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Revenue, profit up Sweden’s TV4

Swedish free and pay TV broadcaster TV4 Group has posted respectable sales and profit growth for its full 2015 financial year, with sales rising from SEK4.206 billion (US$499 million) to SEK4.234 billion, and EBITA rising from SEK640 million to SEK662 million.

TV4 Group said that the results reflected increased investment in Swedish content and technology platforms, which had boosted consumption on all platforms, including digital services.

In digital, TV4 Play outperformed the market, according to the group, with the number of streams initiated by viewers rising by 95% and time spent on the platform rising by79%.

TV4 Play’s weekly reach in the fourth quarter rose to 20.9%, placing it second to YouTube in Sweden among advertising-funded online players.

CEO Casten Almqvist said that the results reflected said that results were “clear proof” that the company’s strategy of investing in Swedish content on all platforms was working.

He said that these investments would “remain central” to the company’s strategy, along with closer coordination with the wider Bonnier broadcasting organisation to which TV4 belongs.