Ridi Surpasses 200 Billion KRW in Sales Last Year... Record-Breaking Performance

[Asia Economy Reporter Seomideum] Content platform company Ridi announced on the 14th that it demonstrated solid growth by achieving record-high sales last year.

Ridi recorded consolidated sales of 203.7 billion KRW in 2021, leading to a 30.9% growth compared to the previous year. This performance is interpreted as a result of broadly expanding Ridi's owned content IP to create synergy while also achieving meaningful growth in the global market.

Last year, Ridi focused on discovering high-quality content IP and expanding it into webtoons, OSTs, and video content. In fact, Ridi consecutively released webtoon adaptations of popular web novels such as "Please Endure, Grand Duke" and "I Became the Villain's Dragon Keeper," driving sales growth by boosting both the webtoons and the original web novels.

The global webtoon subscription service "Manta" has also continued its growth by ranking first in the comic app category on the Google Play Store in 16 countries across North America, Europe, and Asia just over a year after its launch. In particular, Ridi's mega-hit work "Under the Oak Tree" was released as a global webtoon, demonstrating its strength in building a global fandom beyond Korea.

The global fandom of "Under the Oak Tree" extended to the original web novel as well. Recently, as the English version of the "Under the Oak Tree" web novel was published, it topped the romance fantasy category on Amazon US and ranked first in five countries, reflecting its popularity. However, due to bold investments in global local marketing for "Manta" and large-scale talent recruitment, operating profit turned to a deficit.

Ridi has completed preparations to leap forward as a global content company this year. Having attracted investments worth 120 billion KRW from GIC and others in February, becoming the first content platform startup to achieve unicorn status, Ridi plans to focus investments on discovering and spreading competitive content.

Baek Gisik, CEO of Ridi, said, "Last year, Ridi undertook various attempts and bold investments to expand its content business and strengthen global business competitiveness," adding, "This year, we will focus our business capabilities on discovering great works that can represent Ridi and establishing ourselves as a global content company beyond Korea."