NENT Group added 102,000 new subscribers to its Viaplay service in the last quarter as stay at home audiences turned to the streaming service.
Current subscriber levels of 1,671,000 have climbed by 314,000 over the last year.
The launch in Iceland at the beginning of this month is said to have gone very well, and NENT is planning for further geographical expansion in 2021.
However, while subscriber numbers have enjoyed a strong momentum, the company has been hit by coronavirus, which has impacted on both advertising sales and its studio business.
“Our first priority in this unprecedented situation has been to keep our team safe, and we have consistently worked hard to keep our people healthy, connected and motivated,” said Anders Jensen, President & CEO, NENT Group. “We also acted early and decisively to announce a SEK 700m cost saving programme, all of which will impact this year.”
NENT has already withdrawn its previous outlook for profitable growth.
Net income for the quarter stood at SEK 157 million.
