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    STORY B   SE0007439443


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Storytel : has surpassed the milestone 1 million paying subscribers in the Nordics

07/21/2021 | 03:16am EDT

Storytel has passed a new milestone on its strong global growth trajectory. On 20 July 2021, the audiobook and e-book streaming service surpassed the mark 1,000,000 paying subscribers in the Nordics.

On 7 July, Storytel presented its subscriber and revenue development for the second quarter of 2021. With an average of 1,626,900 paying customers for the quarter, including an annual Nordic customer base increase of 150,300, the forecast for subscriber growth in the Nordic segment was exceeded.

Today, Storytel is happy to announce yet another milestone on its journey of expansion and growth as the company, on 20 July, surpassed 1,000,000 paying subscribers in the Nordics.    

"Storytel was born in Sweden over 15 years ago and is today synonymous with bookmarket growth in the Nordics. We are happy and deeply grateful for all the engagement and amazing response we get daily from our users. It certainly spurs us in our commitment to investing, developing and creating customized access to the best and most compelling stories and storytelling experiences together with authors, publishers, narrators, readers and listeners", says Åse Ericson, Head of Nordics at Storytel.

Storytel was founded in 2005 and became a digital pioneer in the fast-growing global audiobook market. Today, the company is the Nordic market leader and one of the world's largest streaming services for audiobooks and e-books, with a total of more than 500,000 titles in the service. To date, Storytel is launched in 25 markets and intends to encompass 40+ markets by the end of 2023. 

Storytel at a glance -- from 2005 to date

2005 Jonas Tellander, today the CEO of Storytel, and Jon Hauksson establish the Bokilur audiobook service, which subsequently becomes Storytel.

2009 The global financial crisis shakes the world. Storytel's CEO Jonas Tellander takes part in the Swedish version of the TV programme "Dragon's Den" and secures financing for the company's continued offensive venture.

2011 The first Storytel-produced audiobook is launched on the market.

2016 Storytel acquires Norstedts Förlagsgrupp, the second largest publishing group in Sweden. Storytel also acquires its Danish audiobook competitor Mofibo. 

2017 Storytel acquires People's Press, the fourth largest publisher in Denmark.

2018 Storytel launches the Storytel Reader tablet. High focus on international expansion with launches on six new markets. Storytel is listed on Nasdaq First North.

2019 In August, Storytel passes a new milestone: one million global paying subscribers. In September, Finland's third largest publisher, Gummerus Kustannus, is acquired. Storytel's expansion continues and reaches Brazil, Germany and South Korea.

2020 Storytel acquires its competitor in the Middle East, Kitab Sawti, and creates the world's largest audiobook offering in Arabic. Storytel also increases its presence in the Asia Pacific region and in Western Europe through launches in Thailand and Belgium. Storytel acquires the Israeli audiobook service iCast, as well as an 80 percent majority stake in the Nordic audiobook production company EarSelect.

2021 to date: In January Storytel surpasses the milestone of 1.5 million paying subscribers. Storytel acquires the Finnish publisher Aula & Co and a 70 percent majority stake in the Swedish publishing house Lind & Co. The Storytel app goes live in Israel, Egypt and Saudi Arabia. Storytel's management team today consists of 60 percent women and 40 percent men. 

FNCA Sweden AB is the company's certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.

For more information, please contact:
Dan Panas, Head Global Communications & PR, Storytel
Tel: +46 70 186 52 90
Email: dan.panas@storytel.com  

About Storytel
Storytel is one of the world's largest subscribed audiobook and e-book streaming services and offers listening and reading of more than 500 000 titles on a global scale. Our vision is to make the world a more empathetic and creative place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel's streaming business is conducted under the brands Storytel and Mofibo. Storytel's publishing business area is carried out through the audiobook publisher StorySide and acclaimed Nordic publishing houses such as Norstedts, People's Press and Gummerus. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.


(c) 2021 Cision. All rights reserved., source Press Releases - English

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Sales 2021 3 183 M 368 M 368 M
Net income 2021 -355 M -41,0 M -41,0 M
Net cash 2021 882 M 102 M 102 M
P/E ratio 2021 -40,0x
Yield 2021 -
Capitalization 14 278 M 1 653 M 1 650 M
EV / Sales 2021 4,21x
EV / Sales 2022 3,49x
Nbr of Employees 513
Free-Float 0,00%
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Last Close Price 209,10 SEK
Average target price 276,67 SEK
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Managers and Directors
Per Jonas Tellander Director, Chief Executive & Development Officer
Sofie Maria Zettergren Chief Financial Officer
Rustan Jehangir Panday Chairman
Mark Pasternak Head-Technology
Mńrta LangÚen Chief Operating Officer
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