The Scandinavian Streaming Service Taking on Netflix

Streaming Gains Popularity in Europe

The number of video streaming service subscribers in western Europe surpassed the number of pay-TV customers for the first time ever. 86% of these customers subscribe to US-based services like Netflix (NFLX), Amazon Prime (AMZN), and Disney+ (DIS).

In the past, Hollywood has sold its movies and shows to European broadcasters, but US streaming services are cutting out this step and reaching European consumers more directly. American streaming services are investing heavily in content specifically for Europe, as well as content that appeals to a wide array of viewers worldwide. Netflix’s global content budget was about $17 billion in 2020—nearly eight times the BBC’s TV budget.

The Little Platform That Could

Despite US streaming giants’ success in most of Europe, one Sweden-based platform called Nent, is holding its own. Nent provides premium sports as well as original shows and movies. Its customer base is concentrated in Sweden, Denmark, Finland, and Norway.

Nent is the second most popular streaming platform in Scandinavia by subscriber numbers. It has about 3 million subscribers in the region while Netflix has 4.2 million. But Nent generates more revenue than Netflix or any other foreign streaming service in Scandinavia because of its higher-priced sports packages.

Nent’s Plans for Expansion

Nent’s success at home has been impressive. Now it is making plans to expand around the globe. The company is in the process of raising equity to launch in the Baltics and Poland.

Nent plans to make its debut in the US in 2022. American streaming services, which so far have dominated international competitors, will be anxious to see how Nent performs on a global stage.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.

TLS 1.2 Encrypted
Equal Housing Lender