Nordic streaming platform Viaplay has reported total reported Q1 group net sales of SEK 4.3 billion (€0.39bn) and total operating income before associated company income (ACI) and items affecting comparability (IAC) of SEK -227 million.

Total operating income stood at SEK 38 million including ACI of SEK 34 million and IAC of SEK 231 million. Net income was SEK -125 million.

In a lengthy press statement, Jørgen Madsen Lindemann, Viaplay President & CEO, said: “It has now been one year since we finalised the recapitalisation of Viaplay Group. Since then, we have refined our content strategy, launched new products, strengthened monetisation, and sold our UK business and studio operations, and are on track to exit the remaining non-core market by summer 2025. We have secured long-term key sports rights, and formed new partnerships that support our strategic direction. We have identified and dealt with a range of value-leaking partnerships and products. While we have taken important steps, there is still much to do.”

“Execution remains our absolute priority as we now build on the transformation with a clear focus on value over volume in our operations, investments, and partnerships. Through extensive consumer research together with partners, we understand the impact of our storytelling and that it resonates with broad audiences. Our products continue to be relevant, appreciated, and competitive in terms of both quality and price. Our Core market D2C business and subscriber base grew year-on-year, in both Film & Series and Sports. At the same time, viewing increased on our free-TV channels in every core market.  As we move forward, we are focused on building long-term flexible and profitable models that deliver for Viaplay Group, our partners, and our viewers – models that are fair, sustainable, and built on mutual value.”

“During the quarter, our world-class sports slate once again delivered millions of viewing hours across our markets. The Premier League, FIS World Cup events, and the new Formula 1 season attracted wide interest and delivered high engagement. We continue to maximise the reach and return of our rights portfolio through relevant packaging, distribution innovation, and selective sublicensing agreements. And with the UEFA finals, the ongoing Formula 1 season and the Ice Hockey World Cup in May, our viewers have even more excitement to enjoy as we move into Q2.”

“Our revised content strategy – centred on highly relevant, commercial formats continues to resonate with audiences and generate return on investment. Returning hits such as Paradise Hotel in both Denmark and Norway premiered new seasons and delivered strong viewing and engagement, both ranking as the most viewed non-sports shows in their respective countries. New launches such as Better Sex and St Görans Sjukhus in Sweden also demonstrate the potential of bold new storytelling with wide local appeal across platforms. This combination of proven formats and new ideas supports both audience satisfaction and improved investment efficiency.”

“Viaplay streaming subscription organic sales increased by 1 per cent, despite lower subscriber figures compared to previous year. This due to the D2C ARPU continued to grow both year-on-year and sequentially reflecting implemented price adjustment and a more favorable mix. The overall core subscriber base decreased compared to previous year as growth within D2C was offset by B2B decline.”

“The 2 per cent organic sales growth in Linear channel subscriptions reflected new partnership agreements and pricing adjustments offset by volume decline. In advertising, the structural shift from linear to digital continues. Digital advertising, including HVoD, and radio offset the linear decline, resulting in organic growth of 1 per cent. Our HVoD offering is now also available in the Netherlands.”

“As expected, Sublicensing and Other decreased 53 per cent organically compared to last year, as sublicensing in sports during the quarter did not offset the large volumes of scripted content sales in the prior year. As we have previously said, 2025 will be more about creative partnerships and sports sublicensing agreements than large one-off content sales.”

“Core operating losses before ACI and IAC improved year-on-year and amounted to SEK -222 million. As in previous quarters, the underlying improvement was even stronger when accounting for significant FX headwinds, which negatively impacted the result by approximately SEK 110 million. The result was driven by lower sales in Sublicensing and Other, partly offset by lower costs. The year-on-year development reflects continued cost control and a more focused content strategy, with improved operating leverage across the Core business.

“Structural comparisons are easier in the first half of the year and will become more challenging in the second, reflecting the contractual step-up in sports rights costs and the full-year impact of initiatives introduced in 2024, including new product launches and sublicensing agreements.”

“Together with our partners, we continue to drive transformation, product innovation, and sharpen our value proposition for subscribers, suppliers, and partners – ensuring it fully reflects its relevance, impact, and the value it generates”.

“There is still much to be done, and we will continue to focus on the actions that move the needle. Our curious and creative people remain fully focused on operational improvements, new commercial opportunities, and smart ways to bring our content to market together with our partners. We know the value of what we create and deliver. And while we will stay flexible, we will not compromise on our belief that collaborations must be fair, sustainable, and deliver joint long-term value. This means forming new, creative collaborations that reflect our strategy and ambitions and, in some cases, parting ways where alignment no longer exists. That is the only way to build a stronger business – for us, for our partners, and for the audiences we serve,” he concluded.

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Categories: Articles, Business, Results

Tags: f1, nordics, OTT, viaplay