[Click eStock] "Millie's Library, Strong Earnings Expected Due to Rapid Subscriber Growth"

Hana Securities analyzed on the 29th that Millie's Library is expected to perform well as the number of subscribers is rapidly increasing.

Choi Jae-ho, a researcher at Hana Securities, stated in a report on the same day, “As of June last year, out of 14.37 million potential users of the reading platform, the current number of users is about 1 million, resulting in a penetration rate of only about 7%, indicating high growth potential.” He added, “The number of new subscribers is rapidly increasing, estimated at 270,000 in 2020 → 390,000 in 2021 → 520,000 in 2022 → 780,000 in 2023 → 850,000 in the first quarter of this year, and it is expected to easily surpass 1 million by the end of this year.”

Researcher Choi also said, “Not only quantitative growth through new content and subscriber acquisition, but this year, the launch of a new web novel platform and the advancement of AI services are expected to qualitatively enhance the overall platform.” He analyzed, “Therefore, the inflow of new customers and the lock-in effect of highly loyal customers are expected to continue.”

He added, “In conclusion, the key performance indicators for earnings growth, such as the paid conversion rate (about 39%) and the re-subscription rate (about 88%), are also expected to maintain a high level with gradual increases.”