WEBTOON Entertainment (Nasdaq: WBTN) – Leading Global Webtoon Platform | Company Profile
WEBTOON Entertainment is a global digital content platform headquartered in Los Angeles, California, U.S. Specializing in operating a webtoon creation and sharing platform, it connects over 170 million monthly active users and 24 million creators worldwide, with a broad presence in more than 150 countries/regions. It serves as an innovator and market leader in the webtoon industry.
I. Company Overview
Founded in 2005, WEBTOON Entertainment originated as the webtoon business division of South Korea’s Naver Corporation. It was spun off as an independent entity and listed on the Nasdaq (stock code: WBTN) in 2024, with its headquarters now in Los Angeles, California, U.S., and a full-time workforce of 1,854 employees. Through its Webtoon platform, the company provides mobile-friendly vertical-scrolling comic content, covering free reading, paid subscriptions, and IP derivative development, etc., and has become one of the largest webtoon communities globally.
Official Website: https://www.webtoons.com/en/
II. Core Business Segments
- Content Platform Operations
- The core product, the Webtoon platform, is divided into "Originals" (officially contracted original content) and "Canvas" (user self-publishing community). The former offers paid subscriptions and ad revenue sharing, while the latter incentivizes creators through page views.
- The platform’s content covers multiple categories such as comics, novels, and animations, supports 15 languages, and is accessible via web browsers and iOS/Android apps.
- IP Derivative Development
- Collaborates with renowned IPs such as DC, Marvel, and BTS’ agency Hybe to develop exclusive content, such as *Eternals: The 500 Year War* and *7Fates: Chakho*.
- Subsidiary Wattpad Webtoon Studios focuses on film, television, and animation adaptations, with over 300 development projects, including Netflix’s *Lookism* and Disney+’s *Connect*.
- Creator Ecosystem Services
- Provides creation tools, traffic support, and revenue-sharing systems. From 2020 to 2021, it paid over $27 million to English-speaking creators, and top creators in South Korea can earn up to $9 million annually.
III. Technical and Business Advantages
- Technological Innovation: Pioneered the vertical-scrolling reading format, adapted to mobile fragmented scenarios, with users spending over 30 minutes daily on average.
- Global Presence: Covers over 150 countries/regions, with 12.5 million monthly active users in the U.S., accounting for over 60% of the local market share.
- Creator Economy Model: Incentivizes a sustainable creator ecosystem through diversified revenue streams including ad revenue sharing (PPS program), paid subscriptions, and IP licensing, with related revenues reaching $1.69 billion in 2022.
- Data-Driven Content: Precise content recommendations based on user behavior analysis, with over 125 billion annual views on the platform and industry-leading user retention rates.
IV. Development History
| Year | Key Events |
|---|---|
| 2004 | South Korea’s Naver launched "Naver Webtoon," pioneering the vertical-scrolling reading mode for webtoons. |
| 2014 | Expanded globally under the name "Line Webtoon," entering North American and Southeast Asian markets. |
| 2017 | Became an independent division of Naver, launched a paid content model, with revenue increasing by 23.2 billion KRW year-on-year. |
| 2021 | Acquired Wattpad and merged to form Wattpad Webtoon Studios, focusing on full IP industry chain development. |
| 2024 | Listed on Nasdaq (stock code: WBTN), raised $315 million in funds, with a market capitalization of $2.6 billion. |
V. Financial Data (as of March 31, 2024)
- Annual Revenue: $1.3 billion
- Monthly Active Users: 170 million (global), 12.5 million (U.S.)
- Number of Creators: 24 million
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