Viaplay has experienced significant success in the Nordics in the past few years and recently expanded its DTC service to UK, US and Canada. However, after a review of the company’s Q2 performance, the streaming service is now exiting these markets, together with Poland, as part of a cost-cutting move and refocus on its core business in the Nordics and Netherlands.
Viaplay’s Q2 outlook shows acquired and original unscripted content were viewed more in 2022 compared to its original scripted content resulting in a reorganisation of content spending in the company, increasing acquired content by 10% and reducing original scripted content by 13% by 2024. As part of its new strategy, Viaplay will focus on selling its content internationally through its branded content concept, Viaplay Select.
Viaplay’s acquired content includes those from multiple volume deals with US studios thus becoming one of the top local players in premiering US shows in the Nordics. 3Vision’s Show Tracker reveals how much Viaplay has contributed to premiering English-language content in active markets.
In 2022, a deal was signed with Paramount for CBS, Paramount, Showtime shows in the Nordic and Baltic regions, Poland and Netherlands as well as with Sony for licensing in the Nordics.
Before the launch of SkyShowtime, Viaplay was the leading service to release Paramount shows in Poland and Sweden. However, since the Paramount co-owned service debuted in each market, it quickly became the major provider of Paramount shows. On the other hand, Sony, which lacked its own SVOD service, continue to be available primarily on Viaplay in Sweden and Netherlands, while much of SPE content went to HBO Max and Canal+ in Poland.
Although Viaplay’s DTC service is closing down in its newly launched markets, Viaplay still maintain a presence in 21 markets through Viaplay Select on local partner platforms (Play in Poland, Crave in Canada). In addition, Canal+ has recently acquired a 12 % stake in Viaplay as part of the French group’s plan to compete with global streamers showing future potential in the Scandinavian streamer.
Viaplay’s quick-decision to shift its focus to its home market shows its priority to concentrate on its existing success rather than holding out for uncertain gains in markets with high competition may prove to be a smart decision in the long-run.
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