Streaming service Viaplay is cutting at least a quarter of jobs worldwide and is withdrawing from several countries. The platform will remain active in the Netherlands, where it broadcasts Formula 1, among other things. The company announced this on Thursday at the presentation of the quarterly figures. Viaplay suffered a loss of 75.2 million Swedish kronor (6.5 million euros) in the second quarter of 2023.
From now on, the Swedish company only wants to focus on the Northern European countries and the Netherlands. This means that the service can no longer be received in the Baltic States, the United Kingdom, the United States, Canada and Poland. It is not known how many of the approximately 1,500 employees will lose their jobs. Viaplay will continue with Viaplay Select, with which the company releases series and films abroad.
Viaplay, which was founded in 2018, is struggling with disappointing financial results. According to the service, this is partly because companies spend less money on advertisements and consumers spend less on streaming platforms due to high inflation. The costs for sports rights and making programs are also increasing. Turnover is still increasing, but not enough to cover all costs. Viaplay currently has about 7 million subscribers and expects the number to increase slightly to 7.2 million by the end of the year.
In the Netherlands, in addition to Formula 1, Viaplay also has the broadcasting rights of darts and the English and German football leagues Premier League and Bundesliga. Well-known presenters on the platform are former NOS presenter Amber Brantsen, Koert Westerman and Anne-Marie Fokkens.