Akademibokhandel’s subsidiary Bokus will start audiobook streaming in Sweden this spring, going head to head with Storytel, Bookbeat and Nextory.
Boktugg reports this week that Bonnier-owned Bookbeat saw revenue rise 283% last year and that it is is hoping to hit SEK 100 million ($12 million) soon, as it adds Spain and Italy to its existing global portfolio of Sweden, Finland, Britain and Germany.
Speaking to Boktugg, Bookbreat’s CEO Niclas Sandin said 600,000 subscribers will be an internal benchmark for potential for the foreseeable future, asserting the value of the overall Swedish audiobook market to be about SEK 500 million but that it could reach one billion ($127 million) within a few years.
On the the new competition from Bokus and Google Play, lately getting into audiobooks globally, Sandin told Boktugg,
I’m very positive. Since our start, I have talked about the importance of multiple players in a growing market that invest together to increase awareness.
But Sandin warns Bokus may face an uphill struggle.
The situation is a little different now also when there are three services that are properly established.
But Sandin is convinced streaming is the way forward (Bokus already is active in the audiobook retail sector).
Everything that adds more dynamism in terms of different models and more competition in the market is just good. On the other hand, my conviction is that the unlimited model will ultimately be leading.