STOCKHOLM (Reuters) -NENT, the Swedish media group challenging streaming giants such as Netflix and Disney+ in the Nordics, reported a 28% rise in subscribers, as its plan to expand beyond Scandinavia brought in more viewers.
The company added 322,000 subscribers in the third quarter ended Sept. 30 from the preceding one, of which 36,000 were in the Nordics and 286,000 were international.
NENT’s subscribers of its streaming service Viaplay rose 28% in the quarter, as it expanded to more countries competing with global rivals such as Netflix and Disney+.
Viaplay’s total subscribers rose to 3.6 million. Adjusted operating income, however, fell to 80 million crowns ($9.33 million), compared with 176 million a year ago, including a 200 million crown impact due to Viaplay’s international expansion.
Its subscriber count got a boost due to streaming of sporting events such as the Bundesliga, English Premier League, UEFA competitions and Formula One.
“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,” Chief Executive Officer Anders Jensen said in a statement.
The company’s international markets include Estonia, Latvia, Poland and Lithuania, and it plans to launch in the United States, Britain, Canada, Germany, Austria and Switzerland, taking the number of markets to 16 by the end of 2023.
($1=8.5737 Swedish crowns)
(Reporting by Supantha Mukherjee in Stockholm, Editing by Helena Soderpalm and Rashmi Aich)