The entertainment company is seeing increased revenues from both new markets such as esports and the more traditional linear broadcasting.
“Nordic Entertainment generated 3% organic growth against tough comparisons, as we had exclusive coverage of the Rio Olympics and the Ice Hockey World Cup last year in Sweden, but we continued to benefit from higher advertising and subscription prices with further usage and revenue expansion for both Viaplay and Viafree,” explained Jørgen Madsen Lindemann, President & Chief Executive Officer.
Esports grew by 49 per cent within the MTGx business, but losses increased as the company looks to expand its presence in the market. “It remains our ambition to deliver a first quarterly profit for MTGx in the fourth quarter of this year, but at a lower level than previously anticipated,” said Madsen Lindemann.
MTG increased net sales from SEK 3.7 to 4.3 billion, representing organic growth of 7 per cent.
Operating profit increased by 83 per cent to SEK 257 million.