In July 2020, Storytel acquired the Arabic audiobook company Kitab Sawti and initiated a strategic review with the intention of merging the regional Storytel app with Kitab Sawti. Starting today, a joint Kitab Sawti/Storytel team will offer the world's largest audiobook library in Arabic to subscribers in the MENA region under the consumer brand Storytel.
"Storytel and Kitab Sawti have become known as story-focused innovators in the audiobook market in the eyes of both the consumers and publishers in the MENA region. It is truly exciting to merge these two inspiring and leading `storytelling forces' under one brand to establish a true regional powerhouse for audiobook experiences", says Ingrid Bojner, CCO at Storytel.
A strategic review was initiated following Storytel's acquisition of Kitab Sawti in 2020. This review resulted in a unified Kitab Sawti and Storytel Arabia team that is already in place and the initiation of a joint Storytel platform in the MENA region.
"To constantly challenge ourselves and improve every dimension of the customer experience - strengthening the bond between the audience and local authors and publishers - is part of our DNA. We are confident that this joint platform will be the catalyst that spurs growth in the Arabic market and a greenhouse of opportunity and cooperation for our publishing and commercial partners", says Sebastian Bond, founder of Kitab Sawti and Head of Storytel MENA.
FNCA Sweden AB is the company's certified adviser. FNCA can be reached at info@fnca.seor +46 8 528 00 399.
For more information, please contact:
Sebastian Bond, founder of Kitab Sawti and Head of Storytel MENA
Tel: +971 58 578 4092
E-mail: sebastian.bond@storytel.com
Dan Panas, Head of Communications, Storytel AB
Phone: +46 701 865 290
E-mail: dan.panas@storytel.com
About Storytel
Storytel is one of the world's largest subscribed audiobook and e-book streaming services and offers listening and reading of more than 500 000 titles on a global scale. Our vision is to make the world a more empathetic and creative place with great stories to be shared and enjoyed by anyone, anywhere and anytime. Storytel's streaming business is conducted under the brands Storytel and Mofibo. Storytel's publishing business area is carried out through the audiobook publisher StorySide and acclaimed Nordic publishing houses such as Norstedts, People's and Gummerus. Storytel operates in over 20 markets around the globe and is headquartered in Stockholm, Sweden.