After five years in the role, Anders Jensen has stepped down as CEO of the Scandinavian media group.
The decision follows the company announcing $23 million in operating losses during the second quarter of 2023.
He will be succeeded by Jorgen Madsen Lindemann, ex CEO of Viaplay’s former parent company MTG, with immediate effect.
Viaplay attributed the losses to a “sharp and rapid deterioration in the TV and radio advertising markets,” due to a slump in demand for both streaming and pay-TV in the Nordic and international streaming D2C markets, as well as “lower wholesale subscription sales by linear distribution partners.”
Pernille Erenbjerg, chair of Viaplay’s board said: “The outlook for the markets in which we are operating has shifted considerably and at a very rapid pace, and the execution of cost savings programmes has not been mitigating the effects from these conditions to a sufficient extent. The impact of the macroeconomic headwinds on the business require that we execute differently on our strategy.”
Speaking about his departure, Jensen said: “It has been a privilege and an honour to be on the team making Viaplay Group into the forward-leaning and future-focused company that it is today. I remain confident of the success that lies ahead for the company. But I also feel that, in the light of current challenges, the company is best served if I step down, and I have therefore decided to do so. I wish the company and the team the very best in the future.”