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Entertainment

Naver Webtoon becomes industry's first to post over $2.5 mn for daily paid-content

Aug 07, 2020 (Gmt+09:00)

Naver Webtoon has become the industry's first to post over 3 billion won ($2.5 million) for daily paid-content as of August 2, breaking its own record from just 12 months ago when it had posted 2 billion won.

On July 30, Naver Webtoon announced that its second-quarter global transactions posted a 57% year-on-year growth. There was a noticeable surge in the US where monthly paid-users doubled thanks to increased loyal users who contributed to almost a 50% increase in the paid amount.

Naver Webtoon under Korea's platform giant Naver services a wide range of mobile and digital comics to the global audience.

The global monthly active user (MAU) in July also exceeded 65 million, boasting over 1 million user growth in just two months. In May, Naver Webtoon posted a monthly total of 70 billion won for global paid-content.

Naver Webtoon’s success stems from its speedy content distribution across countries led by the platform's ecosystem which translates creators' local content into various languages for the global audience.

Among Korean webtoons, ‘True Beauty’, ‘Lookism’, and ‘Tower of God’ have gained great popularity in global markets including Japan, the US, Thailand, Indonesia, and more. Also, webtoons that are created from US-based creators such as ‘Lore Olympus’ and ‘Sub Zero’ have comfortably secured top rankings in European countries such as France and Spain.

On July 1, Naver Webtoon announced that it aims to post an annual 800 billion won in paid-content by the year-end. At this rate, the company is expected to hit the mark and even reach 1 trillion won sooner than expected.

Going forward, Naver Webtoon plans to reorganize its governance structure starting in the US to enhance synergy between global platforms and to further grow as a core platform stacked with a high-quality IP portfolio in the global content market.

In Korea, Naver’s paid-content platform Naver Series is also driving payments with its popular web novels ‘Omniscient Reader’s Point of View’, and ‘Remarried Empress’. Pushing forward, the beloved titles will be transformed into webtoons for global distribution which will help to build up the company's momentum.

Naver Series is a paid content platform that hosts over 65,000 novels and cartoon contents. The platform recommends customized content for users.

Naver Webtoon launched in 2004 and it has become a global success with numerous webtoon artists and authors gaining much traction and popularity on the platform. The company is planning to expand its IP business into other entertainment sectors including movies, games, publishing, and more.

 

Write to Joo-Wan Kim at kjwan@hankyung.com

Danbee Lee edited this article

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