Gaming boosts MTGx as Modern Times Group preps for split

A strong contribution from gaming outfit InnoGames helped boost Modern Times Group’s MTGx unit’s revenues in the second quarter. MTGx, which will form the basis of the ‘new MTG’ following the split of the company later this year, saw sales rise 63% on a reported basis and 25% on an organic basis. The unit deliver […]

MTG: business split will enable more growth and higher profits

MTG’s decision to split the business in two will create greater focus and flexibility and enable more growth, higher profits and increased shareholder value, according to CEO Jørgen Madsen Lindemann. In a statement issued with MTG’s annual report, Lindemann said that transformation has always been part of the company’s DNA and the formation of its digital arm MTGx […]

MTG reports continuing operations growth, despite eSports losses

MTG reported 83% profit growth for continuing operations in Q3, despite wider losses for its eSports operations. The Nordic company reported higher profits and margins for Nordic Entertainment, International Entertainment and MTG Studios. Meanwhile, its digital arm MTGx recorded lower losses on a sequential and year on year basis, thanks to the contribution from Innogames […]

MTG targets US digital growth with MTGx hire

Modern Times Group has appointed Digital Artists Entertainment boss, Scott Rupp, to develop the presence of its MTGx digital arm in the US. Rupp will be tasked with developing US opportunities for MTGx’s portfolio, expanding the company’s international network and sourcing new digital investments. Rupp has 20 years experience in digital media and entertainment and […]

MTG veteran Hermansson leaving

The executive chairman of MTG’s digital MTGx division, Mathias Hermansson, is leaving the company. Hermansson has been at MTG since 1999 and is one of the company’s longest serving senior execs, and was tipped as a successor to CEO Jørgen Madsen Lindemann. He will exit in early 2017. He told TBI he wasn’t yet sure […]

MTG takes 22% of Engage Sports Media

Modern Times Group (MTG) has bought a 22% stake in cross-platform sports content company Engage Sports Media. MTG said the investment, which was agreed for undisclosed terms, gives it the option to increase its shareholding in the future. Commenting on the deal, Arnd Benninghoff, CEO of MTG’s digital accelerator arm MTGx, said that there is […]

MTGx chief: broadcasters must look to e-sports as ‘defining pillar’ of pop culture

Broadcasters must look to adapt to the specific tastes of millennials in order to survive, and in particular to the emerging phenomenon of e-sports, described by MTGx’s Arnd Benninghoff as “the defining pillar of  pop culture”. Speaking at TV Connect in London this morning, Benninghoff, CEO of Modern Times Group’s new media arm MTGx Ventures, said that younger people are leaving […]

MTGx appoints chief product officer

MTGx, the digital accelerator arm of Modern Times Group, has appointed former Fox Mobile Group executive Markus Thorstvedt as chief product officer. Thorstvedt will have overall responsibility for all product developments at MTGx, which was set up in 2013 in a bid to transform MTG from a “traditional media house to a digital powerhouse.” He previously […]

MTG teams up with FreeWheel

Modern Times Group (MTG) has teamed up with technology provider FreeWheel to make additional revenues from digital ad inventory across the Nordic markets and central and eastern Europe.  MTGx, MTG’s digital accelerator unit, will use FreeWheel’s monetisation rights management (MRM) technology to power its digital television ads in Sweden, Norway, Denmark, Latvia, Lithuania, Estonia and […]

MTG appoints ProSiebenSat.1 Media’s digital chief

Modern Times Group (MTG) has appointed ProSiebenSat.1 Media’s chief digital officer, Arnd Benninghoff, as deputy CEO of its digital accelerator arm MTGx and CEO of MTGx Ventures. MTG launched MTGx as its new ‘digital hub’ in June 2013, headed up by chief digital officer and MTGx CEO Rikard Steiber. The division is built around three […]