The broadcasting industry in the Nordics is dynamic and rapidly evolving, characterized by a mix of traditional broadcasters and digital media companies. Major players include public service broadcasters, cable and satellite operators, and streaming platforms, with offerings that range from live television to on-demand video and audio content. In recent years, the industry has witnessed a significant shift towards digital consumption, driven by consumer demand for flexible viewing options. Innovations like 5G technology and advancements in streaming services are setting the stage for future growth, as companies seek to enhance user experiences and expand their reach in an increasingly competitive market.

This list features a variety of Nordic investors in the broadcasting sector, ranging from corporate giants like Telenor to smaller venture capital firms like Heartcore Capital. With headquarters predominantly in cities like Stockholm and Oslo, these investors vary in size, some employing thousands while others are more boutique operations. All were founded in recent decades, highlighting a modern growth phase in investment. In 2024, the group collectively made over 70 investments, signaling active interest and strategic involvement in the broadcasting landscape.

Top 17 Broadcasting Investors in the Nordics

1. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions in the broadcasting context, EQT acquired Com Hem, a leading cable TV operator in Sweden, which highlights their involvement in the broadcasting industry. Additionally, their acquisition of Kabel Baden-Württemberg and investments in telecom infrastructure companies like Caiway and Delta Fiber further illustrate their commitment to enhancing media distribution and broadcasting capabilities. Their recent strategic investment in United Talent Agency (UTA) also reflects their interest in the media and entertainment sector, positioning them as a key player in the broadcasting landscape.

2. Almi

• Website: almi.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Among its notable transactions, Almi has invested in companies like Codemill, which raised $3,105,770 in debt financing in 2020 and operates in the media technology space, potentially impacting broadcasting. Additionally, Almi has supported other ventures such as Clipsource and Spiideo, which may also have relevance to the broadcasting industry. These investments reflect Almi's broader strategy of supporting innovative companies that could influence the media landscape.

3. Spotify

• Website: spotify.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2006
• Headcount: 5001-10000
• Number of deals in 2024: 1
• LinkedIn: spotify

Spotify is a music and podcast streaming service founded in 2006, headquartered in Stockholm, Sweden. It offers users access to a vast library of audio content, including music and podcasts, and allows for streaming on various devices with both free and premium subscription options. As an investor, Spotify has made significant moves in the broadcasting industry, particularly through its acquisitions of podcasting companies. Notable transactions include the acquisition of Gimlet Media and Anchor FM for over $200 million, which marked a pivotal expansion into the podcasting market. Additionally, Spotify acquired The Ringer, a sports and pop culture website, and Megaphone, a podcast hosting and advertising company, further solidifying its presence in the broadcasting landscape. These strategic investments highlight Spotify's focus on enhancing its audio content and advertising capabilities, making it a key player in the broadcasting sector.

4. Telia

• Website: teliacompany.com
• Type: Corporate
• Headquarters: Solna, Stockholm, Sweden
• Founded year: 1853
• Headcount: 10001+
• LinkedIn: teliacompany

Telia Company AB is a telecommunications company based in Solna, Stockholm, Sweden, founded in 1853. It operates in the Nordic and Baltic regions, offering a wide range of services including IoT connectivity, smart city solutions, and telephony services. Telia serves both businesses and public sector organizations, focusing on enhancing connectivity and operational efficiency. Notably, Telia has made strategic investments in the broadcasting sector, such as its participation in a funding round for Solidsport, a Stockholm-based sports streaming events operator, where it contributed to a SEK 23 million funding round. This investment highlights Telia's engagement in the broadcasting space, particularly in sports streaming. Additionally, Telia's acquisition of Tele2 and NextGenTel indicates its broader strategy to expand its service offerings, which may include media and broadcasting services as part of its telecommunications portfolio.

5. Mtg

• Website: mtg.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1987
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: mtg

Modern Times Group (MTG) is a corporate investor based in Stockholm, Sweden, founded in 1987. Initially focused on gaming and entertainment, MTG has expanded its portfolio to include significant investments in the broadcasting sector. Noteworthy transactions include the acquisition of TRACE TV in 2014 for approximately $54.7 million, which highlights their interest in media broadcasting. Additionally, MTG acquired a 51% stake in Zoomin.TV, Europe's largest multichannel network, for $95 million in 2015, further solidifying their presence in the broadcasting landscape. These strategic moves reflect MTG's commitment to enhancing its media and broadcasting capabilities while continuing to leverage its expertise in user engagement and innovation.

6. Telenor

• Website: telenor.com
• Type: Corporate
• Headquarters: Fornebu, Akershus, Norway
• Founded year: 1855
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: telenor-group

Telenor ASA is a leading telecommunications company based in Fornebu, Akershus, Norway, with a rich history dating back to 1855. With a customer base of 209 million subscribers, Telenor provides mobile telecommunications, broadband, and TV distribution services primarily in Scandinavia and Asia. The company is dedicated to empowering societies through connectivity and is committed to responsible business practices and innovation in telecommunications. Notably, Telenor has made several strategic acquisitions that enhance its broadcasting capabilities, including the acquisition of Tele2 Sweden's fibre and cable firm, which aims to strengthen its position in the fixed broadband and television services market. Additionally, Telenor's acquisition of Bredbandsbolaget, Sweden's second-largest broadband provider, further solidifies its role in the broadcasting sector. These investments reflect Telenor's strategy to expand its service offerings in the competitive telecommunications landscape.

