STOCKHOLM, May 20 (Reuters) - Nordic Entertainment Group (NENT) will launch its subscriber-based streaming service Viaplay in the Baltic states in the first quarter of 2021, it said on Wednesday.
The Swedish firm in April scrapped its outlook for profitable growth this year despite strong subscriber growth at its streaming business in the first quarter.
It said in a statement less than 20% of 2.8 million households in Estonia, Latvia and Lithuania have a subscriber-based online video service, against more than 50% in the Nordics.
NENT expects Viaplay, which has over 2.5 million paying subscribers in Sweden, Norway, Denmark, Finland and Iceland, to add 400,000 subscribers this year. The company, which also offers free and pay TV as well as radio, was spun off from E-sports and gaming group MTG in 2018.
Reporting by Helena Soderpalm, editing by Anna Ringstrom