In a press release, the company also confirmed that Jørgen Madsen Lindemann will take over immediately.
This led to a complete collapse of the stock exchange in the morning hours. At 11 a.m., the stock was down 62 percent.
Also read: Big deficit in Viaplay
responds to price jumps
The rising cost of living is also driving down subscribers, both among those who stream live and linearly. Many customers also react to company price increases by terminating the customer relationship.
As you know, Viaplay had a huge investment in the English Premier League, acquiring the rights in Norway.
“Viaplay Total,” with unlimited access to matches from the English Premier League, for example, made it by NOK 100 in the new year, going from NOK 649 to NOK 749.
Also read: Premier League price increase
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Viaplay is lowering its short-term outlook for 2023 as a result of market conditions. At the same time, the organization is withdrawing its long-term projections, according to the press release.
It also affects Monday’s big drop in the stock market for such a large company.
Advertising revenue is expected to decline between 12 percent and 16 percent on an organic basis in the second quarter.
This is due to the sharp and rapid deterioration in the television and radio advertising markets.
No one from ViaPlay’s management wanted to comment on the downturn, according to DI.no.
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