Brief: Storytel's Q4 Streaming Revenues In Line With Forecast

Storytel AB (publ)

10/01/2022 07:11

Jan 10 (Reuters) - Storytel AB (publ)  STORYb.ST :
    * STORYTEL'S STREAMING REVENUES FOR Q4 2021 IN LINE WITH FORECAST
    * STORYTEL'S STREAMING REVENUES FOR Q4 OF 2021 CAME IN AT 605 MSEK, WHICH IS WITHIN
FORECASTED
RANGE, BOTH IN NORDIC AND NON-NORDIC SEGMENT
    * FULL YEAR 2021 STREAMING REVENUES CAME IN AT 2,251 MSEK (+20% YEAR-ON-YEAR) SLIGHTLY ABOVE
FORECAST OF 2,250 MSEK
    * STORYTEL HAD AN AVERAGE OF 1,784,600 PAYING SUBSCRIBERS IN Q4 OF 2021
    * TOTAL NUMBER OF PAYING SUBSCRIBERS END-OF-YEAR WAS 1.81 MILLION, (+22% YEAR-ON-YEAR)
COMPARED TO
FORECAST OF 1.82-1.84 MILLION.
    * STREAMING REVENUES FOR NON-NORDIC SEGMENT TOTALLED 146 MSEK IN Q4, CORRESPONDING TO AN
ANNUAL
GROWTH OF 41 PERCENT
    * WE SEE CONTINUED STRONG MOMENTUM IN POLAND, RUSSIA AND TURKEY AS INVESTMENTS KICK IN,
WHEREAS
GROWTH IN NETHERLANDS WAS SOMEWHAT SLOWER THAN ANTICIPATED
    * WE ARE ALSO STARTING TO SEE POSITIVE MOMENTUM IN LATAM REGION AFTER AN EXTENDED SLUMP IN
AFTERMATH OF COVID-19 PANDEMIC
    * SUBSCRIBER GROWTH IN INDIA CONTINUES TO BE SLOW IN Q4, AS RECURRING PAYMENTS WERE BANNED
EARLIER
IN 2021, LEADING TO A TEMPORARILY INCREASED CHURN

Source text for Eikon:  ID:nWkrNJG7f 
Further company coverage:  STORYb.ST 

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