Nordic OTT streaming service Viaplay has published an interim financial report for the first quarter (January to March) of the 2025 financial year, indicating that the company's financial recovery strategy is proceeding at pace despite challenges.
First quarter (Q1) revenue dropped slightly, with the business generating SEK4.3 billion ($446.7 million) from the SEK4.7 billion it made in the first quarter of 2024, resulting in a net loss of SEK125 million across the period, where it had made a SEK605 million profit a year prior.
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Overall, subscriber numbers declined year-on-year (YoY) as a growth in the firm’s direct-to-consumer (DTC) business was offset by a decrease in business-to-business sales.
Expectedly, Viaplay’s sublicensing business also fell by 53% YoY despite strong performance in the sports segment, with scripted content’s performance in 2024 simply too large to offset.
Despite a tough Q1, the second quarter of 2025 could experience an uptick thanks to the return of sports rights such as Formula 1 (which began in April), as well as the upcoming Ice Hockey World Cup in May, and the finals of UEFA’s Europa League and Conference League, all of which Viaplay holds rights for in various territories.
Q1 of 2024 saw Viaplay exit the Baltic market as it restructured its business after a challenging number of years.
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By GlobalDataQ1 this year saw Viaplay launch hybrid video on demand (HVOD) in the Netherlands and introduce new linear channels in collaboration with local partners to expand access to its premium sports offering.
The media group also expanded the number of subscription tier offerings in the Netherlands and raised prices earlier this month ahead of the new F1 season, with that property constituting its most prominent sports rights in the country.
Speaking on the business’ outlook beyond Q1 of 2025, Viaplay president and chief executive Jorgen Madsen Lindemann said: “Execution remains our absolute priority as we now build on the transformation with a clear focus on value over volume in our operations, investments, and partnerships.
“Through extensive consumer research together with partners, we understand the impact of our storytelling and that it resonates with broad audiences. Our products continue to be relevant, appreciated, and competitive in terms of both quality and price.
“Our core market D2C business and subscriber base grew year-on-year, in both film and series and sports. At the same time, viewing increased on our free-TV channels in every core market.”
