Viaplay reports 3.4% rise in Q4 organic sales amid recapitalisation

Viaplay sales surge: Swedish video streaming company Viaplay reported a 3.4 per cent increase in its organic sales for the fourth quarter, supported by ongoing growth in total sales, despite a slight revenue decline in its main market, the Nordic region.

Viaplay recently completed a 4 billion Swedish crown ($387 million) recapitalisation, aiming to stabilise its business amid increasing living costs that are impacting consumer demand.

CEO Jorgen Madsen Lindemann stated, "The recently completed recapitalisation is part of the retransformation of Viaplay Group, which is work in progress and will take time."

The company, which competes with streaming giants like Netflix and Disney+, recorded an operating loss before associated company income and items affecting comparability of 230 million crowns for the last three months of 2023, compared to a loss of 284 million in the same period a year earlier.

(with Reuters inputs)