"AI-Driven Diverse Reading Succeeds"... Millie's Library Reports 11 Billion KRW Operating Profit Last Year

Sales Reach 72.6 Billion KRW, Up 28%
Operating Profit Hits 11 Billion KRW, Up 5.8%
AI-Powered Reading Experience Expands, Steady Subscriber Growth

Reading platform Millieosjae announced on the 21st that it achieved annual sales of 72.6 billion KRW (based on K-IFRS) and an operating profit of 11 billion KRW last year, increasing by 28.3% and 5.8% respectively compared to the previous year.

Sales in the fourth quarter of last year were 19.4 billion KRW, up 22% (15.9 billion KRW) from the same period last year. Operating profit recorded 1.3 billion KRW.

According to Millieosjae, cumulative subscribers have steadily increased. The cumulative number of subscribers grew by 20.6%, from 7.1 million at the end of 2023 to 8.56 million at the end of last year. This growth is analyzed to be effective due to the text-heap craze combined with the release of various content such as audiobooks, docent books, and chat books. Last year’s attempts to enhance subscriber convenience, such as ‘Millie Pairing’ and ‘Note-taking Mode,’ also appear to have had a positive effect.

In particular, the company is focusing on expanding the reading experience by integrating artificial intelligence (AI) technology. Currently, users can utilize ‘AI Smart Keyword,’ which summarizes the core content of books based on reviews written by subscribers on book information; ‘AI Persona Chatbot,’ which allows reading books through conversations with a persona chatbot; and ‘AI TTS,’ an upgraded version of the existing Text-To-Speech (TTS). Recently, they beta-launched ‘AI Dokpaming,’ an interactive reading service that discovers, reads, and records books together with AI.

A Millieosjae official stated, “This year, we have various new business and content expansion plans and will focus on securing continuous growth momentum,” adding, “We plan to further strengthen IR by expanding communication channels with the market and investors.”

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