2024 a new year of success for BookBeat - 21 percent growth, black numbers and one million users

For the streaming service BookBeat, 2024 was the most successful year in the company's history to date. Growth amounted to 21 percent for the full year, landing at SEK 1.36 billion. The company also reported a positive EBITA result for the first time since its inception in 2015. In September, the goal of one million paying users per month was also achieved.

The majority of BookBeat's 21 percent growth in 2024 was organic, proving that the market for streaming audiobooks is still far from saturated in the company's core markets, all of which show at least double-digit growth. The goal of becoming profitable was achieved and the company shows a positive EBITA result and cash flow for the full year 2024 for the first time since its inception in 2015.

- We are extremely proud to achieve at least double-digit growth in all core markets in 2024, grow a total of 21 percent, and take BookBeat into black numbers. Nine years into our journey, we are now not just a growth company, but a profitable company that continues to show good growth. Not since we launched have we taken such big steps in a single year, says Niclas Sandin, CEO of BookBeat.

An important milestone for BookBeat in 2024 was passing one million paying users per month, which happened already in September. At the end of the year, BookBeat had 1,064,000 paying users. The growth in 2024 came primarily from an increased influx of new users in all core markets, thanks to successful local investments in marketing and continuous development of the service and offering. A smaller part of the growth can be attributed to the takeover of users from the Finnish service Elisa Kirjat in May 2024.

In addition to the milestone of one million paying users, the historic figure of one billion hours listened to and read was also passed since the service's beta launch at the end of 2015.

- When we launched BookBeat, I could not have dreamed that in just nine years we would manage to get people around Europe to spend over a billion hours on books. Especially in a world where all media formats are increasingly competing for people's time and attention. It is proving that books are highly relevant and can now reach more people than ever via digital formats, says Niclas Sandin.

Accumulated in all markets, BookBeat has paid out SEK 3.5 billion in compensation to publishers and authors from launch in 2015 to 2024.

- Getting more people to spend their time and money on books is BookBeat's sole focus. We aim to be the leading digital book service in all our core markets. Therefore, it is great to see that we can significantly contribute to continued growth in the number of books sold. This is something we will continue to do in 2025, concludes Niclas Sandin.