[Special Stock] Millie's Library, Rapidly Growing Subscribers... "Growth Potential ↑"

Millie’s Library is showing strong performance. The rapid increase in subscribers appears to have influenced expectations of continued improvement in earnings.

As of 11:13 AM on the 29th, Millie’s Library was trading at 18,540 KRW, up 700 KRW (3.92%) compared to the previous trading day.

Choi Jae-ho, a researcher at Hana Securities, stated, "Millie’s Library holds about 63% market share in the reading platform market, ranking first." He added, "Its ability to secure content and bestsellers based on this is overwhelming compared to competitors."

He noted, "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 1Q24." He forecasted, "It is expected to easily surpass 1 million subscribers by the end of this year."

Hana Securities expects Millie’s Library to record sales of 17 billion KRW and operating profit of 2.8 billion KRW in the first quarter, representing increases of 31.9% and 40.0% respectively compared to the same period last year. He emphasized, "The steep increase in new subscribers is expected to drive growth," adding, "As of June 2023, among the 14.37 million potential users of reading platforms, only about 1 million are current users, resulting in a penetration rate of approximately 7%, indicating high growth potential."