NENT lifts subscriber target for Viaplay as it targets UK and Germany
- Launch Viaplay in five new markets
- Target 12 million Viaplay customers by the end of 2025
STOCKHOLM, Sept.22 (Reuters) – Swedish media group NENT (NENTb.ST) on Wednesday increased the subscriber target for its Viaplay business and announced that the streaming service would enter five new markets, including Great Britain. Brittany and Germany.
Ahead of a presentation to investors and media, NENT said it is now targeting 12 million Viaplay subscribers by the end of 2025, up from 10.5 million previously and up from 3.3 million subscribers at the end of June.
It also forecasts compound annual organic growth of 2020-2025 sales at the top of its target ranges – 18% to 20% for the group and 13% to 15% for its Nordic operations.
NENT competes with streaming giant Netflix (NFLX.O), the market leader in the Nordic countries, as well as Disney (DIS.N), which launched Disney + in the region last year.
The company, which is currently launching the “Ronja the Robber’s Daughter” and “The Prize of Silence” series, said it would bring Viaplay to Britain, Canada, Germany, Austria and Switzerland, bringing the number of markets to 16 by the end of 2023..
It has already announced its launch in the United States this year.
NENT has also set a new target of 23% to 25% annual compounded organic sales growth for Viaplay in the Nordic markets for 2020-2025.
The company has created dark and psychological crime shows such as “Wisting” and “Darkness: Those who Kill” and plans to create at least 50 original titles this year.
Local competitors include C More of Bonnier Broadcasting, owned by Telia Company (TELIA.ST), and Swedish state-owned company SVT.
NENT shares, up 6% so far this year through Tuesday, rose 1.8% early in trading.
Reporting by Anna Ringstrom; Editing by Sherry Jacob-Phillips and Mark Potter
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