The TV 2 series "Oxen" starring Birgitte Hjort Sørensen, Jacob Lohmann, and Ellen Hillingsø was one of the most watched series last year, where the streaming service TV 2 Play was one of the services that delivered the most streaming content to screens in Danish homes. The growth in TV 2's subscription revenue is primarily driven by TV 2 Play, the annual report shows. Photo: Ida Marie Odgaard/Ritzau Scanpix
TV 2 loses nearly 10 percent in ad revenue in 2023
In 2023, TV 2 experienced a 9.5% drop in ad revenue, which represents 41% of their total income. Subscription services, however, rose by 6.5%, mainly due to an increase in TV 2 Play subscribers. Overall turnover declined by 1.5%, the first decrease in over a decade, to DKK 3.798 billion, but net profit after tax improved to DKK 229 million, a recovery from a DKK 169 million loss the previous year. The media market is changing, with streaming growth rates slowing and user habits diversifying. In response to structural industry challenges, TV 2 laid off around 60 employees. For 2024, TV 2 anticipates benefiting from major sports events and aims for a 7% revenue growth and a sustained increase in subscription sales through TV 2 Play.