MTG Achieves Fifth Consecutive Quarter Of Increased Revenues, As Esports Grows 49%
MTG achieved its "fifth consecutive quarter of growth," according to Julian Clover of BROADBAND TV NEWS. The entertainment company is "seeing increased revenues" from new markets such as esports and the "more traditional linear broadcasting." MTG President & CEO Jørgen Madsen Lindemann said, "Nordic Entertainment generated 3% organic growth against tough comparisons, as we had exclusive coverage of the Rio Olympics and the Ice Hockey World Cup last year in Sweden, but we continued to benefit from higher advertising and subscription prices with further usage and revenue expansion for both Viaplay and Viafree." Esports grew by 49% within the MTGx business, but losses increased as the company "looks to expand its presence in the market." MTG increased net sales from 3.7B-4.3B Swedish krona ($454.6M-$528.4M), representing organic growth of 7% (BROADBAND TV NEWS, 10/19).