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Storytel's streaming revenue for Q2 2022 in line with forecast


News provided by

Storytel

07 Jul, 2022, 06:52 GMT

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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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