Sweden’s MTG has posted a higher than expected Q3 core profit and said it still expected higher sales and operating margin for its Nordic pay-TV business this year.
Operating profit excluding associated companies and non-recurring items rose to 215 million Swedish crowns ($29.5 million) from a 162 million a year ago.
In a statement, the company said: “This was another quarter of profitable growth as our organic investments and acquisitions generated not only higher sales but also increased profits. We are making significant progress across the business and delivering on our strategic plans. The combined Nordic free and pay-TV operations again delivered higher sales and profits, as continued Viaplay growth more than compensated for lower linear viewing. The combined Emerging Markets free and pay-TV businesses also grew their sales both organically and through the acquisition of Trace, but higher profits in the pay-TV operations, as well as a number of the free-TV operations, were offset by our performance in the highly competitive Czech market. Our in-house Nice Entertainment content production business has now doubled in size and we are also continuing to invest in our MTGx digital acceleration platform.”
“We are capturing more and more online subscribers and viewers, and our reach is increasing all the time as we further develop our product offerings. This quarter alone, we added exclusive content from Viacom’s Nickelodeon and Disney’s Maker Studios, extended our Formula One motor racing partnership, and acquired the exclusive rights for the Bulgarian football championship. These content deals demonstrate the multiple monetization opportunities that come from buying rights for multiple media windows across multiple territories.”