Modern Times Group (MTG) has unveiled a new financial reporting structure as part of its ongoing transformation from a broadcaster into a ‘digital entertainment company’.
The Nordic pay and free TV operator will now operate through four reporting segments: Nordic Entertainment; International Entertainment; Studios; and MTGx Ventures.
MTG reorganised the management of its MTGx unit late last year, unifying its Play and Viaplay services under Viaplay CEO Jonas Karlén (left) and naming Arnd Benninghoff as MTG executive vice-president and CEO of MTGx Ventures, reporting to Mathias Hermansson, the unit’s new executive chairman.
Those management changes also saw the departure of Rikard Steiber, MTG’s executive vice-president and chief digital officer.
“The transformation of the Group is all about driving and shaping the fast moving changes in consumer behaviour and the video entertainment industry. This disclosure structure reflects the way in which our business is now organised and managed, as well as the way in which we expect the business to develop,” said Jørgen Madsen Lindemann, MTG’s president and CEO (right).
“We have common revenue streams and cost bases in each of these segments, and the new structure allows us to better share investments such as content and technology across multiple platforms.”