Storytel enters into a new agreement with Bonnierförlagen
Storytel Sweden AB (“Storytel”) has today entered into a three-year term agreement with Bonnierförlagen. This means that Storytel’s approximately 400,000 Swedish customers once again will have access to the full catalogue of Bonnierförlagen, including new releases, from 1 September 2019.
Storytel has since 1 April 2019 not been able to offer new releases from Bonnierförlagen due to a disagreement between the parties as to content of a new cooperation agreement.
Today, a new three-year term agreement has been entered into, meaning that Storytel’s Swedish customers again will be able to access new titles from Bonnierförlagen.
Bonnierförlagen’s titles published from 1 April 2019 until today will be made available on the Storytel platform as soon as possible, and no later than 1 September 2019.
Jonas Tellander, CEO, Storytel:
“I am extremely happy that Storytel’s customers, once again, will be able to read and listen to the full catalogue of Bonnierförlagen, including new releases. Storytel and Bonnierförlagen have had intense negotiations during the summer, resulting in the agreement that was signed today. It has been a two-way street of give and take, where we now have found a long-term solution which also disperse any uncertainty about Storytel’s offering in Sweden, and which both parties are satisfied with.The agreement gives Storytel a reasonable margin on Bonnierförlagen’s books, which was an essential condition. It is a good deal for both parties, and where the big winners are our customers and the authors”.
Håkan Rudels, CEO, Bonnierförlagen:
“With this agreement, we have secured predictable and long-term sustainable compensation levels for us and our authors, which has been absolutely crucial for us. At the same time, this agreement will allow us to put all of our energy into continued investments in, and development of, new stories, authorships and literature. I am very happy that all of our authors’ books are again made available to Storytel’s readers and listeners. I am convinced that this cooperation agreement is for the benefit of the whole Swedish book industry”.
For further information, please contact
Storytel
Jonas Tellander, CEO, Storytel
Tel: +46 70 261 61 36
Email: jonas.tellander@storytel.com
Dan Panas, Head of Communications, Storytel
Tel: +46 70 186 52 90
Email: dan.panas@storytel.com
Bonnierförlagen
Håkan Rudels, CEO, Bonnierförlagen
Tel: +46 73 773 80 65
Email: hakan.rudels@bonnierbooks.com
Katarina Arborelius, Head of Corporate Communications, Bonnierförlagen
Tel +46 70 696 66 90
Email: katarina.arborelius@bonnierforlagen.se
FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or +46 8 528 00 399.
This information is information that Storytel AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at the time set out in this press release.
About Storytel
Storytel is Northern Europe’s leading audiobook and e-book streaming service and offers unlimited listening and reading of more than 300 000 titles on a global scale. Our vision is to make the world a more empathetic place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel is a digital platform provider as well as a comprehensive publishing group. The streaming business area offers subscriptions for audiobooks and e-books under the Storytel and Mofibo brands. Storytel’s publishing business area is carried out through the publishing houses Norstedts, Massolit, StorySide, Printz Publishing, People’s Press, Rabén & Sjögren, B.Wahlströms and Norstedts Kartor. Ztory – a subscribed digital read-all-you-can streaming service for newspapers and magazines, is part of Storytel since January 2019. Storytel operates in 17 markets around the globe and is headquartered in Stockholm, Sweden.