Spotify surpasses Bonnier as biggest Swedish media company

The annual report Media utveckling 2017  (Media Development 2017) was released on 18 October and looks at how the Swedish media market is developing. According to the report, a majority of the growth in Swedish media was in digital channels and mainly for foreign tech companies like Google and Facebook.

The booming Swedish economy contributed to increased advertising investment. Overall, advertising increased by 6.2% with a turnover of SEK 34.9 billion being the highest amount ever. Advertising in daily press decreased by 11% and television advertising by  1%. Internet advertising increased by 22%.

Meanwhile, the Swedish music streaming service, Spotify, has replaced Bonnier on the throne and is now the biggest Swedish owned media company, according to a fresh report from the Swedish Press and Broadcasting Authority. Dagens Media writes that Spotify increased its revenue last year with 50%, amounting to around SEK 27.8 billion, while Bonnier’s profits amounted to SEK 25.6 billion, according to the report. Breakit sees this as a historic shift in power dynamics in the Swedish media world, where Bonnier has long reigned supreme.

For further reading about the Swedish newspaper landscape, click here.

 

Mundus News

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Edgar Mannheimer is a journalist at Mundus News. He is also currently working for SVT Nyheter as an online reporter. Edgar has a passion for politics, foreign affairs and music. He grew up in Egypt, the US, Stockholm, and Jordan, following his mother’s job as a foreign correspondent. Edgar has a Bachelor’s Degree in Political Science and Arabic/Middle Eastern Studies from Lund University and a Master’s degree in journalism from Stockholm University.