Increases in revenues across the Nordic region helped MTG to record third quarter sales.
The Stockholm-based media company banked sales of SEK 4,126 million, representing organic growth of 7%.
“Our strongest ever content offering boosted viewing levels, advertising market shares, subscriber pricing and intake, and accelerated revenues,” said Jørgen Madsen Lindemann President & Chief Executive Officer. “We are also premiering a number of new original dramas on Viaplay and have a pipeline of exciting new projects to come, a number of which are being produced by our own in-house studios.”
Nordic Entertainment revenues increased by 11%, the highest rate of growth since Q4 2010, as Swedish viewers enjoyed coverage of the Rio Olympics. MTG shook off worries over declining broadcast audiences with increases in advertising revenue in Sweden and Norway.
Pay-TV sales remained on track, helped by catch up service Viaplay, though satellite subscriptions continue to decline.
Outside the Nordics sales were down following the deconsolidation of the Hungarian free-TV business and the Russian and international pay-TV channel businesses from November 2015, and the Ukrainian pay-TV business from the end of 2015.
International sales were up 8% on an organic basis across the various free-TV operatations.
The Bulgarian, Czech and pan-Baltic TV advertising markets are all estimated to have grown. The Bulgarian and Czech audience shares were up while the pan-Baltic share was down.
