contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


modular-finance-ir-consensus-storytel-consensus-estimates-q2-2024

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Storytel offers technical services within the Streaming and Publishing business areas. Examples of services that the company delivers include subscription services for audio and E-books as well as several different audiobook publications. The business is conducted based on several book publishers. Storytel has the majority of customers operating in the Nordic and European markets, with its headquarters in Stockholm.

I came across this on social media, but I couldn’t find Storytel’s own announcement about it.  So, some agreement has been made regarding Storytel’s selection on economic grounds, but they cannot predict what Spotify’s entry into the market will lead to.

PublishersWeekly.com              Spotify Adds Audiobooks in Four More Countries    Spotify has launched audiobooks in the Nordic nations of Sweden, Finland, Denmark, and Iceland, bringing its model to one of the world's most mature digital audio markets. The catalog will offer some 300,000 books, including 60,000 local language...                              Owen Smith, head of audiobooks at Spotify, said the company had secured partnerships with both Bonnier and Storytel’s publishing companies.  Hmm, so Storytel has sold some rights to Spotify, and when you combine this with the CFO’s purchases yesterday (0.8 million SEK) after Spotify’s announcement, could there be something positive behind this, or am I just on hopium? One would think that some announcement would have been made about this by now? (edit) No, it actually means that Spotify has made some agreements with Storytel Books and StorySide, which are Storytel’s publishing companies.

Exactly, Spotify is so expensive that I don’t necessarily see much pressure in the short term. Premium’s 12 hours is only enough for a casual listener, not for the target audience of audiobook services. An additional 10 hours for 8 euros will hardly change the situation much. When I myself pay 10 euros a month for Storytel’s 100 hours a month, I wouldn’t even think of switching.

Spotify indeed had a comprehensive catalog, it completely surprised me. The only consolation from Storytel’s perspective is that Spotify offers only 12 hours of audiobook listening per month included in Premium. Additionally, with an €8 surcharge, you only get 10 more hours, which makes the pricing quite steep compared to dedicated audiobook services. Of course, this is where the competition begins, and it’s difficult to challenge Spotify’s might.

It took years from the first news that Spotify’s audiobooks became available here too. At first glance, it seems unbeatable. It appears to have everything that Storytel/Bookbeat/Nextory has (excluding their own content) and, in addition, even more comprehensive English content, which I have had to buy from Audible due to its absence from other services. There are even a few books from my wishlists that I haven’t found in any other audiobook service. In addition to the books included in Premium, some books can be purchased through the service. When one is already paying for a music service anyway and gets a comprehensive selection of audiobooks for the same price, then it’s a truly challenging position to compete against. I honestly didn’t expect such a good selection right from the start.

I ended up selling my Storytel shares due to this news: I took a small loss, but for now, I decided to exit because:  Growth is rather modest, and Spotify’s entry into the market will likely erode profitability, as more money will probably need to be invested in content production and marketing. Spotify Premium’s penetration is already very good in the Nordics. According to some studies found with a quick Google search, 95% of music listeners stream it, and nearly 50% pay for it (with Spotify likely taking the lion’s share), so this immediately impacts Storytel, even if the selection is narrower, etc.  Of course, this could still turn out very well, and I’ll gladly jump back on board when the picture clears up, but for now, I’m happier watching from the sidelines.

Helsingin Sanomat – 18 Nov 25              Äänikirjat | Spotify laajentaa äänikirjoihin Suomessa: Useat kustantamot mukana    Musiikkijätti päivittää äänikirjat sovellukseen tiistai-iltapäivällä 18. marraskuuta.                             Hesari writes that Spotify is now also starting to offer audiobooks in Finland.                   Spotify – 18 Nov 25              Spotify Expands Audiobook Access for Premium Subscribers in Five More...    Our mission to make Spotify the ultimate home for all things audio continues. Starting today, eligible Premium listeners in Sweden, Denmark, Finland, Iceland, and Monaco can explore more than 300,000 audiobooks, now included with their existing...                             And Spotify’s own press release. It is indeed expanding to the Nordics, and this is a bit of an unpleasant matter from Storytel’s perspective, as the Nordics is its largest market area.

