FILE PHOTO: Nordic Entertainment Group (NENT) sign is seen at their headquarters in Stockholm, Sweden October 1, 2018. REUTERS/Olof Swahnberg/File Photo
September 22, 2021
STOCKHOLM (Reuters) – NENT, a Swedish company challenging streaming giants such as Netflix in the Nordics, said on Wednesday that it expected its organic sales growth in the coming years to scale the upper end of its target range.
The Swedish media group said ahead of a presentation to investors and media that it expects 2020-2025 compound annual organic sales growth at the upper end of its target ranges – 18%-20% for the group and 13%-15% for its Nordic operations.
It also set a new target of 23%-25% compound annual organic sales growth for its Viaplay streaming service in the Nordic markets.
NENT said it would launch Viaplay in Britain, Canada, Germany, Austria and Switzerland, taking the number of markets to 16 by the end of 2023, and announced a new target of 12 million Viaplay subscribers by the end of 2025.
The company said it was targeting an operating profit margin in the Nordics of about 15% in 2025, with a long-term margin of around 20%.
(Reporting by Anna Ringstrom; Editing by Christopher Cushing and Sherry Jacob-Phillips)