STOCKHOLM, July 7, 2022
/PRNewswire/ -- Storytel's Q2 2022 streaming revenue came in at
704 MSEK, corresponding to a +29 percent year-on-year growth – +31
percent excluding Russia.
Streaming revenue in the Nordics for the second quarter of 2022
came in at 469 MSEK, in line with forecast. The average number of
paying subscribers for Q2 in the Nordic segment was 1,078,000,
which represents an annual increase of 94,400 subscribers compared
to Q2 2021.
The streaming revenue for the Non-Nordics segment in Q2 2022
totalled 235 MSEK, which corresponds to an annual growth rate of 93
percent. Excluding Russia, the
annual growth rate equalled 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 rate of 48 percent – 64
percent excluding Russia.
"In Q2, Storytel saw continued growth in priority markets in the
Nordics, Europe and in the US,"
says Ingrid Bojner, acting CEO of Storytel. "During Q2 we
successfully introduced a limited-on-time subscription Basic
in several markets, in our continuous effort to offer relevant
alternatives for our subscribers. This offering complements our
Unlimited and Family subscriptions, not least in
challenging times for household economies hit 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
|
Streaming
Total*,**
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
Streaming
Non-Nordics**
|
|
|
|
|
|
|
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 accounts,
Norway is reported in accordance with the equity method.
|
**Includes Russian
operations which is being phased out.
|
FNCA Sweden AB is the company's certified adviser. FNCA can
be reached at info@fnca.se or +46 8 528 00 399.
This information is such that Storytel AB (publ) is obliged
to disclose in accordance with the EU Market Abuse Regulation (EU
nr 596/2014). The information was provided, through the agency of
the below contact persons, at the time stated in this press
release, by Cision.
For more information, please contact:
Andreas Lindblom, Head of Investor
Relations
Tel: +46 72 506 14 22
Email: andreas.lindblom@storytel.com
Dan Panas, Head of Communications
& PR
Tel: +46 70 186 52 90
Email: dan.panas@storytel.com
About Storytel
Storytel is one of the world's largest audiobook and e-book
streaming services and offers over a million 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. The streaming business within the
Storytel Group is conducted under the brands Storytel, Mofibo and
Audiobooks.com. The publishing business is managed by Storytel
Books, and by the audiobook publisher StorySide. The Storytel Group
operates in over 25 markets. The headquarters is located in
Stockholm, Sweden.
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:
https://mb.cision.com/Main/11546/3597630/1601918.pdf
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Release
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