-on-year, from £1.09 billion to £1.15 billion.
TNT Sports was rebranded as such in 2023, through a joint venture between telecoms heavyweight BT and WBD. The broadcaster had previously been called BT Sport.
These latest accounts are the first issued that cover the period immediately following the rebrand.
In terms of the different revenue sectors, distribution income rose year-on-year from £1.03 billion to £1.07 billion, with advertising revenue increasing from £51.1 million to £72.2 million.
TNT Sports – which holds rights to a range of top-tier sporting properties, including across soccer (like the iconic UEFA Champions League and English Premier League ), rugby union, boxing, basketball, and sailing – brought in £6.2 million in content revenue, meanwhile, up from £5.3 million the prior year.
The TNT Sports board has now stated: “The UK sports broadcasting sector is a mature market driven by strong demand for live sports content, widely distributed across digital and traditional platforms.
“The rise of streaming services offers further opportunities to enhance viewer experiences.
“The strategy of the company is to capitalize on this strong demand for live sport to deliver growth whilst also developing further product improvements to drive customer value.”
In terms of the revenue split across the UK and Ireland, Great Britain brought in the vast majority, £1.13 billion, up from £1.07 billion in 2023.
At the end of February, WBD discontinued its range of Eurosport channels in the UK, with action covered by the broadcaster now merging into TNT Sports.
The total line-up of live sport as well as non-live content currently available on Eurosport in the UK – such as top-tier grand slam tennis, and grand tour cycling – is now instead viewable on the various TNT Sports platforms, and through WBD’s Discovery+ UK streaming platform.
This, in effect, puts WBD’s range of sporting content – live action as well as shoulder programming and documentaries – under one roof in the UK.
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