Sweden’s Viaplay continues to head back towards the black, as its fourth quarter financial results showed losses dramatically shorten.
The Nordic streaming service reported a Q4 operating loss of SEK92M ($8.6M), way down from SEK2.7B last year when the company was firefighting huge financial gaps and moving to a new strategy based around unscripted programs and sports. Q4’s net loss was also significantly down, from SEK 2.86B to SEK230M.
When associated company income (ACI) and items affecting comparability (IAC) were removed, Viaplay actually made an operating profit of SEK174M.
Clearly, a huge chunk of the turnaround has come from cuts, as total net sales in Q4 were actually down slightly at SEK 4.83B, from SEK4.9B a year ago. Full-year sales were also down slightly, from SEK18.57B in 2023 to SEK18.49B this year, but losses fell from a whopping SEK10.28B to SEK558M.
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Viaplay pointed to 5% organic sales growth in its core operations, which now comprise the Nordics, Netherlands and stramer Viaplay Select. The Stockholm-based company said it is targeting “low-to-mid single-digit percentage revenue growth” and positive cash flow across 2025, per previous guidance. Net debt at the end of the year stood at SEK829M.
Viaplay President and CEO Mads Jørgen Lindemann said the results reflect a “commitment to enhancing efficiency, maximising returns on investment, addressing value leakage across all areas, and maintaining strict cost control.”
Lindemann was drafted in to replace Anders Jensen in 2023 amid a financial crisis at the Nordic streamer, which had stretched itself through a series of failed international launches and a huge investment in expensive scripted originals. Following a brutal period of staff cuts, assets sales and a recap recap program, he vowed last year that, “Moving forward, our company will be different.”
He added that while financial progress was made in 2024, “much remains to be done as we continue our efforts to retransform Viaplay Group into a strong and sustainable business to the benefit of all stakeholders.”
Sports will play a large role in the strategy, with events such as the Premier League, the Handball World Cup, and the Champions’ League knockout stages, as well as ongoing FIS winter sports competitions and the upcoming Formula 1 season would provide a strong backbone of rights.
On the unscripted front, Viaplay is planning new seasons of Paradise Hotel, Expedition Robinson (Robinson Ekspeditionen) and Luxury Trap and new formats such as Better Sex, Elbæks – Real Estate for Millions, Tobias & Patricia: Love in Chaos and Borgs 24/7.
“Our portfolio of world-class sports and relevant local formats is unique, and both data and external research confirm that audiences place great value on our content,” said Lindemann. “During the year, we have taken important steps to further monetise this portfolio, including the introduction of the HVOD tier and account-sharing restrictions on Viaplay, as well as the sale of sports and non-sports content to third parties. We will continue to transform, innovate and refine our value proposition for subscribers, suppliers, and partners, ensuring it fully reflects the relevance, impact and value it generates.”
Viaplay’s sales division, Viaplay Content Distribution, is heading to the London TV Screenings next week is shop shows such as SVT drama Vanguard, about a socialite who is forced to lead a family’s powerful industrial group, and documentary The Bunker, which tells the story of Isabel Eriksson, who was imprisoned and held captive by Dr. Martin Trenneborg, described by the media as ‘Sweden’s Fritzl’.
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