Storytel in line with forecast for Q2 2021

2021-07-07 08:00:00

The average number of paying Storytel subscribers in the Nordic segment in the second quarter of 2021 was 983,600, which was 1,600 paying subscribers above forecast and corresponds to an annual customer base increase of 150,300 subscribers compared to the second quarter of 2020. Streaming revenues in the Nordics came in at 423.3 MSEK, which was in line with forecast. The ARPU for the Nordic segment came in at 143 SEK, which was in line with the forecasted 143 SEK. 

In the Non-Nordic segment, the average number of subscribers grew by 52 percent compared to the second quarter of 2020 and totalled 643,300. This was in line with forecast and corresponds to an annual growth of 219,600 paying subscribers. Streaming revenues for the Non-Nordic segment totalled 122.1 MSEK, corresponding to an annual growth of 32 percent and slightly below forecast. The ARPU for the Non-Nordic segment came in at 63 SEK, which was slightly below forecast for the second quarter of 2021.

"The customer intake continued to grow according to plan both in the Nordic and the Non-Nordic segment during the quarter. This was driven both by our popular classic - the Storytel Unlimited subscription -  and by the lower priced Select subscription, limited on language, which contributed to soaring subscriber growth with slightly lower ARPU for Storytel on the Indian market," says Jonas Tellander, founder and CEO of Storytel.

"Storytel's commitment to create flexible and attractive subscription solutions for all consumer groups, also resulted in launches of our Light subscription, limited on time, in Russia, Spain, Mexico and Turkey during the quarter," says Jonas Tellander.

Table 1: Key Performance Indicators for Streaming

TSEK  Q2 2020  Q3 2020  Q4 2020  Q1 2021  Q2 2021  Q2 2021 
Streaming Actual  Forecast 
Total
Revenue  459,115  490,234  503,449  517,075 545,451 545,000 
Contribution 100,493  113,663  107,074  97,592 
Profit 
Contribution 21.9%  23.2%  21.3%  18.9% 
Margin 
Avg. Paying 1,257,000  1,360,300  1,442,000  1,540,600  1,626,900 1,625,000 
Subscribers 
ARPU  122  120  116  112  112 112 

Streaming
Nordics
Revenue  366,322  394,453  399,639  401,834 423,323 422,000 
Contribution 107,176  125,534  134,166  119,418 
Profit 
Contribution 29.3%  31.8%  33.6%  29.7% 
Margin 
Avg. Paying 833,300  902,000  926,000  957,500  983,600 982,000 
Subscribers 
ARPU   147  146  144  140  143 143 

Streaming
Non-Nordics 
Revenue  92,793  95,781  103,810  115,240  122,128 123,000 
Contribution -6,684  -11,872  -27,092  -21,826 
Profit 
Contribution -7.2%  -12.4%  -26.1%  -18.9% 
Margin 
Avg. Paying 423,700  458,300  516,000  583,100  643,300 643,000 
Subscribers 
ARPU   73  70  67  66  63 64 
 

FNCA Sweden AB is the company's certified adviser. FNCA can be reached at info@fnca.seor +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 person, at the time stated in this press release, by Cision.

For further information, please contact:

Sofie Zettergren, Chief Financial Officer, Storytel AB

Tel: +46 70 509 98 08

 

Dan Panas, Head of Global Communications & PR, Storytel AB

Tel: +46 70 186 52 90

 

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 and Gummerus. Storytel operates in 25 markets around the globe and is headquartered in Stockholm, Sweden.

Cision