Bonnier Books Acquires Nextory in Swedish Audiobook Market

Bonnier Books announced on Tuesday, September 1, that it has entered an agreement to acquire the audiobook subscription service Nextory. The all-cash deal, awaiting approval from the Swedish Competition Authority, would merge two of Sweden's leading domestic streaming platforms.

Sweden's book market was worth more than SEK 5.5 billion (US$574 million) in 2025, according to the Swedish Publishers Association and the Swedish Booksellers Association. Audiobooks represented roughly 29.7% of that total, or about SEK 1.63 billion (US$170 million). The digital book market in Sweden is dominated by three subscription services: Storytel, BookBeat, and Nextory.

The Competitive Landscape

Storytel is widely considered the market leader, with industry estimates placing its share at least half of the Swedish audiobook market. BookBeat and Nextory have competed for second place. The acquisition comes as international competitors enter Sweden. Spotify began offering audiobooks there in November 2025, and Audible has announced plans to launch a localized Swedish store, reportedly expected this fall.

Nextory's founders, Shadi Bitar and Ninos Malki, built the company with a catalogue of over 1.4 million titles. The platform focused on retail and distribution rather than owning publishing houses. This contrasts with both Bonnier, which owns a major publishing group, and Storytel, which has acquired publishers like Norstedts.

International Expansion and Strategy

Nextory expanded internationally through acquisitions. In 2021, it bought the Spanish service Nubico and the French platform Youboox. These moves gave it established subscriber bases and local catalogue relationships in two major European markets.

Shadi Bitar, Nextory's CEO, commented on the sale. "We have built Nextory into a significant and profitable business," he said. "Together, we create a highly competitive combination with strong prospects for continued growth in a market where scale is becoming increasingly important."

Håkan Rudels, CEO of Bonnier Books, framed the deal as a response to market changes. "It is more important than ever to have audiobook services that are fully focused on authors, readers, and listeners-particularly at a time characterized by AI-generated content and international players establishing themselves in our various markets," he said.

Market Implications and Rationale

For Nextory, the sale resolves a strategic challenge. The company faced the choice of raising more capital to compete or finding a buyer to provide greater scale. Its model as a retailer, without proprietary publishing assets, made this challenge more acute.

Bonnier's rationale includes gaining Nextory's established scale in France and Spain for BookBeat. The acquisition may also be defensive, preventing Nextory from being bought by a competitor like Audible, Spotify, or a private equity group. If approved, the transaction could reshape Sweden's audiobook market and alter competition in other European countries.