The Swedish streaming service Viaplay has ousted its chief executive Anders

 

The Swedish streaming service Viaplay has ousted its chief executive Anders Jensen while warning of a loss this quarter and scrapping its forecasts.  The company, which has modeled itself as a competitor to Netflix in Europe, shocked investors with the news of downward projections. Viaplay withdrew its long-term projections for multiple facets of its business, including sales and subscriber and profit growth. Viaplay shares plunged more than 60 cents in early trading. While it has been profitable in the Nordics, it has failed to gain any kind of traction outside its home market. It has expanded into the Netherlands, Poland, the U.K., the U.S., and the Baltics. One of the main differences between Viaplay and Netflix and Max is that it has purchased rights to sports in order to spark international growth.