7. Sanoma

• Website: sanoma.com
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1889
• Headcount: 5001-10000
• LinkedIn: sanoma

Sanoma is a media and educational publishing company based in Helsinki, Finland, founded in 1889. The company provides a range of learning solutions and media content, including printed and digital learning materials, teaching platforms, and publishing news and entertainment content. Sanoma's customers include educational institutions and media consumers across multiple European countries. Notably, Sanoma has made significant investments in the broadcasting sector, including the acquisition of Radio Helsinki Oy in 2005, which marked their entry into local radio broadcasting. This acquisition aligns with their strategy to diversify and expand their media presence in Finland. Additionally, Sanoma has pursued digital media opportunities, such as the acquisition of a majority stake in Net Info.BG AD, Bulgaria's leading internet company, further showcasing their commitment to enhancing their media portfolio.

8. Ericsson

• Website: ericsson.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1876
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: ericsson

Ericsson is a telecommunications company based in Stockholm, Sweden, founded in 1876. With over 10,000 employees, it specializes in advanced connectivity solutions, including 5G networks and IoT platforms. In recent years, Ericsson has made significant strides in the broadcasting industry through strategic acquisitions. Notably, in 2016, they announced the acquisition of FYI Television, a media content company, to bolster their capabilities in broadcast and media services. In 2014, they acquired Azuki Systems, enhancing their TV and media portfolio with a focus on TV Anywhere delivery platforms. These transactions reflect Ericsson's commitment to integrating broadcasting capabilities into their broader telecommunications offerings, positioning them as a key player in the media landscape.

9. Schibsted

• Website: schibsted.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1839
• Headcount: 5001-10000
• Number of deals in 2024: 3
• LinkedIn: schibsted-asa

Schibsted Media Group is a corporate investor based in Oslo, Norway, with a rich history dating back to 1839. Originally a publishing company, Schibsted has transitioned into a media powerhouse focusing on digital marketplaces and online platforms. Notably, Schibsted has made strategic investments in the broadcasting sector, including the acquisition of Metronome, which enhances its position in TV and film production across Scandinavia. Furthermore, Schibsted acquired a majority stake in Podme, a podcast platform, reflecting its interest in the evolving audio broadcasting landscape. These transactions highlight Schibsted's commitment to diversifying its media portfolio and engaging with various forms of broadcasting.

10. Creandum

• Website: creandum.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. The firm specializes in supporting early-stage entrepreneurs in building global, category-defining companies. They provide venture capital investment, strategic support, and networking opportunities to startups across various sectors, including fintech and health tech. Notably, Creandum has made significant investments in the broadcasting context, including a Series A investment in Spotify, which raised $21.64 million in 2008, and a subsequent investment in 2014 during a secondary market round. Additionally, they invested in Epidemic Sound, which raised $20 million in 2019, further emphasizing their engagement in the media and broadcasting space. Creandum's business model focuses on nurturing companies from seed to IPO, leveraging their expertise and connections to help entrepreneurs succeed.

11. Wellstreet

• Website: wellstreet.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn: wellstreet

Wellstreet is a venture capital firm based in Stockholm, Sweden, founded in 2016. The firm specializes in early-stage investments in Nordic tech companies, providing entrepreneurs with capital and strategic support to foster growth and innovation. Wellstreet focuses on sectors such as FinTech, E-commerce, and GreenTech. Notably, they have invested in Pixotope, which raised $20 million in a Series C round in 2016, a company that operates in the broadcasting space by providing virtual production solutions. Additionally, Wellstreet has backed DanAds, a Stockholm-based advertising company, which has completed multiple funding rounds, including a $5 million capital funding round in 2021. These investments highlight Wellstreet's engagement with companies that have direct relevance to the broadcasting industry.

12. Heartcore Capital

• Website: heartcore.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies, providing both capital and guidance to entrepreneurs throughout their business journey. Heartcore operates globally and emphasizes building long-term relationships with founders to help them achieve their goals. Notably, Heartcore has been involved in several transactions within the broadcasting context, particularly with Podimo, a Copenhagen-based platform for podcasts and audiobooks. They participated in multiple funding rounds for Podimo, including a Seed Round in 2019, Series A in 2020, and Series B rounds in 2021 and 2022, showcasing their commitment to supporting innovative audio content platforms. Additionally, they invested in Mofibo, another platform that aligns with the digital content distribution space, further highlighting their interest in broadcasting-related ventures.

