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Storytel’s streaming revenues for Q2 2022 in line with the forecast

Storytel’s streaming revenues for Q2 2022 in line with the forecast

STOCKHOLM, July 7, 2022 / PRNewswire / – Storytel’s streaming revenues for the second quarter of 2022 came in at SEK 704 million, corresponding to a growth of +29 per cent from year to year – +31 per cent excl. Russia.

Streaming revenues in the Nordic region for the second quarter of 2022 amounted to SEK 469 million, in line with the forecast. The average number of paying subscribers for the second quarter in the Nordic segment was 1,078,000, which represents an annual increase of 94,400 subscribers compared with the second quarter of 2021.

Streaming revenues for the non-Nordic segment in Q2 2022 were SEK 235 million, which corresponds to an annual growth rate of 93 per cent. Excluded Russia, the annual growth rate corresponded to 112 percent. The number of paying subscribers in the non-Nordic segment amounted to 953,000 in Q2 2022. This corresponds to an annual growth of 48 per cent – 64 per cent without Russia.

“In the second quarter, Storytel continued to see growth in priority markets in the Nordic region, Europe and in the United States, “he said Ingrid Bojner, acting CEO of Storytel. “During the second quarter, we introduced a time-limited subscription Basics in several markets, in our continuous work to offer relevant options to our subscribers. This offer complements ours Unlimited and Family subscriptions, not least in challenging times for household economies affected by the consequences of inflation. “

Table 1: Key Performance Indicators for Streaming

TSEK

Q2 2021

Q3 2021

Q4 2021

Q1 2022

Q2 2022

Q2 2022

Total power *, **





Actual

Forecast

Revenue

545,451

583,084

605,128

698,599

704,454

698 000-705 000

Gross profit

209 529

233,287

220 003

283,868



Gross margin

38.4%

40.0%

36.4%

40.6%



Avg. Paying subscribers

1 626 900

1 724 000

1 784 600

2 051 000

2 031 000


ARPU (SEK / month)

112

113

113

114

116









Streaming Nordics *







Revenue

423,323

447,199

459 018

458,555

469,390

472 000-474 000

Gross profit

161,457

179,074

171,791

165,788



Gross margin

38.1%

40.0%

37.4%

36.2%



Avg. Paying subscribers

983 600

1 024 000

1 047 900

1,061,000

1,078,000


ARPU (SEK / month)

143

146

146

144

145









Non-Nordic Streams **







Revenue

122,128

135,885

146,110

240 044

235,064

226 000-231 000

Gross profit

48,073

54,213

48,212

118 080



Gross margin

39.4%

39.9%

33.0%

49.2%



Avg. Paying subscribers

643,300

700 000

736 700

990 000

953 000


ARPU (SEK / month)

63

65

66

81

82


* Storytel Norway is included in the figures @ 100%. In the consolidated financial statements, Norway is reported according to the equity method.

** Includes Russian operations that are being wound up.

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FNCA Sweden AB is the company’s certified advisor. FNCA can be reached at [email protected] or +46 8 528 00 399.

This information is as Storytel AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation (EU no. 596/2014). The information was provided, through the agency to the contact persons below, at the time stated in this press release, by Cision.

For more information, please contact:
Andreas Lindblomhead of investor contact
Tel: +46 72 506 14 22
Email: [email protected]

Dan Panashead of communication and PR
Tel: +46 70 186 52 90
Email: [email protected]

About Storytel

Storytel is one of the world’s largest audiobook and e-book streaming services and offers over one million titles on a global scale. Our vision is to make the world a more empathetic and creative place, with great stories that can be shared and enjoyed by anyone, anywhere and anytime. The streaming business in Storytel Group is operated under the brands Storytel, Mofibo and Audiobooks.com. The publishing business is managed by Storytel Books, and by the audiobook publisher StorySide. Storytel Group operates in over 25 markets. The headquarters are located in StockholmSweden.

This information was provided to you by Cision

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Storytel’s streaming revenues for Q2 2022 in line with the forecast

SOURCE Storytel

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