A few months ago, our CEO Giacomo D'Angelo, affirmed that StreetLib is a fiercely Italian company with great international ambitions. We have never hidden our global spirit and you can see it in our catalog. In 2021, the titles distributed through our Italian-language platform make up about 28% of the total in our native Italian; titles in English make up 25%, and those in German 19%. In addition, our distribution network has more than 70 retail channels, subscription apps, mobile reading apps, and digital libraries all around the globe.
One of the priorities for 2022 is to further expand our distribution network with new international partnerships. To make this a reality, a few months ago we started a new project that has an international impact in an important and dynamic European market: Poland! Today, we are happy to announce that the new Polish store Legimi will be added to our distribution network.
Legimi's competitive advantages
Legimi is a leader and a pioneer in the Polish ebook market. It was launched in 2012 and was the first in Poland to offer users access to a digital library using a streaming model. Legimi's catalog in Poland contains over 75,000 titles from nearly 700 publishers and is connected to over 3,000 libraries. Legimi offers readers the ability to purchase digital books a-la-carte as well as different subscription solutions: with a page limit (1500, 1000, or 300 pages per month), or without any limit, or with a one or two-year contract. For the latter, the Polish bookstore has created an option with an e-reader included in the yearly price, at the symbolic cost of 1 Polish Złoty – or about 20 cents!
Currently, nearly 120,000 customers use an individual subscription - at the end of the 4th quarter of 2020, the number of subscribers increased by 66% y/y in 2021 by 43% y/y. The rest of the customers, about 50,000 people, come from libraries and the B2B segment.
A subscription model allows systematic high-income predictability for Publishers and is renewed by 90% of end-users each month. As a leader in the e-book market in Poland, Legimi has the largest database of e-books in the fiction genre. Additionally, users have the ability to use Legimi on e-readers, including Kindle and Pocketbook, as well as on smartphones and computers. Users have secure and encrypted access to publications through the Legimi application, which gives 100% content security. Legimi also launched a unique solution called synchrobooks, which gives the reader the ability to switch between ebook and audiobook, if they wish. Since 2016, Legimi has also been operating in the German market and has invested more heavily in the growth of its German subsidiary Readfy GmbH, which helps to fund its technological development, among other things. Readfy is the market-leading e-reading application using the freemium model. It has contracts with over 300 publishers, offering 180,000 titles in its basic model. The service has 400,000 registered users, and the application regularly shows 60,000 users per month.
Legimi has strong marketing potential. Their newsletter base has reached 280,000 customers as well as an additional 200,000 customers through mobile operators, who will regularly receive push notifications. Promoted books are displayed on the website and in the application, where they can have up to 150,000 hits per week.
Every year, Legimi takes part in campaigns called "Free e-book", which run in partnership with Allegro, InPost, Multisport, CCC, and Pekao - some of the biggest companies in Poland. For book promotion, the Polish store also uses video channels with live talks and dedicated broadcasts, and the library network with dedicated newsletters for readers and librarians.