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. |
||||||
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 brought to you by Cision http://news.cision.com
https://news.cision.com/storytel/r/storytel-s-streaming-revenue-for-q2-2022-in-line-with-forecast,c3597630
The following files are available for download:
