Streaming group Viaplay posts 3% organic sales growth in Q4 (updated)

Viaplay AB (publ)

22/02/2024 06:49

(Adds operating loss, quote and context)
       Feb 22 (Reuters) - Swedish video streaming company
Viaplay  VPLAYb.ST  on Thursday reported a 3.4% increase in its
organic sales for the fourth quarter, aided by continued growth
in the group's total sales even as revenue in the Nordic region,
its main market, declined slightly.
    Under pressure to stabilise its business as rising living
costs dent consumer demand, Viaplay earlier this month completed
a 4 billion Swedish crown ($387 million) recapitalisation.
    "The recently completed recapitalisation is part of the
retransformation of Viaplay Group, which is work in progress and
will take time," CEO Jorgen Madsen Lindemann said in a
statement.
    The group, which competes with Netflix and Disney+, reported
an operating loss before associated company income and items
affecting comparability of 230 million crowns for the last three
months of 2023, compared with a loss of 284 million a year
earlier.
($1 = 10.3319 Swedish crowns)

 (Reporting by Marta Frąckowiak in Gdansk; editing by Milla
Nissi)
 ((marta.frackowiak@thomsonreuters.com))