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Regulatory press release

Storytel’s Q1 2022 streaming revenue in line with forecast

Storytel's Q1 streaming revenues came in at 699 MSEK, in line with forecasts for both the Nordics and Non-Nordics segments. This represents a +35% year-on-year growth (+33% with constant exchange rates). Adjusting for the acquisition of the US streaming service, the organic year-on-year streaming growth was +19%.

Streaming revenues in the Nordics for the first quarter of 2022 came in at 459 MSEK, which is within the forecasted range. The average number of paying subscribers in Q1 in the Nordic segment was 1,061,000.

Q1 2022 streaming revenues for the Non-Nordics segment totalled 240 MSEK, compared to 115 MSEK in Q1 2021, representing one third of total streaming revenues for Storytel. This corresponds to an annual revenue growth of 108%. The acquisition of contributed considerably in the first quarter with revenue of 82 MSEK and an increased ARPU to 81 SEK for the segment, compared to 66 SEK a year ago. The quarter also included a slight negative revenue effect due to Storytel’s communicated pause of its Russian operations in March. The average number of paying subscribers in the Non-Nordics segment was 990,000, an increase with 406,900 paying subscribers, compared to the first quarter of 2021.

“In January 2022, Storytel closed its acquisition of, marking our entry to the US market. Entering and expanding our presence to the English-speaking world underlines our strategy to launch and expand our service in more established audiobook markets. Organic growth is healthy across both the Nordics and Non-Nordics segments and I am happy that we have surpassed 2 million paying subscribers – a big milestone on our growth journey,” says Ingrid Bojner, acting CEO of Storytel. 

Table 1: Key Performance Indicators for Streaming

TSEK Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q1 2022
Streaming Total* Actual Forecast
Revenue 517,075 545,451 583,084 605,128 698,599 693,000-700,000
Contribution Profit** 97,592 105,933 94,655 71,501
Contribution Margin** 18.9% 19.4% 16.2% 11.8%
Avg. Paying Subscribers*** 1,540,600 1,626,900 1,724,000 1,784,600 2,051,000
ARPU (SEK/Month) 112 112 113 113 114
Streaming Nordics*
Revenue 401,834 423,323 447,199 459,018 458,555 458,000-460,000
Contribution Profit 119,418 127,010 135,684 128,319
Contribution Margin 29.7% 30.0% 30.3% 28.0%
Avg. Paying Subscribers 957,500 983,600 1,024,000 1,047,900 1,061,000
ARPU (SEK/Month) 140 143 146 146 144
Streaming Non-Nordics
Revenue 115,240 122,128 135,885 146,110 240,044 235,000-240,000
Contribution Profit -21,826 -21,078 -41,030 -56.817
Contribution Margin -18.9% -17.3% -30.2% -38.9%
Avg. Paying Subscribers 583,100 643,300 700,000 736,700 990,000
ARPU (SEK/Month) 66 63 65 66 81

*Storytel Norway is included in the figures @ 100%. In the consolidated accounts, Norway is reported in accordance with the equity method.
**Replaced in the Q1-report by gross profit/margin in connection with transition to IFRS.
***The definition of paying subscribers has been adjusted in the first quarter to include all subscribers, whereas heavily discounted subscribers were previously excluded (no revenue impact, adding approximately 14,300 subscribers).

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at 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 further information, please contact:

Andreas Lindblom, Head of Investor Relations
Tel: +46 72 506 14 22

Dan Panas, Head of Communications & PR
Tel: +46 70 186 52 90

About Storytel

Storytel is one of the world’s largest audiobook and e-book streaming services and offers over 700,000 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. The streaming business within the Storytel Group is conducted under the brands Storytel, Mofibo and 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.