TV production giant announces layoffs – E24

Nep Norway understands the difficult times the media industry is going through.

– We’re in the process of downsizing. We can’t comment too much about it right now because we’re in the middle of it, managing director Morten Ace in Knype Norway tells E24.

He says that they are generally prepared for the fact that the activity in the Norwegian television market will decline.

– All of our large clients have declared that they are undergoing very interesting cost savings. That this affects us as subcontractors is completely normal. “It’s about being a little precautionary,” says Ace.

In August, TV 2 announced cost cuts of NOK 400 million and did not rule out layoffs. For its part, streaming service Viaplay lost more than NOK 6 billion in the second quarter and is laying off 25 percent of its staff.

I can’t say anything about the range

– Can you say something about the extent of the downsizing?

– No, that would be completely wrong now, says Ace.

Norwegian company Nep has 140 employees and employs more than 350 freelancers. The company provides technical services for the production of sports, entertainment, music and corporate subscriptions.

In 2022, the company generated revenue of NOK 466 million, with a profit before tax of NOK 13 million. According to the website, the company is the largest supplier of production services in the country.

hard times

When TV 2 announced the cost cuts, it highlighted, among other things, increased production and content prices, a weaker Norwegian krone and increased competition.

– You don’t have to be a rocket scientist to see that the Norwegian TV market is going through a process in which you have to readjust and adapt to new framework conditions. Viaplay should save a lot of money, TV 2 should save a lot of money, other media houses should save. “They hire us to produce, and we’re not involved in the editorial environment,” As says.