13. Nordic Capital

• Website: nordiccapital.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1989
• Headcount: 201-500
• Number of deals in 2024: 10
• LinkedIn: nordic-capital

Nordic Capital is a private equity firm founded in 1989, based in Stockholm, Sweden. The firm specializes in investments across various sectors, including healthcare and technology, and focuses on creating long-term value and sustainability in its portfolio companies. Notably, Nordic Capital has been involved in significant transactions within the broadcasting context, particularly with Vizrt, a digital media firm. They acquired Vizrt in a private equity buyout valued at $374 million in 2014 and have participated in multiple funding rounds for Vizrt Group in subsequent years. This involvement highlights Nordic Capital's engagement in the broadcasting industry, alongside their broader investment strategy.

14. Seb

• Website: sebgroup.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1856
• Headcount: 10001+
• Number of deals in 2024: 13
• LinkedIn: seb

Skandinaviska Enskilda Banken AB (SEB) is a leading banking group in Northern Europe, providing a wide range of financial services including corporate and investment banking, asset management, and private wealth management. Founded in 1856 and based in Stockholm, Sweden, SEB serves large corporations, institutional clients, and private individuals, helping them manage their financial assets and navigate investment opportunities. Notably, SEB has been active in the broadcasting industry, particularly through its investments in Accedo, a Stockholm-based video experience pioneer, where SEB Private Equity has led multiple funding rounds and an acquisition. In 2016, SEB acquired Accedo and subsequently participated in further funding rounds, including a $17 million equity funding round in 2019. Additionally, SEB invested $20 million in Epidemic Sound, a company that specializes in music licensing for content creators, further showcasing its involvement in the broadcasting and media sectors.

15. Vizrt

• Website: vizrt.com
• Type: Corporate
• Headquarters: Bergen, Vestland, Norway
• Founded year: 1997
• Headcount: 501-1000
• LinkedIn: vizrt

Vizrt is a corporate investor based in Bergen, Vestland, Norway, founded in 1997. The company specializes in media technology, offering advanced software solutions for content production, management, and distribution in the digital media industry. Their products are designed to enhance storytelling capabilities for broadcasters, sports organizations, and educational institutions. Notably, Vizrt has made significant acquisitions in the broadcasting context, including Mosart Medialab in 2014 for NOK106.2 million, which aimed to improve studio production automation, and Flowics in 2022, a cloud-native HTML5 broadcast graphics platform that enhances their graphics portfolio. These transactions underscore Vizrt's commitment to advancing technology in the broadcasting sector.

16. Ferd AS

• Website: ferd.no
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1998
• Headcount: 51-200
• LinkedIn: ferd-as

Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through a diverse range of business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has made significant investments in various sectors, including technology and media. Notably, they participated in a €15 million funding round for The Cloud, Europe’s largest independent wireless broadband provider, which is crucial for enhancing broadcasting capabilities. Additionally, they invested $20 million in Pixotope, a company that specializes in virtual production and augmented reality, directly linking them to the broadcasting industry. Ferd AS partners with businesses to enhance their growth and impact, demonstrating a commitment to fostering innovation in sectors that include broadcasting.

17. Storytel

• Website: storytel.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2005
• Headcount: 501-1000
• LinkedIn: storytel

Storytel AB is a corporate investor based in Stockholm, Sweden, founded in 2005. The company operates a subscription service that provides a wide range of audiobooks, e-books, and podcasts, catering to consumers seeking convenient access to digital reading and listening materials. Storytel has made several strategic acquisitions to enhance its position in the audio content market, including the acquisition of Kitab Sawti in July 2020, which focuses on audiobooks for the Arabic audience, and Mofibo in May 2016, a digital reading service. In November 2021, Storytel also acquired Audiobooks, further solidifying its commitment to expanding its audiobook offerings. With operations in over 25 countries, Storytel is well-positioned to leverage its investments in the broadcasting sector, particularly in audio content distribution.

Broadcasting Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
Spotify	Stockholm, Stockholm, Sweden	5001-10000	2006	1
Telia	Solna, Stockholm, Sweden	10001+	1853	0
Mtg	Stockholm, Stockholm, Sweden	11-50	1987	1
Telenor	Fornebu, Akershus, Norway	10001+	1855	2
Sanoma	Helsinki, Uusimaa, Finland	5001-10000	1889	0
Ericsson	Stockholm, Stockholm, Sweden	10001+	1876	3
Schibsted	Oslo, Oslo, Norway	5001-10000	1839	3
Creandum	Stockholm, Stockholm, Sweden	11-50	2003	17
Wellstreet	Stockholm, Stockholm, Sweden	1-10	2016	3
Heartcore Capital	Copenhagen, Denmark	11-50	2007	17
Nordic Capital	Stockholm, Stockholm, Sweden	201-500	1989	10
Seb	Stockholm, Stockholm, Sweden	10001+	1856	13
Vizrt	Bergen, Vestland, Norway	501-1000	1997	0
Ferd AS	Oslo, Oslo, Norway	51-200	1998	0
Storytel	Stockholm, Stockholm, Sweden	501-1000	2005	0

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