By Jesse Whittock, Max Goldbart

Viaplay Results: Focus on Core Activities That Work Slowly

Viaplay's focus on doing what it does best was reflected in its latest quarterly results, with a slight decline in total revenue but a similar margin increase in core revenue. Since the departure of former CEO Anders Jensen Amid financial turmoil last year, the Scandinavian outfit has focused on creating far less original content and boosting sports rights. Today, revenue in Q2 was revealed to have fallen slightly to SEK4.49B ($424M) , while core sales increased by a similar amount to SEK4.29B. In further signs of green shoots a year after Jensen's departure, the operating result, while still in the red, was only minus SEK70M, compared to minus SEK273M in Q2 2023. Jensen's replacement as CEO, Jørgen Madsen Lindemann, said: "Our focused work to transform Viaplay Group is progressing, with substantial changes being implemented across the business, with many more to come." He pointed to new long-term rights to sports partnerships signed with Formula 1 and UEFA, which will "deliver increased viewing figures and further commercial opportunities." While Lindemann said Viaplay films and shows like Wisting are doing better, streaming subscription revenue fell about 1%, which the group attributed to "a decline in subscribers, partially offset by price increases in almost all markets." The company laid off about 30% of its staff last year and withdrew from a number of markets, including the UK.

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