Several weeks ago, we reported on Fabula, a Finnish and Latvian subscription service for books, but right next door, in Sweden,their counterpart Nextory (formerly called E2GO) has made recent headlines by raising several million dollars in a bid to conquer their domestic market.
Nextory, which only makes their website available in Swedish, targets readers with a service that allows them to access e-books or audiobooks for a fee of approximately $23 per month (after the 14-day free trial). As you would expect from a platform like this, the service is available through free apps for phones or tablets (Android and iOS) and can be accessed either online or offline.
I found that it is possible to search for titles up front and that clicking on one offers access to a description, reviews, and suggestions for other books from that author. If you do not have a particular title in mind, it is also possible to search through various genres, a list of recommended books, or through popular e-books and audiobooks.
Nextory tells me that thy launched in 2012 with a business model similar to Audible, but changed to an unlimited subscription service in 2013. What is also interesting is that they note that the e-book market in Sweden comprises only around 1% of the total book market, as opposed to the United States, where 50% are e-books at this point. So, in theory, they are getting in before the e-book market takes off to levels that we see elsewhere.
They have declined to reveal how many customers they have, but say that they are currently concentrating on dominating the Swedish market, with plans to eventually expand abroad. Aiding them in that effort is the approximately $2.3 million that they have just raised from Industrifonden. The current owners of Nextory are also participating in the round.