Nordic Entertainment Group (NENT) will propose a company rebrand to Viaplay Group. The company has said that the move reflects its strategic focus on the international expansion of its streaming service – Viaplay – as well as the service’s “continued Nordic growth”. If approved by shareholders, NENT Group’s radio and advertising sales businesses will be rebranded to Viaplay Group Radio and Viaplay Group Ad Sales, respectively. Additionally, the company’s share ticker on Nasdaq Stockholm will change from “NENT B” to “VPLAY B”.
Viaplay is NENT’s largest single revenue-generating unit and the only one present in all markets the company has a presence in. Currently, the streaming service is available in 11 countries, with planned rollouts in at least 16 other countries for the end of 2023. The company is aiming to achieve approximately 12 million subscribers by the end of 2025.
NENT Group adopted its current branding as part of its split from its former parent company, in June 2018. Its studio operations were reorganised as Viaplay Studios in September of last year.
Anders Jensen, NENT Group President and CEO: “Our proposed rebrand shows exactly who we are – a fast-growing international entertainment company. Becoming Viaplay Group will deliver clarity, simplicity and visibility. In turn, this will make us even more attractive for partners, investors and talents. The global streaming market has never been so exciting and competitive, and innovation in all areas, from our platform to our brand, is vital.”
The rebrand is subject to shareholder approval at the company AGM on 18 May.