Wirtualna Polska purchases a majority stake in Audioteka S.A

30 września 2022

Wirtualna Polska Media has become the majority shareholder of Audioteka S.A., one of the most recognizable and largest audiobook websites operating in Poland, Germany, the Czech Republic and Lithuania. WP now holds an approx. 60% stake in the company. The deal was worth PLN 95 million.

Wirtualna Polska is consistently building its position in subscription services. After its purchase of a 6.5% stake in Audioteka S.A. in 2021, WP’s shareholding has now grown, in accordance with prior announcements, to approx. 60%. The value of the deal was PLN 95 million.

"Audioteka is a superbly managed product in the rapidly growing category of audio services. Through this acquisition, we will diversify Wirtualna Polska Media’s revenues by adding yet another, in addition to WP Pilot, subscription service, which currently has 200,000 users. The deal follows another recent transaction, reflecting our commitment to boosting WP’s presence on foreign markets," says Jacek Świderski, CEO of Wirtualna Polska Holding S.A.

"We are again significantly reinforcing Wirtualna Polska’s grip on one of the key segments of our business. Global trends point to an increasing interest in audio content among digital consumers, which is why we have decided to seize the opportunity provided by Audioteka, both in Poland and in other European markets," says Adam Rogaliński, VP Corporate Development at Wirtualna Polska Holding S.A.

Audioteka S.A. is the leader of the Polish audiobook market, offering over 20,000 titles to its customers, both under a subscription model (Audioteka Club) and through retail sales (Audioteka Store). Audioteka’s competitive edge results from the development of its own content, including well-known blockbusters such as the Game of Thrones and Solaris.

"Our merger with a strong media group marks another milestone in Audioteka’s history. Working hand in hand with WP, we will endeavor to expand the range of our offering of audio services, continue to produce our own content and develop existing and new technologies, not only in Poland, but also internationally. I believe that the emergence of a strategic investor in our company will have favorable consequences for our users, employees and business partners," says Arek Seidler, CEO of Audioteka S.A.

Following the deal, Audioteka’s existing management team will continue to work for the company. In the coming years, the key pillars of the company’s business growth will include additional expenditures on the creation of its own content (including short productions), promotion of Audioteka’s subscription program together with other WP subscription services and intensification of marketing efforts both domestically and internationally.

In 2021, Audioteka generated nearly PLN 90 million in revenue with an EBITDA of over PLN 14 million.