Press release -
Strong third quarter for Nextory - increased paying users with 68 percent
The book app Nextory reports an increase in the number of paying users by 68 percent during the third quarter of the year compared with the same period last year. Thereby, Nextory continues the strong growth journey and breaks records in both number of new subscribers and customer loyalty.
Earlier this year, Nextory acquired Spain's largest local book service, which in just a few months was transferred to Nextory's technical platform. In early August, Nextory launched with great success in Spain. The Nextory app is now available in nine markets around Europe and expansion in more markets awaits in the coming year.
– During the third quarter of the year, we broke a new record in the number of new users during one quarter. We’ve also seen higher customer loyalty than ever before. It's mainly because we’ve managed to maintain momentum in existing markets while the growth has picked up speed in our newest markets Norway and Spain. The last quarter of the year will be an exciting phase for us as we’ll invest in further expansion abroad and also test a number of new, exciting marketing activities in our various markets, says Shadi Bitar, CEO and founder at Nextory.
Summary of Q3:
- Paying users increased by 68 percent during Q3 2021.
- The company's best 3 months ever in terms of growth and number of new users.
- Launch in Spain which has been one of the most successful so far for Nextory.
Nextory is one of Europe's largest streaming services for audiobooks and e-books. The app was founded in 2015 by the serial entrepreneurs Shadi Bitar and Ninos Malki. Since then, the company has developed into a fast-growing platform that enables unlimited distribution of stories and knowledge in various digital formats. Together with the subscribers, Nextory shares a great passion for literature of all kinds and strives to be an independent and natural place where everyone can easily find their next stories. This goes hand in hand with the vision to increase reading around the world to enrich people's lives and thereby contribute to increased well-being, personal development and strengthened democracy. Today, Nextory's catalog contains over 750,000 titles and the app is available in nine markets around Europe, with headquarters in Stockholm. Read more at www.nextory.com.