Strong summer for Nextory - increased revenues by 40 percent during the third quarter
The book streaming service Nextory has now left another strong quarter behind. The company's total revenues increased by 40 percent during the third quarter compared to the same period last year. Thereby, Nextory continues its strong growth journey and has had the best summer ever, both in terms of new users and customer loyalty.
Nextory’s growth during the third quarter of 2022 has been strong in all markets, and the company is now also profitable in the Nordic region. Going forward, Nextory has an increased focus on profitability and expects to achieve profitability at group level already at the end of the year.
– July and August are usually our peak season, and the summer of 2022 was no exception. We’re proud to have reached several new records during this quarter. We have never had so many customers signing up before, and the customer loyalty has been stronger than ever. Now we’re focusing on a continued stable growth and to become profitable on a global level around New Year’s, says Shadi Bitar, CEO and Founder at Nextory.
Summary of Q3:
- Revenues increased by 40 percent in Q3 2022 compared to Q3 2021.
- Best summer ever in terms of number of new users and customer loyalty.
- Nextory's catalog now contains more than 1 million titles (books and magazines).
Head of PR
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 1 million titles and the app is available in ten markets around Europe, with headquarters in Stockholm. Read more at www.nextory.com.