STOCKHOLM (Reuters) – Swedish media group Nenet, which is challenging broadcast giants such as Netflix and Disney+ in the Nordic countries, has seen a 28% increase in subscribers as its plan to expand outside Scandinavia draws in more viewers.

The company added 322,000 subscribers from the previous quarter in the third quarter ending September 30, including 36,000 in the Nordic countries and 286,000 overseas.

NENT subscribers to Viaplay’s streaming service grew 28% in the quarter, as NENT expanded to include more countries competing with global competitors like Netflix and Disney+.

The total number of Viaplay subscribers has grown to 3.6 million. However, adjusted operating income fell to 80 million kronor ($9.33 million) compared to 176 million kronor a year earlier, including 200 million kronor as a result of Viaplay’s international expansion.

The number of subscribers has increased thanks to the influx of sporting events such as the German Bundesliga, the English Premier League, UEFA competitions and Formula 1.

“We have reinforced our ambition at Viaplay Originals to have at least 50 productions this year and more than 60 productions next, and have introduced some important new sports rights for the years to come,” Anders Jensen, CEO of Viaplay, said in a statement.

The company’s international markets include Estonia, Latvia, Poland and Lithuania. The number of PMs in the US, UK, Canada, Germany, Austria and Switzerland is expected to rise to 16 by the end of 2023.

(1 US dollar = 8.5737 Swedish krona)

(Reporting by Subanta Mukherjee in Stockholm; Editing by Helena Soderbalm and Rashmi Aish)

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