NENT Group’s streaming service Viaplay set to expand into five new markets by 2023
- The Nordic platform is due to launch in the UK, Canada, Germany, Austria and Switzerland, aiming to reach 12 million subscribers by the end of 2025
Today, NENT Group’s streaming service Viaplay announced its expansion into five new markets – namely, the UK, Canada, Germany, Austria and Switzerland. It will be available in a total of 16 countries by the end of 2023 (compared with the original target of 15 announced in November 2020) and will aim to reach 12 million subscribers by the end of 2025.
In detail, the streaming service will launch in the UK in the second half of 2022, and then in Canada, Germany, Austria and Switzerland over the course of 2023.
In the official press release, the company disclosed that Viaplay’s accelerated expansion, along with successful recent launches in the Baltic republics and Poland, plus upcoming launches in the USA and the Netherlands, will contribute to “compounding the group’s annual organic sales growth in 2020-2025 in the upper end of the previously provided target range of approximately 18-20%”. Furthermore, the ongoing positive development of the group’s Nordic operations is now expected to result in compound annual organic sales growth in 2020-2025 in the upper end of the previously provided target range of approximately 13-15%, with Viaplay growing at a compound annual rate of approximately 23-25% in the Nordic region over the same period.
Said expansion plans are fully funded following the February 2021 equity raise. Speaking about this strategic move, NENT Group president and CEO Anders Jensen commented: “We have stepped up the pace and scale of Viaplay’s international expansion. We have acquired virtually all of the international sports rights that we targeted, and for multiple cycles in several cases; added one more market to our roll-out ambition; signed innovative partnership agreements; and raised the bar when it comes to our investments in original content. As a result, we are increasing our subscriber and revenue growth targets, as well as our target profitability levels. We are investing more in the short term to create even higher long-term returns, due to the considerable operating leverage that this creates. We are investing in this growth right now, in order to capitalise on the opportunity created as the shift to streaming video consumption continues to accelerate, and demand for high-quality and locally relevant stories increases.”
Viaplay confirmed that, upon launch, its offering in the five new markets would include Nordic, local and international series, films, documentaries and children’s content, both original and acquired. The service will be available on a direct-to-consumer basis, as well as through partnerships with local distributors.
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