Jonah Hauer-King is the latest actor to become a Disney Prince, but he faced stiff competition for the part!
20.07.2023 - 07:17 / deadline.com
Viaplay is letting go of more than 25% of its staff as it pulls streaming out of the U.S. and UK and mulls a sale.
The embattled Nordic operation has unveiled a new strategy and plan alongside its Q2 results, which improved on last year but have been paired with a decision to “regrettably let go of more than 25% of our people,” according to new CEO Jørgen Madsen Lindemann, who replaced Anders Jensen last month with immediate effect.
Redundancies will impact around 450 people and the cost of restructuring will be approximately 45M Swedish Krona ($4M), according to today’s Q2 update, with Lindemann set to address investors and journalists in the next hour. The move comes in the same week that Germany’s ProSiebenSat.1 also said it would cut around 400 roles.
Going forwards, Viaplay will discontinue its low tier non-sports offering in the likes of the U.S. and UK and focus on the Nordic and Dutch markets, along with the sale of content internationally via Viaplay Select. It will continue focusing on Nordic originals, the likes of upcoming series Ronja the Robber’s Daughter (pictured), Lasse Hallström’s Hilma biopic and an incoming three-season English-language TV series of Camilla Läckberg and Henrik Fexeus’ bestselling crime novels. Viaplay will continue focusing on its sports rights strategy.
Viaplay, which rebranded from NENT last year, had nascent operations in the UK, U.S. and other markets such as Germany under Jensen including a high-profile Rebus reboot, but is retrenching to focus on its heartlands and distribution. Jensen said “international expansion assumptions, including the timelines to profitability, have also been pushed materially into the future and we are moving quickly to address all of these
Jonah Hauer-King is the latest actor to become a Disney Prince, but he faced stiff competition for the part!
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Elsa Keslassy International Correspondent After changing its top leadership and merging its Swedish and Norwegian production units, Viaplay, the listed Scandinavian streamer, has announced that it will lay off 25% of its workforce as it plans to focus on its core Nordic and Dutch business. Viaplay’s new CEO and president Jørgen Madsen Lindemann, who recently took over from Anders Jensen, said the layoffs resulted from “the material change in the international business plans, and the fact that not all of the content investments that we have made are paying off.” The second quarter financial results for the group, which were published on Thursday, reveal that the robust organic sales growth of 16% to $448 million was offset by combined TV, radio and AVOD sales being down 16%. Operating income and net income were also down for the group. Operating losses for the full year are predicted to be between $83 million and $102 million.
“We have too much scripted content,” new Viaplay CEO Jørgen Madsen Lindemann said today as he was pressed by investors on the state of the embattled Nordic outfit’s finances and future sustainability.
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Todd Spangler NY Digital Editor Netflix is “more than a year out” from any price increases in its major markets like the U.S. as it looks to spur revenue growth from its password-sharing crackdown, CFO Spence Neumann said. The streamer has “largely paused” price hikes after it began rolling out the paid-sharing program starting in May 2023, Neumann said on the Q2 earnings interview. “Most of our revenue growth this year is from growth in volume, through new paid memberships. And that’s largely driven by our paid-sharing rollout,” he said. “It is our primary revenue accelerator in the year.” Netflix most recently raised prices in the U.S. and other major markets in the first half of 2022, under which its Standard plan — its most popular tier, which provides two simultaneous HD streams — increased by $1.50, to $15.49 per month.
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Anna Tingley If you purchase an independently reviewed product or service through a link on our website, Variety may receive an affiliate commission. As brutal heat waves ripple through the country — with more than 50 million people in the U.S alone suffering triple-digit temperatures this week — it’s never been more important to be outfitted with devices that can keep you cool. While air conditioning units and standing fans are a must in a heat wave, another handy, portable and more affordable device has taken over the streets over the past month: handheld fans.
Naman Ramachandran German media giant ProSiebenSat.1 Group’s continuing realignment after it acquired streamer Joyn in 2022 will result in the loss of 400 jobs. “A realignment of the organization is now taking place, particularly in the entertainment segment. The aim is to achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation. This is a priority in order to continue investing consistently in the future of the group, especially in content and digital offerings,” the group said in a statement on Tuesday. “Against this background, also a reduction in the number of jobs in the group has become necessary: This will affect around 400 full-time positions. The job cuts will be made in a socially responsible manner through a voluntary redundancy program in order to avoid compulsory redundancies as far as possible. The company had agreed on this in talks with employee representatives,” the statement added.