Q2 2024 Viaplay Group AB (publ) Earnings Call Transcript
Key Points
- Viaplay Group AB (STU:NEB) achieved 3% organic sales growth in Q2 2024.
- Price increases of 11% to 27% across almost all markets resulted in 1% quarter-on-quarter organic revenue growth for Viaplay.
- B2B partner linear channel subscription sales were up 7% on an organic basis.
- Advertising revenues saw a 5% organic growth, driven by strong performance in Swedish linear ad sales and radio advertising revenues in Norway and Sweden.
- The company is implementing initiatives to tackle account sharing, with early signs of success in the Netherlands and Denmark.
- Viaplay sales were down 1% year-on-year on an organic basis due to a decline in the core subscriber base.
- Higher content costs due to annual inflation in sports rights contracts and currency headwinds negatively impacted financial performance.
- Core EBIT was negatively affected by EUR 89 million due to FX impacts.
- Content costs, particularly for sports, have been growing almost twice as fast as subscription sales, which is unsustainable.
- The company continues to face significant challenges with piracy and requires more support from politicians and regulators to combat illegal content distribution.
Good morning, everyone, and welcome to today's Q2 2024 results conference call. My name is Matthew Hooper and I will be your host today. Joining me here on the call is our CEO, Jørgen Madsen Lindemann, and as usual, our presentation will be followed by a Q&A session.
We are adopting a new format for this call this morning with shorter presentations from us in order to provide more time for questions and discussion. You can find our results materials, including a presentation deck, on the Investor Relations section of our website. We will not further follow the slides, but they do provide the usual information for you.
Please be advised that today's conference call is being recorded. (Event Instructions) I will now hand the call over to Jørgen to walk you through the Q2 highlights, so over to you, Jørgen.
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Yeah. Thank you, Matthew, and good
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