Viaplay Group, the Swedish-based operator of a branded subscription streaming VOD service in 13 countries, including the United States and Canada, June 28 announced a new Nordic country-based operating model and changes to its executive management team.
This follows the June 5 announcement of changes to Viaplay’s short-term outlook for 2023, and the appointment of Jørgen Madsen Lindemann as the new CEO. The new operating model aims to improve operating efficiency and performance, sharpen the focus on the development of market-relevant product offerings, and accelerate the ongoing review of the company’s operations and return on investment.
The updated operating model will be based around country management teams with full responsibility for the daily operation and strategic development of the businesses, including full line of sight and accountability for sales, costs, profitability, cashflows, content, marketing and operations.
Lindemann will be interim CEO of the Swedish and Finnish operations while the search is made for a permanent appointment. Lars Bo Jeppesen has been appointed EVP and CEO of the Danish and Icelandic operations, effective Aug. 1. Kenneth Andresen has been appointed interim CEO of the Norwegian operation. Peter Nørrelund, who recently rejoined Viaplay as EVP and chief sports and business development officer, will also take on responsibility for operations in the Netherlands, Poland, Baltics, and the United Kingdom.
The other members of the executive leadership team reporting to Lindemann include: Enrique Patrickson (EVP, CFO and head of strategy and M&A); Philip Wågnert (EVP and chief technology and product officer); My Perrone (EVP and general counsel); Matthew Hooper (returning to his role as EVP and chief corporate affairs officer); Vanda Rapti (EVP, content distribution); and Christian Albeck (EVP, content acquisition).
“This is the first of what will be a number of step changes to ensure that we are investing in the areas where we see the greatest potential, that we are laser focused on the daily business of creating locally relevant products and experiences, and that we are as close as possible to our customers,” Lindemann said in a statement.
It remains to be seen how the changes will impact Viaplay’s recent launch of a $5.99 monthly branded SVOD service in the United States and Canada featuring original Nordic content.
Viaplay reported a net loss of $26.6 million on revenue of $419.5 million in the first quarter ended March 31, which compared to income of $44.6 million on revenue of $307.4 million in the prior-year period.