Scandinavian streamer Viaplay struggles, CEO Anders Jensen comes out – The Hollywood Reporter
Anders Jensen has resigned as CEO of Scandinavian media group Viaplay after a miserable quarter of declining ad sales and dwindling subscribers.
Jensen, credited with Viaplay’s aggressive move into original production and the Nordic company’s streaming-first focus, is stepping down after five years as CEO and will be replaced by Jorgen Madsen Lindemann, the former CEO of Viaplay’s former parent company MTG.
Viaplay announced Jensen’s resignation early Monday morning after releasing second-quarter results showing the company reported an operating loss (EBIT) of between US$23.1 million and US$27.7 million (200-300 million Swedish kronor). billion Swedish krona (US$415-420 million) with expected sales of between US$4.5 billion and US$4.6 billion.
It was bad news all round. Ad sales declined by double digits, with ad revenue expected to decline between 12 percent and 16 percent on an organic basis. Due to the “severe and rapid deterioration in television and radio advertising markets,” the streaming and pay-TV business is ailing, with “lower demand in the Nordic and international streaming D2C subscription markets and lower wholesale subscription sales by linear distribution partners.” And cost reductions at the company led only slowly to the expected savings.
The situation is so dire that Viplay has withdrawn its 2025 operational and financial targets and will present a new mid-term outlook on July 20.
“Given the current challenges, it is best for the company if I resign and that is why I have made the decision to do so,” Jensen said in a statement. “I wish the company and the team all the best for the future.”
Jensen had gambled heavily on the future of streaming and original programming at Viaplay, aggressively ramping up original productions – the company just greenlit a new drama series from Snabba Cash Author Jens Lapidus – and snapped up expensive sports rights for his premium services. Jensen also had international ambitions, launching a version of his Nordic streaming service in the UK last year and in the US in February.
