BrainContents Webtoon Subsidiary Achieves Record-High First Quarter Performance

Expect Explosive Sales Growth with the Spread of Untact Consumption Culture

[Asia Economy Reporter Park Hyungsoo] Sales of Fingerstory, a subsidiary of content platform company Brain Contents, are rapidly increasing. Brain Contents stated that Fingerstory's sales in the first quarter of this year nearly reached 3 billion KRW and predicted that this year's performance will improve.

Brain Contents announced on the 29th that due to the impact of the novel coronavirus infection (COVID-19), the untact (non-face-to-face) culture is spreading, leading to increased consumption of webtoon and web novel content.

Fingerstory, established in March 2018, is a webtoon platform company that services over 10,000 pieces of content including webtoons, web novels, and movies. Recently, as social distancing has become normalized and untact consumption culture has rapidly taken root across society due to the COVID-19 situation, Fingerstory's sales have increased. An official explained, "The time spent at home has lengthened, creating an environment where snack culture content is consumed on smartphones," adding, "Webtoon sales have been positively affected."

Brain Contents has various subsidiaries in different fields, including Global Tax Free, the number one tax refund company in Korea; Swanicoco, a natural cosmetics subsidiary; and Netcruz, a log security solution company. Although Global Tax Free is expected to experience stagnant performance this year due to the COVID-19 situation, it is anticipated that Fingerstory will compensate for this. Fingerstory recorded sales close to 3 billion KRW in the first quarter, an increase of about 183% compared to the same period last year.

Fingerstory, inspired by the webtoon platform Mutoon which supplies male-oriented content, plans to additionally launch a webtoon platform favored by women. Beta testing is underway. With the expansion of untact consumption culture and the addition of new platforms, Fingerstory's sales this year are expected to surpass last year's separate basis sales of its parent company Brain Contents, which amounted to 16.9 billion KRW.

Moon Jongwook, CEO of Brain Contents, said, "The industrial structure is rapidly changing due to the COVID-19 situation," adding, "As the socio-economic structure swiftly transitions to non-face-to-face, industries related to untact will grow sharply."

He continued, "Based on abundant cash liquidity, we will also consider investments in future growth industries such as untact companies based on online platforms like Fingerstory."

This content was produced with the assistance of AI translation services.