D&C Media Reports Q1 Revenue of 16.7 Billion KRW... Highest Quarterly Record

[Asia Economy Reporter Hyungsoo Park] D&C Media achieved its highest quarterly performance ever, driven by the launch of new web novel and webtoon titles.

D&C Media, a web novel and webtoon content provider, announced on the 16th that it recorded sales of 16.7 billion KRW and operating profit of 4 billion KRW in the first quarter of this year based on consolidated financial statements.

Compared to the same period last year, sales increased by 31.9% and operating profit rose by 50.3%. Both sales and operating profit set new records for the highest quarterly performance. Net profit for the period was 3.5 billion KRW, up 52.7% year-on-year.

The company explained that expanding exports through the launch of new web novels and webtoons led to solid growth.

D&C Media’s novel comics "Ak-nyeo Maker," released in January this year, and "I Will Become the Head of the Family in This Life," launched in March through collaboration with The Ant, a webtoon specialized studio, have received positive responses. The novel comic "The Villain’s Ending is Death Only," released in Japan and North America at the end of last year, also contributed to improving performance.

D&C Media plans to release more than 10 new webtoon titles this year. The proportion of webtoons in D&C Media’s total sales increased from 31% in 2019 to 49% in 2020. In the first quarter of this year, it expanded to 57%. The company expects sales growth to accelerate further as subscribers accumulate through new releases and continuous serialization.

Growth driven by overseas market expansion is also anticipated. Currently, D&C Media serializes a total of 30 webtoons in 12 countries including China, Japan, North America, Southeast Asia (4 countries), and France. The company also plans to expand serialization platforms and enter new regions such as Europe and South America. The share of overseas exports in total sales increased from 11% in 2019 to 28% in 2020, and to 35% in the first quarter of 2021. According to the company, this trend is expected to continue this year.

Shin Hyun-ho, CEO of D&C Media, said, "Following last year, the first quarter of this year was a favorable phase for non-face-to-face businesses due to COVID-19, resulting in high growth rates. We will secure long-term growth drivers and continue sustainable growth."