Modern Times Group is expected to take market share in the free-to-air broadcasting business in Scandinavia and grow it subscription pay TV services in the region, according to analysts. Investment bank Morgan Stanley has noted that the broadcast group is a strong medium-term investment option and is one of the most well positioned broadcasters in Europe.
The bank expects the company to increase its free-to-air share in Sweden by 1% this year. “As the FTA commercial challenger across the Scandinavian region, MTG still has room to grow at the expense of the incumbents. MTG has taken audience and market share in Sweden and Denmark in 2011 and we expect this performance to be reflected in its share of the TV advertising market in 2012,” it noted. Morgan Stanley also noted that its pay TV services would grow. “In pay TV the investments in new TV channels and sports rights over recent years should allow MTG to grow subscribers numbers, particularly on non-DTH platforms and gradually increase operating margins to 20% in this division.”
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