MTG sees pay-TV growth

Modern Times Group (MTG) has reported revenues of SEK3.531bn (€379m) for the third quarter, up 17% year on year. Operating income was SEK368m, up 50%, while net income was up 42% to SEK360m.

MTG’s Nordic pay-TV unit posted sales of SEK1.140bn, up 9% year-on-year. The company added 11,000 new premium subscribers, driven by IPTV take-up. Growth in its Swedish satellite platform was offset by lower new sales in Denmark and Norway. Growth of multi-room, ViasatPlus DVR and HD subscriptions boosted premium DTH ARPU by 6% to SEK4,472.

Pay-TV in MTG’s emerging markets of central and eastern Europe saw revenues rise by 16% to SEK228m for the quarter, boosted by consolidation of 50% of its Raduga TV Russian platform and full consolidation of Viasat Ukraine. MTG added 1.2m subscribers in 25 emerging markets in total, with basic and mini subscriptions seeing strong growth. Premium growth in Ukraine was offset by subscribers in the Baltic states choosing lower-tier offers.