Streaming service Viaplay is cutting at least a quarter of its jobs worldwide and pulling out of several countries. The platform will remain active in the Netherlands, where it broadcasts Formula 1, among other places. The company announced this on Thursday when presenting quarterly figures. Viaplay suffered a loss of 75.2 million Swedish krona (6.5 million euros) in the second quarter of 2023.

From now on, the Swedish company only wants to focus on Northern European countries and the Netherlands. This means that the service is no longer acceptable in the Baltic countries, the United Kingdom, the United States, Canada and Poland. It is not yet known how many of the approximately 1,500 employees will lose their jobs. Viaplay will continue with Viaplay Select, with which the company releases series and films overseas.

Viaplay, founded in 2018, is struggling with disappointing financial results. According to the service, this is partly due to companies spending less money on advertising and consumers spending less money on streaming platforms due to high inflation. Costs for sports rights and programming are also increasing. Turnover is still increasing, but not enough to cover all costs. Viaplay currently has around 7 million subscribers and expects the number to increase slightly to 7.2 million by the end of the year.

In the Netherlands, in addition to Formula 1, Viaplay also has the broadcast rights for darts and the English and German football competitions Premier League and Bundesliga. Notable presenters on the platform include former NOS presenters Amber Brantsen, Koert Westerman and Anne-Marie Fokkens.

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