Streaming company due to announce range of measures including a review of its international services, including the UK.
Viaplay embarked on a rapid international expansion in the past few years. In the UK, this resulted in the company taking over Premier Sports and acquiring a range of additional sports rights ahead of its UK launch last year.
But as streamers struggle internationally, consumers cut back on the number of subscriptions they hold and the TV advertising market suffers, Viaplay has come under pressure.
Last month, it said subscription sales were lower than expected. This week it’s told investors it’s had to withdraw the previously published outlook for 2023, with much weaker revenue and earnings expected.
Next Thursday 20th July, Viaplay is due to present an update on the company’s situation. This is expected to include a review of its international operations and cost-cutting measures.
Following rumours that Viaplay may withdraw from some countries to focus on its core Nordic markets, the company has said it will not be able to make any further comments until the 20th July announcement. There’s been some speculation that it may either sub-licence or hand back some sports rights it’s acquired across Europe.
Some of Viaplay’s current operating losses (325m Swedish Krona, approximately £24.1m) are due to upscaling its operations in the UK and launching a service in the USA and Canada.
Viaplay UK currently offers a range of sports from £14.99 a month on a rolling monthly subscription. Sports coverage includes football from La Liga and the UEFA Nations League, NHL ice hockey and PDC Darts.
Marc Thornham