WEBTOON Entertainment Surges 49.6% Following Disney comics Platform Partnership
Los Angeles, CA – September 20, 2024 – WEBTOON Entertainment (WBTN) shares jumped 49.6% today following the proclamation of a landmark partnership with Disney to launch a dedicated comics platform within Disney+. The deal will integrate WEBTOON’s extensive library of digital comics – including popular titles like tower of god and Lore Olympus – directly into disney’s streaming service, expanding WEBTOON’s reach to Disney+’s 150.2 million global subscribers as of Q2 2024.
This collaboration marks a important step in the mainstreaming of webcomics and represents a major revenue opportunity for WEBTOON. The partnership aims to attract a younger demographic to Disney+,while simultaneously providing WEBTOON creators with increased visibility and monetization avenues. Analysts suggest the deal validates WEBTOON’s business model and positions the company for continued growth in the rapidly expanding digital comics market.
WEBTOON, originally launched in South Korea as Naver Webtoon, pioneered the mobile comics format and has become a global leader in the space. The company boasts over 87 million monthly active users and a vast catalog of content created by over 228,000 creators. The platform’s success lies in its unique scrolling format optimized for mobile devices and its focus on diverse genres and creator-owned content.
Details of the financial terms of the agreement were not disclosed, but WEBTOON stated the partnership is expected to contribute positively to its revenue in the coming quarters. The platform launch within Disney+ is slated for early 2025, with a phased rollout of content and features. Investors are closely watching to see how the integration impacts both companies’ subscriber numbers and revenue streams.
