Storytel has reached a new goal on its strong global growth trajectory. On Monday 18 January 2021, the audiobook and e-book streaming service surpassed the milestone 1,500,000 paying subscribers.
Last week, Storytel presented its subscriber and revenue growth for the fourth quarter of 2020. With an average of 1,442,000 paying customers for the quarter and a full-year growth of 33 percent, the previously presented forecast was exceeded. Storytel also announced that the company expected to pass the milestone of 1.5 million paying subscribers before the end of January – a goal that has now also been achieved.
“Storytel was born 15 years ago with the vision to make the world a more empathetic place with great stories that can be shared and enjoyed by anyone, anywhere and at anytime. I’m profoundly grateful for the amazing response that Storytel receives daily from our users around the world. It makes us, if possible, burn even stronger in our mission to create and develop the very best reading experiences together with authors, publishers and users. A big thank you to all our fantastic customers”, says Jonas Tellander, CEO and founder of Storytel.
Storytel was created in 2005 and became a digital pioneer in the fast-growing global audiobook market. Today, the company is northern Europe’s largest streaming service for audiobooks and e-books, with a total of more than 500,000 titles in the service. Storytel has been launched in over 20 markets in the world and intends to launch a further 20+ markets during the period 2021–2023.
Storytel — from 2005 to today
2005 Jonas Tellander and Jon Hauksson found the Bokilur audiobook service, which subsequently becomes Storytel.
2009 The global financial crisis shakes the world. Storytel’s CEO Jonas Tellander takes part in “Draknästet”, a Swedish TV programme, and secures financing for the company’s continued offensive venture.
2011 The first Storytel-produced audiobook is launched on the market.
2016 Storytel acquires Norstedts Förlagsgrupp, the second largest publishing group in Sweden. Storytel also acquires its Danish audiobook competitor Mofibo.
2017 Storytel acquires People’s Press, the fourth largest publisher in Denmark.
2018 Storytel launches the Storytel Reader tablet. High focus on international expansion with launches on six new markets. Storytel is listed on Nasdaq First North. The Family subscription is created.
2019 In August, Storytel passes a new milestone: one million paying subscribers. In September, Finland’s third largest publisher, Gummerus Kustannus, is acquired. Storytel’s expansion continues and reaches Brazil, Germany and South Korea.
2020 Storytel acquires its competitor in the Middle East, Kitab Sawti, and creates the world’s largest audiobook offering in Arabic. Storytel also increases its presence in the Asia Pacific region and in Western Europe through launches in Thailand and Belgium. Storytel acquires the Israeli audiobook service iCast, as well as an 80 percent majority share in the Nordic audiobook production company EarSelect.
2021 In January Storytel passes the milestone of 1.5 million paying subscribers. Storytel currently has employees of 43 nationalities in over 20 markets and manifests the importance of diversity by introducing flexible holidays. Storytel’s management team today consists of 60 percent women and 40 percent men. In the organization as a whole, the gender distribution is 52 percent women and 48 percent men.
FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.
For more information, please contact:
Sofie Zettergren, CFO, Storytel AB: +46 70 509 98 08
Dan Panas, Head of Communications, Storytel AB: +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 Press and Gummerus. Storytel operates in over 20 markets around the globe and is headquartered in Stockholm, Sweden.