The video streaming market is getting more lucrative by the day. Dominant players are trying to retain control as the OTT sector sees rapid growth. The video streaming market was valued at $50.11 billion in 2020, with an expected CAGR of 21 percent from 2021 to 2028.
Netflix, Amazon, Disney have emerged as top content providers, but others are rising to challenge the established leaders. One such dark horse is the Swedish media group NENT, which is challenging the dominance of Netflix and Disney in the OTT market.
What is NENT?
Nordic Entertainment Group (NENT Group) is a pan-Nordic group based out of Stockholm. The company provides OTT streaming services through Viaplay and Viafree. The company also operates advertising-funded TV and radio channels, the V pay-TV channels, and more than 30 production companies.
Viaplay, Viafree, Allente, TV3, TV6, TV8 and TV10 are some of the bigger brands under the NENT group network. Apart from the Nordic countries, some of its international markets include Estonia, Latvia, Poland and Lithuania and it plans to enter the US, Britain, Canada, Germany, Austria and Switzerland in the next two years.
How NENT is competing with Netflix and Disney?
The company’s recent earnings report highlighted its growth story. The company reported a 28 percent increase in subscribers, with 286,000 international subscribers.
The company will be launching in the US in mid-December, where it hopes to capture more of the international audience.
"In the US, where we launch in mid-December, we go with a more focused Nordic proposition, which will be priced at $4.99 per month," Chief Executive Officer Anders Jensen said in an interview.
International viewers also flock the company’s streaming services for their sports broadcast. Viaplay streams the Bundesliga, English Premier League, UEFA competitions and Formula One. Its other shows like, Wisting and Darkness: Those who kill enjoy significant viewership as well.
Viaplay has over 90 original productions and more than 140 seasons of Nordic dramas with plans to start at least 50 new productions this year and more than 60 for next year, reported Reuters.
(Edited by : Shoma Bhattacharjee)
First Published: IST