Viaplay Reports Significant Q4 Loss Following Allente Deal, Yet CEO Asserts Improved Competitive Position
Viaplay reported significant losses in the fourth quarter, largely attributed to its full acquisition of Allente Group. Despite a decline in sales for the full year 2025, CEO Jørgen Madsen Lindemann expressed optimism, stating, “we are in a more competitive position than a year ago.”
The Scandinavian entertainment company, currently navigating a recovery phase following a major recapitalization and workforce reductions, recorded operating losses of SEK 637 million ($860 million) in the last quarter. Notably, if income from associated companies and items affecting comparability were excluded, Viaplay would have achieved an operating profit of SEK 158 million.
Sales showed a slight uptick for the quarter, although the overall sales for the year dipped by approximately 5% to SEK 17.6 billion.
The acquisition of the remaining 50% stake in satellite firm Allente was finalized in the previous quarter, which prompted Viaplay to adjust its full-year outlook for 2025.
Lindemann anticipates realizable synergies between Viaplay and Allente, projecting annual cash synergies of between SEK 300 million ($33 million) to SEK 400 million by 2027.
Looking ahead, Lindemann indicated that sales should remain “stable on an organic basis” in 2026, aligning with the company’s long-term ambitions. He also noted that growth in streaming and digital ad sales would be counterbalanced by declines in linear and traditional advertising, with expectations of annual EBITDA ranging from SEK 1 billion to SEK 1.4 billion.
He acknowledged, however, that content costs are likely to keep rising in 2026 due to existing multi-year agreements that include inflation clauses established prior to the Group’s recapitalization. “We are negotiating the extension of legacy content and distribution agreements where commercial terms can be improved, and exiting or replacing agreements where this is not possible,” he stated.
Lindemann referred to the period after 2023 when he took over from former CEO Anders Jensen amid an economic downturn and high content overspending. Since then, he has implemented major strategic changes and an extensive layoff plan.
“We are in a more competitive position than a year ago, but we still have much to do to deliver on our transformation agenda and goals,” Lindemann added. “Together, we are building a more focused, more relevant, and more resilient Group that will create long-term value for our owners, customers, teams, and partners.”
Next week, Viaplay executives will be in London for the London TV Screenings, promoting shows such as Nigel Havers-starrer Golden Boy as the company strives for recovery.
