Simon Duffy
Viaplay has announced its withdrawing its previously published full year 2023 outlook.
It follows a review of the Group’s operations and performance by recently appointed CEO Jørgen Madsen Lindemann.
In a statement, the troubled Scandi streaming company said there would be no change to the Group’s Q2 2023 guidance. An update on strategy and the medium term outlook is due to be published with the publication of the Q2 results on 20 July 2023.
Lindemann, who returned to Viaplay in June immediately embarked on a review of the Group’s operations – the withdrawal of guidance comes as part of the review – and reflects a significantly weaker forward revenue and earnings outlook for the Nordic operations in particular.
The 20 July announcement is expected to include an update on the ongoing redundancy programme, content savings initiatives, a review of the international operations and non-core assets, and discussions with distribution partners.
Separately, Pernille Erenbjerg has notified Viaplay’s Nomination Committee that she is standing down from the Board due to ill health with immediate effect. The Board, after discussion with the Nomination Committee, has appointed existing non-executive Board Director Simon Duffy as Interim Chair while they search for a permanent successor.
