Korea's reading platform KT Millie's library (hereinafter Millie's library) posted a record-high revenue last year.
Millie's library disclosed on the 13th that revenue on a consolidation basis last year was 88.2 billion won, up 21% from a year earlier. Operating profit rose 31% to 14.4 billion won. After turning a profit in 2022, it has maintained profitability for four consecutive years.
Expansion of partnership-customer transactions (B2B2C) drove performance growth. Millie's library signed a membership benefit partnership with SK Telecom in June last year, and is providing services to customers of all three domestic telecom operators. The company said that as new subscribers increased through telecom partnerships, it contributed to revenue growth.
A strategy to diversify content is also cited as a factor that lifted performance. Millie's library unveiled the new service "Milli Story" in June last year and sequentially launched web novel and webtoon services. According to the company, subscribers using Milli Story last year accounted for about 10% of all subscribers. Millie's library said, "We expanded our content base from general books to genres and built a structure that allows consumption 'separately yet together' within a single subscription model."
Meanwhile, Millie's library will pay a cash dividend for the first time since its founding. The company held a board meeting on the 12th and resolved to pay 550 won per common share as the 2025 settlement of account dividend. The record date for the dividend is Feb. 28.