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Storytel's streaming revenue for the second quarter exceeded expectations.
Storytel's revenue for the second quarter amounted to about 239 million, or 43% annual growth and just over 3 million kronor. 621,200 paying subscribers on average in the second quarter of 2018, an increase of nearly 200,000 customers compared to the corresponding period of last year and slightly higher than previously announced forecasts.
"In the last 12 months, we launched Storytel in 6 new markets, with the average number of subscribers in Europe increasing by almost 140,000 paying subscribers over the same period, reflecting the fact that our international efforts with local teams and a strong focus on content and marketing are producing results. "Sweden has grown to 314,700 subscribers, just above forecasts and an increase of nearly 60,000 subscribers entering from in the second quarter of 2017 (+ 23%) .In Sweden, the revenue generated by streaming amounted to about 126 million SEK, just above expectations.
The average number of subscribers to the Overseas was 306,500 subscribers, just above forecasts.At abroad, streaming revenue amounted to about 113 million SEK in the second quarter, just over 2 million more than expected.
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