According to the company, the weak outlook is the sum of many factors. The Finns immediately grabbed the price of the channel package.
Viaplay’s logo is a familiar sight at major sporting events around the world. PDO
Viaplay Group, the Swedish parent company of Viaplay, which shows NHL, Formula 1, Premier League and cross-country skiing in Finland, issued a negative profit warning on Monday.
Due to worse forecast signs than before, the stock price of the company listed on the Stockholm stock exchange took a sharp plunge. While Viaplay Group’s series B shares were traded at a price of around 225 kroner on Friday, more than half of the price went away on Monday. After 11 o’clock Finnish time, the company’s shares were traded at a price of less than 95 kroner.
The price of the company, which was listed on the stock exchange in spring 2019, is now at an all-time low. The company’s CEO Anders Jensen resigned. It was replaced Jorgen Madsen Lindemann.
The investor commented
In Finland, Viaplay has received criticism from the sports community for its prices. At the beginning of the year, the company announced that it would raise the price of its Elisa Viihde Viaplay Total package to 44.99 euros per month.
On Twitter, the company’s Monday announcement spawned some Finnish comments.
– You should probably think about that pricing again and start creating those different TV packages, one wrote.
– Constantly raising prices and not listening to customer feedback was not a good strategy, commented another.
Also a well-known investor Weak Medium comment on the matter sharply.
– It seems that things haven’t gone well with Viaplay.
Movies and series
According to the company, the weaker outlook than before is due to several different factors. Viaplay says that sales of both streaming services and advertising sales are declining. The company has also not been able to implement the planned savings.
Viaplay has invested heavily in sports TV rights, but it also shows TV series and movies. International and domestic series and movies can be watched on the service for a monthly price of 12.99 euros.
The company has been criticized for the fact that if a consumer only wants to watch, for example, the hockey NHL, he has to buy the previously mentioned Total package at a price of almost 45 euros.