09/05/2007

The Scandinavian media group Schibsted, owner of giant Nordic film and TV companies Sandrew Metronome (SM) and Metronome Film & TV, recorded its best ever results in 2006.

According to its 2006 annual report, the turnover for the Oslo-based company was up 18.4% in 2006 to NOK 11.6bn, and its profits (EBITDA) also increased by 9% to 1.5bn, thanks notably to non-recurring gains connected with the sale of minority stakes in commercial broadcasters TV2 in Norway and TV4 in Sweden.

Metronome Film & Television (owned at 65% by Schibsted and 35% by Dutch group Endemol, with production branches in Sweden, Denmark, Norway and Finland) increased its revenues by 13.5% in 2006 to SEK 1.07bn. Among the major feature films produced this year by its Norwegian subsidiary Rubicon is Nils Gaup’s €6.6m epic drama The Kautokeino Rebellion.

Schibsted’s fully controlled integrated group Sandrew Metronome had a “transitional year”, according to the group’s annual report. The company, which releases Warner Brothers films theatrically throughout Scandinavia and Finland, had to reorganise and adapt to a new cooperation arrangement with the US major. In the second quarter of 2006, SM also sold its Finnish and Danish cinemas as part of its strategy to focus on rights management and contents. SM’s operating revenues fell by 41% to SEK 476m and its total workforce was reduced from 223 to 156 employees.

SM’s biggest theatrical successes in the Nordic region in 2006 were Superman Returns, The Departed and Brokeback Mountain, as well as the European films Volver [+see also:
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trailer
interview: Agustín Almodóvar
interview: Carmen Maura
interview: Pedro Almodóvar
interview: Pénélope Cruz
film profile] and The Queen [+see also:
film review
trailer
interview: Andy Harries
interview: Stephen Frears
film profile].

Overall, the Nordic market for theatrical distribution increased by 9% in 2006 according to Schibted’s report, but “no significant changes are expected in this market for the near future”. The video market for its part increased by 5%. Schibsted sees itself as an “attractive partner” for producers and rights holders because of its strong position on the internet and SM’s expertise in rights management.