Viaplay is letting go of more than 25% of its staff as it pulls streaming out of the U.S. and UK and mulls a sale. The embattled Nordic operation has unveiled a new strategy and plan alongside its …
Going forwards, Viaplay will discontinue its low tier non-sports offering in the likes of the U.S. and UK and focus on the Nordic and Dutch markets, along with the sale of content internationally via Viaplay Select. It will continue focusing on Nordic originals, the likes of upcoming series. Viaplay, which rebranded from NENT last year, had nascent operations in the UK, U.S. and other markets such as Germany under Jensen, but is retrenching to focus on its heartlands and distribution.
Lindemann has therefore initiated an immediate strategic review of the entire business to consider all options including “equity injections or the sale of the whole Group.” He said: “We are today announcing a new strategy and plan, which includes, but is not limited to, focusing on our core Nordic, Netherlands and Viaplay Select operations; implementing a new operational model; downsizing, partnering or exiting our other international markets; rightsizing and pricing our product offering in the Nordics and undertaking a major cost reduction programme.”
The redundancy decision was taken “for the sake of the future of our business,” he added, describing the move as “regrettable.”
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