Even a small market like Denmark – population 5.7 million – can sustain a number of book subscription services. And that should excite publishers everywhere as digital books subscription options evolve around the world.
Formed in 2020 by a group of Danish publishers wanting to maintain some control over the Danish digital books market, Chapter marks its second year with an unexpected internal consolidation as competition from “international” (meaning Swedish) competitors heats up.
A partnership agreement with telco Telmore helped establish Chapter’s credentials as a worthy rival to the Swedish services, but the need to present a strong public face against the likes of Storytel proved too much for a management team consisting the three founding publishers, Gyldendal, Gads Forlag and Modtryk.
So now Gyldendal is solely responsible for the Chapter operation.
Chapter was founded in 2020 as the Danish publishers’ alternative to foreign-owned companies entering the Danish market.
Gyldendal’s CEO Morten Hesseldahl, who led the foundation of Chapter, said in a press release:
We have been – and are – very satisfied with the collaboration with Gads Forlak and Modtryk. Therefore, we will continue a close collaboration around the project. The sharpened market situation has contributed to the importance of operating and developing Chapter, and now we in Gyldendal want to further strengthen our strategic position in the market and to a greater extent to integrate our channels towards the end users.
For Gads Forlag, CEO Mette Jokumsen said:
It takes a lot of capital to create a strong streaming service with many subscribers. We have chosen to use our efforts to develop strong fiction and non-fiction titles, which will also be to the delight and benefit of Chapter. We wish Gyldendal all the best of luck with Chapter in the future.
Malene Schioldan, CEO of Modtryk, added:
We have now succeeded in getting a Danish-owned streaming service launched in a fiercely competitive market characterized by international players. It has been a large joint project, and we at Modtryk are completely satisfied with it. As a minority owner, Modtryk has now wanted to sell its shares in Chapter, but we have been very happy with the collaboration with Gads Forlag and Gyldendal, and we hope and believe that Gyldendal can maintain Chapter as a well-functioning streaming service and a gathering place for readers and listeners of all kinds.
Via Denmark’s Bogmarkedet.
Bogmarkedet’s report offers no hints as to whether this was a simple matter of good business consolidation or a survival move in the face of increasing competition.
But it does show that even a small market like Denmark – population 5.7 million – can sustain a number of book subscription services. And that should excite publishers everywhere as digital books subscription options evolve around the world.