Nextory acquires Spain's largest local streaming service
The book app Nextory, one of the fastest growing services for digital books in Europe, now acquires the Spanish book streaming app Nubico. The acquisition builds the foundation for Nextory's upcoming launch in Spain in 2021.
Spain will be the ninth market for the book app and the launch will take place before the end of the year. The streaming app Nubico, which Nextory has owned since June 1, was previously owned by the leading publishing group Grupo Planeta and the global telecom operator Telefónica.
Nextory will offer subscriptions with unlimited access to a unique and broad catalogue of more than 300,000 audiobooks and e-books in the Spanish market. By acquiring Nubico, Nextory also maintains strong, strategic alliances with both Grupo Planeta and Telefónica.
– Nextory's plan is to continue to expand internationally and maintain our fantastic growth to eventually become one of the largest players in the book industry worldwide. This merger really puts Nextory on the global map. It’s a great step for us that will deliver long-term value at the same time as we stay true to our mission to increase reading all over the world, says Shadi Bitar, CEO and founder at Nextory.
– We are excited about the acquisition. Planeta has experienced a healthy and steady growth at Nubico for the last five years. With Nextory managing the digital subscription service, Planeta’s catalogue will reach even wider audiences and new territories, says Santos Palazzi, Head of Mass Market & Digital at Grupo Planeta.
– The joint partnership between Movistar and Nubico has been very fruitful since 2013. Our customers have been offered a reading service with the best quality-price ratio, and we will enhance the value proposition through Nextory for many years to come. Movistar and Nextory will keep on providing a strong and attractive catalogue of e-books and audiobooks, says Francisco Borja de Nicolás, Non Convergent and New Businesses Director at Movistar, Telefónica España.
Since the start in Sweden in 2015, Nextory has grown at a rapid pace. Over the past three years, the app has also been successfully launched in Finland, Denmark, Germany, Austria, Switzerland, the Netherlands and Norway.
The parties above have agreed not to disclose the acquisition price for Nubico.