Storytel Sweden AB (“Storytel”), the leading subscription service for audiobooks and e-books in Northern Europe and the Nordics, will expand service to Germany during the summer of 2019. Launching in Germany is consistent with the company’s strong trajectory of growth and global expansion, which as previously announced also includes Singapore and Brazil this year.
Storytel announced today that its popular service is scheduled to go online in Germany in the summer of 2019. Together with Storytel’s global services team, a group based in Germany will manage the local service, which adheres with Storytel’s global ambition and mission.
The market for German audiobooks is currently estimated at approximately 180 million Euros, including an active audience of eighteen million people (figures from last year). However 47 percent of German audiobook listeners still use CDs, which presents Storytel with an obvious opportunity to help an already strong market transition to digital streaming.
“We see an opportunity to contribute positively to the continued digitalization of the German book market, just as we’ve done in for example Sweden and Denmark. We already had a German service in mind fourteen years ago when we visited the book fairs in Frankfurt and Leipzig, exploring the European book market previous to the birth of Storytel. Storytel’s vision is to make stories and book experiences compelling parts of people’s lives around the world, and it feels amazing that the time has finally come to introduce our service to German consumers,” says Jonas Tellander, CEO and Founder of Storytel.
Storytel has previously announced launches in Singapore and Brazil for 2019.
“We are ready and excited to reach out to Germany, Brazil and Singapore. These are strategically important countries with strong storytelling traditions and dynamic communities, undergoing transformations in their digital distribution, where Storytel’s content and customer experience can really make a difference,” says Stefan Tegenfalk, Head of Expansion at Storytel.
For more information, please contact:
Jonas Tellander, CEO and Founder: +46 70 261 61 36
Dan Panas, Head of Communications: +46 70 186 52 90
FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or 08-528 00 399.
This information is information that Storytel AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at the time set out in this press release.
About Storytel
The Storytel group consists 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, Italy, Mexico and Bulgaria. The Streaming division also publishes audio books and Storytel Originals, mainly through the audio-book publisher Storyside. The Publishing division consists of the publishers Norstedts, Massolit, Printz Publishing, the Danish People’s Press, Storytel Publishing, Rabén & Sjögren and B. Wahlströms, as well as Norstedts Kartor