Science of Hitting

Storytel is a Swedish book streaming service which consists of two divisions, Streaming and Print Publishing. STORY is currently operating in 11 countries and the company is expanding heavily. The business has a large economic moat because the company buys up local publishers and then record all their books into audiobooks in the local language and make them available to their subscribers on their service. Buying the publishers makes it significantly harder for competitors to launch a similar product in the countries that Storytel operates in as competitors will not be able to get the rights to the content. As Storytel was very early in the book streaming business they already have a strong foothold on European markets shown by their dominant market share (80% for example in the Netherlands) and that with the exception of India, Amazon's Audible is yet to launch in a single country where Storytel is operating.  The book publishing industry has had 0 to negative growth f...