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Netflix launches film streaming in Sweden

Netflix launched its film streaming service in Sweden on Monday, offering a special deal to current Spotify subscribers in an otherwise low-key entry into the Nordic region for the US company.

Netflix launches film streaming in Sweden

“Today we’re bringing Netflix to Sweden,” Netflix director of content Erik Barmack said in a statement published Monday on the company’s blog.

“Starting today, people throughout Sweden who love watching movies and TV shows can join almost 30 million of our members from over fifty countries around the world, who enjoy our service over the Internet streaming to Smart TVs, game consoles, computers, tablets, mobile devices and more.”

The much anticipated move, first announced in late August, marks the first entry into the Swedish market of a major American internet film streaming service.

Later this autumn, HBO is expected to launch a similar on-demand film streaming service.

The two US firms will face-off against Swedish publishing company Bonnier’s C More (previously Canal Plus), which recently launched on-demand service Filmnet.se, as well as Viasat’s Viaplay streaming service and Voddler.

Netflix’s launch in Sweden allows new subscribers to sign up for one month of free service, after which it will cost 79 kronor ($11.75) per month for access to the company’s extensive catalogue of films and television shows.

As a part of the launch, current premium subscribers to Swedish streaming music service Spotify have been offered a free Netflix subscription for the rest of the 2012 calendar year, after which they will be charged 79 kronor.

“We are proud to have to be able to introduce the future of TV in Sweden. Now people in Sweden can watch fantastic movies and TV series anywhere, anytime, on a range of different devices,” Netflix CEO and co-founder Reed Hastings said in a statement.

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BUSINESS

Spotify reports strong growth in users as it announces price rise

Spotify on Tuesday reported a bigger-than-expected rise in active users at the end of the second quarter, a day after the music streaming giant announced price increases for its premium service.

Spotify reports strong growth in users as it announces price rise

The Swedish company, which is listed on the New York stock exchange, said it’s total active users rose 27 percent to 551 million year-on-year, or 21 million more than it expected. The number of paying subscribers also rose, with a 17 percent jump to 220 million — three million more than expected.

On Monday, the company announced it was raising its prices for premium subscribers “across a number of markets around the world,” following in the footsteps of similar moves by competing music services from Apple and Amazon.

Despite the boost in users, Spotify reported a bigger operating loss of 247 million euros ($273 million) in the second quarter, compared to a loss of 194 million euros for the same period a year earlier.

The company said it was “primarily impacted by charges related to our actions to streamline operations and reduce costs.”

In early June, Spotify announced it would be cutting some 200 positions working with podcasts.

That move came after a January announcement that Spotify was cutting around 600 jobs — equalling about six percent of its workforce — following similar moves by other tech industry giants.

Spotify has invested heavily since its launch to fuel growth with expansions into new markets and, in later years, exclusive content such as
podcasts. It has invested over a billion dollars into podcasts alone.

In 2017, the company had around 3,000 staff members, more than tripling the figure to around 9,800 at the end on 2022.

The company has never posted a full-year net profit and only occasionally quarterly profits despite its success in the online music market.

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