Audiobooks

Audiobooks is one of the world's largest audiobook distributors. By November 2021, the service offers about 300 thousand audiobooks and millions of podcasts.

History

2021: Storytel bought Audiobooks

In mid-November 2021, Storytel announced the purchase of Audiobooks. The acquisition will be funded by existing funds and a recently issued credit line of $57.3 million, Storytel said in a statement.

The deal marks Storytel's entry into the English-language audiobook market, which puts it in direct competition with the leader of this Audible market Amazon. Storytel is the dominant audiobook streaming service in Scandinavian countries, the company is rapidly expanding worldwide through acquisitions. As of November 2021, the company has more than 1.7 million subscribers of which more than 1.3 million in the countries of North, Europe as well as more than 30 languages ​ ​ on a global scale. The company operates in 25 countries, including,,, Brazil, and Israel. India Spain South Korea United Arab Emirates

Storytel acquired Audiobooks

I was impressed by Audiobooks' success, knowledge and experience in the market as USA well as Great Britain and. Australia Audiobooks is a growing profitable business with a consumer and partner friendly approach that offers Storytel a new growth platform. Now I look forward to working with our teams, publishers and partners to make listening to audiobooks as popular in English-language markets as it has become in recent years in Northern countries, " Europe said Storytel CEO and founder Jonas Tellander.

The head of Audiobooks, Jan Small, will continue to oversee the company and sees even faster growth ahead. According to Jan Small, thanks to the combined industry experience of Storytel and Audiobooks, we will continue to fuel the passion and interest of the English-speaking audience and bring our services to a new level. LionTree Advisors acted as financial advisor to Audiobooks, and Weil, Gotshal & Manges LLP acted as legal advisor to Storytel.^[1]

Notes