Swedish ebook and audio streaming platform Storytel reported earnings for the second quarter ending June 30, with net sales of SEK554 million ($63.4 million), up from SEK402 million in Q2 2019. EBITDA was a loss of SEK(37.8) million, improved from a loss of SEK(78.6) million last year’s quarter. The average number of paying subscribers was 1,257,000, up from 887,500 last year, or 42 percent. Streaming revenue was SEK459.1 million, up from SEK 320.1 million, or 43 percent, with the company forecasting 32 percent growth for the year as a whole. Print revenue — from Storytel-owned publishing houses Norstedts, People’s Press […]
