Press release from Companies
Publicerat: 2018-07-05 08:30:00
Storytel averaged 621,200 paying subscribers during Q2, 2018, an increase of nearly 200,000 customers compared to Q2, 2017, which is slightly higher than the company's previously released prognosis. Streaming revenues for the period totaled circa 239 MSEK, which corresponds to 43% in annual revenue growth, slightly more than three million SEK higher than expected.
“During the past twelve months we’ve launched Storytel in six new markets, and correspondingly grown outside of Sweden by nearly 140,000 paying subscribers. This is proof that our international expansion, featuring local teams and a clear focus on content and marketing, has been effective,” says CEO Jonas Tellander. The company’s average number of Swedish subscribers in Q2, 2018 was 314,700 –– an increase of nearly 60,000 subscribers (up 23%) from Q2, 2017, which is just above the forecast. Swedish streaming revenues totaled approximately 126 MSEK in Q2, 2018, also just above the forecast. The average number of non-Swedish subscribers in Q2, 2018 totaled 306,500, beating expectations thanks to an increase of nearly 140,000 paying customers (up 83%) compared to Q2, 2017. Streaming revenues from outside of Sweden equaled approximately 113 MSEK during Q2, 2018, just more than two million SEK above forecast. Revenues outside of Sweden in Q2, 2018 contributed about 47% of total streaming income, compared to 39% in Q2, 2017. 2 Contribution Profit is defined as streaming revenue minus costs for content (licensed content and in-house productions) and marketing. 3 ARPU = Average Revenue Per User (Subscriber) per month 4 Storytel Norway included in figures @ 100%. In the consolidated group accounts Norway is reported according to the principle of proportional consolidation. 5 Print Publishing refers to physical books. People’s Press is included in the group from Q2, 2017 –– in this table it is included in each quarter, in an attempt to show comparisons. In Group Accounts all acquisitions are included from the acquisition date. Internal transactions have been redacted. Barnens bokklubb not included in table. 6 Contribution Profit is defined as revenue minus cost per sold unit, distribution costs, and sales and marketing costs. For more information, please contact: Jonas Tellander, CEO and Founder, Storytel cell: +46 (0)70-261 61 36 mail: jonas@storytel.com About Storytel The Storytel group is comprised of two divisions, Streaming and Publishing. The Streaming division currently offers a subscription service for audio books and e-books under the brand names Storytel and Mofibo in Sweden, Norway, Denmark, Finland, Iceland, The Netherlands, Poland, Russia, Spain, India, the United Arab Emirates, Turkey and Italy. The Streaming division also publishes audio books and Storytel Originals, mainly through the audio-book publisher Storyside. The Publishing division is comprised of the publishers Norstedts, Massolit, Kontentan, Telegram, the Danish People’s Press, Storytel Publishing, Rabén & Sjögren and B. Wahlströms, as well as Norstedts Kartor.
Currency: thousand SEK
Q1 2017
Q2 2017
Q3 2017
Q4 2017
Q1 2018
Q2 2018
Streaming Total
Revenue
155 660
167 008
197 881
209 225
222 133
239 139
Contribution Profit1
32 133
27 847
27 784
30 277
24 079
Contribution Margin
20,6%
16,7%
14,0%
14,5%
10,8%
Paying Subscribers
381 200
423 200
503 900
533 400
577 900
621 200
ARPU2 (SEK/Month)
136
132
131
131
128
128
Streaming Sweden
Revenue
96 177
101 365
113 709
118 038
122 046
125 759
Contribution Profit
32 678
31 257
32 872
38 501
43 067
Contribution Margin
34,0%
30,8%
28,9%
32,6%
35,3%
Paying Subscribers
241 400
255 800
282 300
292 700
305 100
314 700
ARPU (SEK/Month)
133
132
134
134
133
133
Streaming International3
Revenue
59 483
65 643
84 172
91 187
100 087
113 380
Contribution Profit
-545
-3 410
-5 088
-8 224
-18 988
Contribution Margin
-0,9%
-5,2%
-6,0%
-9,0%
-19,0%
Paying Subscribers
139 800
167 400
221 600
240 700
272 800
306 500
ARPU (SEK/Month)
142
131
127
126
122
123
Print Publishing4
Revenue
104 137
111 969
132 619
173 832
106 312
Contribution Profit5
37 543
37 840
47 905
66 854
39 223
Contribution Margin
36,1%
33,8%
36,1%
38,5%
36,9%