The boss of Sweden’s TV4 Group says pay-TV platform C More is moving in the right direction, but isn’t going fast enough.
C More was for the third consecutive year Sweden’s fast growing SVOD service, more than doubling its subscriber base, and increasing revenues. However, the premier of its first original drama, Missing, and a new OTT sports package has impacted on losses, although overall the SEK 296 million figure is an improvement on the SEK 307 million of one year ago.
“C More is in the right direction, but not fast enough. Now we are increasing the pace further in our transformation journey. Through the greater collaboration between C More and TV4 Play, we’re creating the maximum conditions for C More to grow even faster in 2018,” says Casten Almqvist.
TV4 Group itself has reported another record year, with an operating profit of SEK 1,022 million. It’s benefited from the growth of its streaming service TV4 Play, with an expanded offer appreciated by advertisers.
“2017 may in retrospect prove to have been an important trend for TV4. We see now how TV4’s total range over time increases because TV4 Play’s growth fully compensates the declining viewership of linear television. Our hope is that what we now see is the outline for a sustainable advertising-television business, which the surge in digital sales also indicates, says Almqvist.
TV4 Play recorded 3.8 million user and accounted for over half of all MMS measured AVOD consumption during the year. At the same time TV4 Group’s linear channels achieved its highest ever audience share.
