STOCKHOLM, October 26 (Reuters) – NENT (NENTb.ST), the Swedish media group that challenges streaming giants such as Netflix (NFLX.O) and Disney + (DIS.N) in the Nordics, reported an increase in the number of subscribers by 28%, as planned to expand outside Scandinavia gained more viewers.
The company added 322,000 subscribers during the third quarter, which ended on September 30 from the previous one, of which 36,000 were in the Nordic region and 286,000 were international.
NENT’s subscribers to its streaming service Viaplay increased by 28% during the quarter, as it expanded to more countries competing with global rivals such as Netflix (NFLX.O) and Disney + (DIS.N).
Viaplay’s total subscribers rose to 3.6 million. Adjusted operating profit, however, fell to SEK 80 million (USD 9.33 million), compared with SEK 176 million a year ago, including an impact of SEK 200 million due to Viaplay’s international expansion.
The number of subscribers got a boost thanks to the streaming of sporting events such as the Bundesliga, English Premier League, UEFA competitions and Formula 1.
“We have increased our Viaplay Originals ambition to include at least 50 productions for this year and more than 60 for next year, and secured several major new sports rights for the coming years,” says CEO Anders Jensen in a statement.
The company’s international markets include Estonia, Latvia, Poland and Lithuania, and it plans to launch in the US, UK, Canada, Germany, Austria and Switzerland, bringing the number of markets to 16 by the end of 2023.
($ 1 = 8.5737 Swedish kronor)
Reporting by Supantha Mukherjee in Stockholm, editing by Helena Soderpalm and Rashmi Aich
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