MTG has been able to maintain increases in sales and profits, despite currency effects on content costs for the Stockholm-based company, and the changing nature of the broadcast market.

Subscriber bases for the online service Viaplay have increased across the Nordic region, while traditional channel operation Trace has grown across its international markets.

MTG made sales of SEK 4,155 million (444.24m), up from SEK 4,109 million.

The rate of decline in linear viewing in Scandinavia where MTG runs the TV3 and Viasat brands slowed in the quarter. Advertising rates have continued to rise across all markets and digital sales grew by 30%.

Ongoing growth in the Viaplay and IPTV subscriber bases more than offset the decline in the cable and satellite base.

In the emerging markets the ongoing situation in the Ukraine led to further decline in the satellite pay-TV platform. Further amendments to the Russian Mass Media law have done nothing to ease the uncertainty for businesses in the region.