Swedish media company NENT is posing a major challenge to leading streaming services such as Netflix and Disney+ in Nordic countries, gaining 322,000 subscribers in the third quarter to its streaming service Viaplay. As a result, the company’s customer base has grown by 28%.
While the company was able to gain 36,000 new subscribers in the Nordics, the remaining 286,000 came from other territories, thereby marking the company’s intention to penetrate the international market.
Currently catering to 3.6 million subscribers, Viaplay’s international push has resulted in rising costs, while the streaming service’s adjusted operating income fell to 80 million crowns ($9.33 million) from 176 million a year ago.
Viaplay’s boost in subscriptions is largely linked to the streaming services’ broadcast of sporting events such as the Bundesliga, Premier League, UEFA Champions League, and Formula One.
Chief Executive Officer Anders Jensen also revealed the company’s goal to compete with other streaming services on the grounds of its original content: “We have increased our Viaplay Originals ambition to bring at least 50 productions for this year and more than 60 for next year, and secured several major new sports rights for years to come.”