Storytel

Estimates compiled by Modular Finance on behalf of Storytel. Number of contributors: 4 (all of which have been updated or confirmed before the report)KPI (MSEK, unless otherwise specified)Q2...

<div class="mfn-body"><p>Estimates compiled by Modular Finance on behalf of Storytel.<br><br>Number of contributors: 4 (all of which have been updated or confirmed before the report)</p><table><tbody><tr><td rowspan="1" colspan="1"><strong>KPI (MSEK, unless otherwise specified)</strong></td><td rowspan="1" colspan="1" align="right"><strong>Q2 2024E</strong></td></tr><tr><td rowspan="1" colspan="1">Revenue</td><td rowspan="1" colspan="1" align="right">909</td></tr><tr><td rowspan="1" colspan="1">Revenue growth (%)</td><td rowspan="1" colspan="1" align="right">6.8</td></tr><tr><td rowspan="1" colspan="1">Gross profit</td><td rowspan="1" colspan="1" align="right">388</td></tr><tr><td rowspan="1" colspan="1">Gross margin (%)</td><td rowspan="1" colspan="1" align="right">42.8</td></tr><tr><td rowspan="1" colspan="1">Adjusted EBITA</td><td rowspan="1" colspan="1" align="right">126</td></tr><tr><td rowspan="1" colspan="1">Adjusted EBITA margin (%)</td><td rowspan="1" colspan="1" align="right">13.8</td></tr><tr><td rowspan="1" colspan="1">EBIT</td><td rowspan="1" colspan="1" align="right">47</td></tr><tr><td rowspan="1" colspan="1">EBIT margin (%)</td><td rowspan="1" colspan="1" align="right">5.2</td></tr><tr><td rowspan="1" colspan="1">Earnings per share (SEK)</td><td rowspan="1" colspan="1" align="right">0.39</td></tr><tr><td rowspan="1" colspan="1"><strong>Streaming Total</strong></td><td rowspan="1" colspan="1" align="right"><br></td></tr><tr><td rowspan="1" colspan="1">Avg. Paying Subscribers</td><td rowspan="1" colspan="1" align="right">2,302,750</td></tr><tr><td rowspan="1" colspan="1"><strong>Streaming Nordics</strong></td><td rowspan="1" colspan="1" align="right"><br></td></tr><tr><td rowspan="1" colspan="1">Avg. Paying Subscribers</td><td rowspan="1" colspan="1" align="right">1,198,600</td></tr><tr><td rowspan="1" colspan="1"><strong>Streaming Non-Nordics</strong></td><td rowspan="1" colspan="1"><br></td></tr><tr><td rowspan="1" colspan="1">Avg. Paying Subscribers</td><td rowspan="1" colspan="1" align="right">1,104,125</td></tr></tbody></table><p>More consensus estimates can be found on Storytel’s webpage:<br><a rel="noopener" href="https://www.storytelgroup.com/en/investor-relations/analyst-coverage-and-estimates/">https://www.storytelgroup.com/en/investor-relations/analyst-coverage-and-estimates/</a></p><p>Storytel’s Q2 report will be released on Tuesday 30 July at 08:00 CEST.</p></div><div class="mfn-footer mfn-attachment mfn-attachment-general"><p><strong class="mfn-heading-1">Attachments</strong><br><a rel="noopener" href="https://storage.mfn.se/7cb5a28a-4428-4860-ba2c-e79700f9f33f/storytel-consensus-estimates-q2-2024.pdf" class="mfn-generated mfn-primary">Storytel – Consensus estimates Q2 2024</a></p></div>

KPI (MSEK, unless otherwise specified)	Q2 2024E
Revenue	909
Revenue growth (%)	6.8
Gross profit	388
Gross margin (%)	42.8
Adjusted EBITA	126
Adjusted EBITA margin (%)	13.8
EBIT	47
EBIT margin (%)	5.2
Earnings per share (SEK)	0.39
Streaming Total
Avg. Paying Subscribers	2,302,750
Streaming Nordics
Avg. Paying Subscribers	1,198,600
Streaming Non-Nordics
Avg. Paying Subscribers	1,104,125