A challenging economic period has led to the departure of Viaplay group Chief Executive and President Anders Jensen.

According to reports, the economic climate has fuelled a downward spiral in subscription engagement, leading to Jensen leaving his role after five years. 

It comes off the back of the firm delivering Q2 financial results, in which it specifically highlighted ‘sharp and rapid deterioration in the TV and radio advertising markets’ as being central to the group’s poor performance. 

“In the light of current challenges, the company is best served if I step down, and I have therefore decided to do so,” Jensen said in a statement. “I wish the company and the team the very best in the future.

“It has been a privilege and an honour to be on the team making Viaplay Group into the forward-leaning and future-focused company that it is today. I remain confident of the success that lies ahead for the company. But I also feel that, in the light of current challenges, the company is best served if I step down.”

The broadcaster has moved fast to find a replacement for Jensen, hiring former MTG head, Jorgen Madsen Lindemann.

Following the challenging results, the group underlined it has set net strategic targets and goals for the upcoming period. 

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