Profits dip at Sweden’s TV4

Swedish broadcaster TV4 Group saw a dip in profit in 2014 on flat revenues, but reported strong performance for digital platform TV4 Play.

The group posted revenues of SEK4.206 billion (US$508.9 million), up very slightly from 2013’s SEK4.204 billion, after having seen strong revenue growth in the prior year. Operating profit fell from SEK783 million in 2013 to SEK640 million last year.

The group attributed the decline to its investment in digital platforms, including TV4 Play, which saw strong growth in usage in the course of the year.

According to TV4, TV4 Play delivered 262 million streams last year, double the 131 million delivered the previous year, including YouTube streams.

It said its TV4 Play Premium service also saw 40% growth in subscribers and 64% growth income. TV4 said its service accounted for 52% of streams delivered by commercial TV services in Sweden – in other words, excluding public broadcaster SVT’s service – compared with 31% for Modern Times Group’s Viaplay and 17% for SBS Discovery.

TV4’s results no longer include pay TV unit C More, whose results have been consolidated within those of parent group Bonnier.