Finland is one of the world’s most developed audiobook markets in terms of subscriptions per capita (and) audiobooks are the second largest revenue stream for Finnish publishers. Total audiobook revenue in Finland grew by 16% in 2022.
Storytel has acquired the audiobook operations of Finland’s largest bookstore chain, Suomalainen Kirjakauppa, from the Otava Group.
Suomalainen Kirjakauppa had 56 physical stores, plus online sales and streaming operations, with its audiobook subscribers now being migrated to Storytel FI.
In November 2022 Otava Group became a shareholder in Storytel, so the decision to pool resources through this acquisition makes a lot of sense.
Per the press release, “Finland is one of the world’s most developed audiobook markets in terms of subscriptions per capita (and) audiobooks are the second largest revenue stream for Finnish publishers. Total audiobook revenue in Finland grew by 16% in 2022.”
For commentary from Storytel Finland Country Manager Tuuva Harjanne, and from Otava Ltd Director Antti Karlqvist, check out the official press release.
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