Storytel
Storytel is a Swedish digital media group built around subscription streaming of audiobooks, e-books and podcasts, combined with a publishing business that supplies content to its own platform and to external buyers. Its operations span more than 25 markets, with brands including Storytel, Mofibo and Audiobooks.com, and a portfolio of publishers such as Norstedts Förlagsgrupp, Lind & Co, Gummerus, Bokfabriken, People’s and Storyside.
Fiscal year 2025 · change from previous year
Development 2022–2025
Business
Share of revenueConsumer and partner access to audiobooks, e-books and podcasts through Storytel-branded apps.
Subscription and content arrangements with third-party partners and distributors.
External sales of physical and digital books plus internal content supply to the streaming platform.
Customers
Storytel sells primarily to individual consumers who subscribe for on-demand access to spoken and written books, especially in markets where local-language catalog depth matters. It also serves business partners that bundle or distribute Storytel content, and publishing customers that buy books through the group’s imprints and channels. Authors and rights holders are indirect but important counterparties because the platform depends on a steady flow of licensed and owned content.
Individuals paying monthly for access to audiobooks, e-books and podcasts on Storytel, Mofibo and Audiobooks.com.
Telecoms, platforms and other distributors that package Storytel content or subscriptions for their own customers.
Retail and trade customers purchasing books from the group’s publishing houses in physical and digital formats.
Rights holders whose titles are licensed or published to build the catalog and support differentiated local content.
Strategy
Storytel’s strategy centers on combining a large digital catalog with local-language content and a vertically integrated publishing model. The company emphasizes growth in core markets, expansion into selected non-English-speaking markets, and product improvements that make reading and listening more seamless across formats.
Local content is a key driver of subscriber acquisition and retention in each market.
Owning and controlling more content improves sourcing, differentiation and speed to market.
Better user experience supports retention and monetization in subscription streaming.
Automation and workflow improvements can support scale across content and platform operations.
Geography
Storytel operates across more than 25 markets, with a core footprint in the Nordics and additional streaming and publishing activity in non-Nordic core markets and the rest of the world. The business is shaped by local-language catalog needs, so country mix matters for subscriber growth, content sourcing and publishing relationships. The reports also highlight expansion into new markets such as Estonia and continued focus on non-English-speaking countries in Europe.
Risks
Storytel is exposed to competition, subscriber churn, and the need to keep its catalog attractive through licensing and publishing relationships. Its digital platform also creates cyber and outage risk, while macroeconomic weakness, regulation and currency movements can affect consumer demand, content costs and financing conditions.
- Content supply and rights retentionImpact: HighLikelihood: Medium
The business depends on attractive catalog depth and market-appropriate contract terms.
Exposure: Publishing and streaming catalog
- Cyber attacks and system outagesImpact: HighLikelihood: Medium
The service is delivered through owned and supplier-operated technical platforms.
Exposure: Digital platform operations
- Competition in digital reading and listeningImpact: HighLikelihood: Low
The company competes with established platforms and new entrants for subscribers and content.
Exposure: Streaming subscriptions
- Foreign exchange and financing conditionsImpact: MediumLikelihood: High
The group operates across multiple currencies and uses debt and cash management policies.
Exposure: International operations
- Macroeconomic and political uncertaintyImpact: MediumLikelihood: Medium
Consumer spending and market conditions can affect subscription intake and churn.
Exposure: Multi-market consumer demand
Accounting
Judgemental itemsThe group carries goodwill from acquisitions and must test it annually or when indicators arise.
Impact: Can create non-cash write-downs if expected cash flows weaken
Recent acquisitions require purchase price allocation across intangibles, inventory, liabilities and goodwill.
Impact: Affects reported assets, amortization and future earnings
Publishing revenue supplied to streaming is eliminated in consolidation and segment reporting.
Impact: Can change segment margins and group revenue presentation
Subscriber intake and engagement vary through the year across both streaming and publishing.
Impact: Quarterly results may not be directly comparable
Right-of-use assets, lease liabilities and amortized-cost debt affect leverage and balance sheet presentation.
Impact: Influences net debt, depreciation and interest expense
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Last updated: 24/09/2026