In 2020, Poles bought a total of approx. 100 million hard-copy books. At the same time, the e-book and audiobook sector is gaining popularity. Legimi ended the year with 66 percent customers more y/y and officially goes public.
After the epidemic restrictions were restored at the end of 2020, the interest in books, e-books, and audiobooks among Poles increased significantly. This is confirmed by the statistics of Legimi, the leader in subscription access to digital books in Poland. The number of customers, calculated as the sum of subscribers and corporate and library customers, at the end of the fourth quarter of 2020 has already exceeded the value of 120,000 and the number of subscribers reached the level of nearly 86,000 active accounts.
“In the fourth quarter of 2020, when Poles faced the second wave of the pandemic, we noticed a significant increase in interest in digital entertainment that you can use without leaving your home,” Mikołaj Małaczyński, President of the Management Board and co-founder of Legimi, said.
“As experts point out, the e-book market in Poland grows on average by approx. 50 percent yearly. At Legimi, we have an average growth rate of more than 60 percent,” he added.
Poles not only use e-books more often but also have a strong liking for subscription models. The latest data show that every second adult (49 percent) uses subscription services. Currently, companies providing services in the subscription model are in the most stable position, which is why Legimi has been conducting activities aimed at debut on the NewConnect market for several months. The listing will take place on April 14, 2021.
“The purpose of introducing the company's shares to trading on the alternative market is to build stable investor relations and systematically build the image of a reliable, stable, mature, and well-managed company. In the long term, we want to translate these features into unlocking additional funding opportunities for faster development in the coming years,” Mikołaj Małaczyński added.