Millie's Library Hits ₩72.6 Billion Sales, Reports Annual Results

Reading platform Millie's Library is drawing market attention by recording robust growth in 2023. Last year's annual revenue surged by 28.3% year-on-year to 72.6 billion won, and operating profit also increased by 5.8% to 11 billion won. Notably, Q4 revenue grew by 22% to 19.4 billion won, recording an operating profit of 1.3 billion won, thereby supporting the annual performance. The main driver behind this strong performance is the steadily increasing number of subscribers. Millie's Library's cumulative subscribers increased by 20.6% from 7.1 million at the end of 2022 to 8.56 million at the end of 2023, solidifying its position in the reading market. The company diversified its content, including audiobooks, docent books, and chat books, in line with the "text-hip" trend, and actively attracted new users by introducing user-friendly features such as 'Millie Pairing' and 'Note-taking Mode'. Above all, its focus on expanding the reading experience through the integration of artificial intelligence (AI) technology stands out. It introduced 'AI Smart Keywords' based on reviews, 'AI Persona Chatbot' for reading while conversing with a persona chatbot, and an upgraded 'AI TTS'. Recently, it launched the 'AI Dokfarming' beta service, which allows users to discover and record books with AI, continuing its innovation. It also solidified its image as an AI reading company by confirming its participation in 'MWC 2025' for the first time as a reading platform, showcasing its capabilities externally. Millie's Library plans to focus on new business expansion and content enhancement this year to secure sustainable growth drivers, and to strengthen its IR activities by expanding communication with the market and investors.