Viaplay: losses of €876m after a 2023 financial year marked by a recapitalisation plan

Swedish audiovisual group Viaplay posted net sales of SEK18.567bn (€1.67bn) in 2023, up 18.33% on 2022 (SEK15.691bn/€1.4bn), according to results published on 22/02/2024.

Viaplay, on the other hand, reported an operating loss of SEK10.276bn (€923.7m) in 2023, compared with an operating profit of SEK413m (€37m) in 2022. Viaplay's net loss was SEK9.747bn (€876.1m) in 2023, compared with a net profit of SEK323m (€29m) in 2022.

The group carried out a SEK4bn (€354m) recapitalisation plan on 01/12/2023, finalised on 09/02/2024. Viaplay launched the closure of its streaming service in several territories at the end of 2023. The platform will be officially closed in Canada on 28 and in the United States on 29/02/2024. Viaplay had previously initiated, on 20/07/2023, a programme to reduce its costs and lay off 25% of its workforce following poor financial performance.