KT Millie's library announced on the 12th that its revenue for the second quarter of this year reached 20.7 billion won, with an operating profit of 4.7 billion won. This represents an increase of 16% and 28%, respectively, compared to the same period last year. This marks the largest quarterly performance in its history since its establishment.
For the first half of this year, cumulative revenue reached 40.7 billion won and operating profit was 8.5 billion won. These figures reflect a year-on-year increase of 17% and 29%, respectively. In particular, since returning to operating profit in the second quarter of 2022, the company has maintained a growth trend for 13 consecutive quarters up to the second quarter of this year.
The company analyzed that the existing subscribers' "lock-in effect" and the influx of new subscribers drove the increase in performance. Following the announcement of a subscription fee increase in June, the active maintenance of long-term subscriptions by existing users and new sign-ups positively influenced the results.
Strengthening the service centered on the reading experience also contributed to the strong performance. The use of AI to lower the barriers to reading with the "artificial intelligence (AI) reading paradigm" service and the launch of "MilliePlace," which provides a reading environment without spatial constraints, led to an increase in subscribers.
Millie's library expanded its content area by launching a web novel service at the end of June. It designed a structure to allow users to consume various reading content within a single subscription model, thereby broadening their choices. In the future, the company plans to enhance its competitiveness by launching a webtoon service and investing in story content and information technology (IT).