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Webtoon

Type of site	Webtoon platform
Available in	Multilingual
Traded as	Nasdaq: WBTN
Founded	2004 Original, 2014 English, 2017 Company
Owner	Naver Corporation (66.8%) LY Corporation (33.3%)
Created by	JunKoo Kim
Parent	Webtoon Entertainment
URL	Korean website English website
Commercial	Yes
Registration	Optional
Launched	2004 Korean 2013 Japanese (Line Manga launched) 2014 English, Thai, Mandarin, Cantonese 2015 Indonesian 2019 Spanish, French
Current status	Active

WEBTOON (stylized in all caps) is an American-South Korean webtoon platform launched in 2004 by Naver Corporation, providing hosting for webtoons and compact digital comics. The platform, controlled by Naver and the Naver-SoftBank Group joint venture LY Corporation through a Delaware-domiciled, Los Angeles, California-headquartered holding company WEBTOON Entertainment Inc., is free and can be found both on the web at Webtoons.com and on mobile devices available for both Android and iOS.

The platform first launched in South Korea as Naver Webtoon and then globally as Line Webtoon in July 2014, as the Naver brand is not well known outside of South Korea and some of its services are also not available outside of the country. The service gained a large amount of traction during the late 2000s and early 2010s. In 2016, Naver's webtoon service entered the Japanese market as XOY and the Chinese market as Dongman Manhua. On December 18, 2018, Naver closed XOY and migrated all of its translated and original webtoons to Line Manga, its manga service that offers licensed manga. In 2019, Line Webtoon was changed to Webtoon in English; Spanish and French versions were launched.

The platform partners with creators to publish original content under the Webtoon Originals banner and hosts a number of other series on its self-publishing site, Canvas. Line Webtoon comics can be discovered through the "daily system" function, along with being read and downloaded for free on computers and both iOS and Android devices. In November 2020, Webtoon established a new subsidiary called Webtoon Studios for the purpose of licensing English-language properties. In August 2022, it was reported that Wattpad Webtoon studios would expand with a new animation division.

History

Webtoons are a sub-menu of the gate companies that began with South Korean portal services Daum and Naver. Posting comic content for free caused the $3 billion South Korean book and comic industry to rapidly collapse. The Naver site started in 1999 by merging with Hangame, but it initially had a muted response as a hidden menu. Webtoon administrators paid comic artists only 50,000 Korean Won ($50) as their monthly wage, a highly unscrupulous tactic. In the 1990s, Korean artists claimed that even with a monthly income of 6 million Korean Won ($6,000), it was challenging to do weekly serials. With exorbitant royalties, professional artists experienced mental shock.

In 2013, Webtoon launched Page Profit Share (PPS), which offered the artist a share of the advertising revenue for the first time. After the purchase of Wattpad in early 2021 by Naver Corporation, both companies started to work together under Naver's content division. Webtoon now features webcomics such as Lore Olympus, UnOrdinary, True Beauty, Space Boy, and Gourmet Hound.

South Korea had long prohibited cultural exchange with Japan due to the traumatic history of Japanese colonial rule. In 1998, official cultural exchanges were established following South Korea's financial crisis in 1997, initiated by the IMF. Many unemployed individuals used their severance pay to start comic rental shops, and the government issued excessive licenses, leading to saturation.

Publishers expanded their comic titles during this period, and comic book sales flourished at the end of the century. However, the excessive rental shops returned comics bought on credit within a month, causing publishers to face economic hardship. As digital comic companies started emerging, they created webzines, such as N4 and Comics Today, but these businesses ultimately failed due to unethical behavior by their CEOs.

Portal sites gathered a large online audience by offering comics as bait, and Daum initially led the webtoon market. Naver, taking advantage of the unexpected success of comics, placed webtoons in premium advertising spaces worth 300 million Korean won on its portal surface. This significantly increased their traffic and allowed Naver to surpass Daum. The key to their success in the portal market was comics.

Webtoon Entertainment, the serial comics platform, was founded in South Korea in 2005 by CEO Junkoo Kim, Naver. Since its launch in 2013, WEBTOON has become the most popular mobile app, catering to young adults who enjoy reading comics and webcomic content. Similar webcomics can be found on these platforms, including Tapas, Pocket Comic, and others. This platform is particularly successful because creators and comic artists use it to publish their stories, and it's simple to set up. Ensure it adheres to Webtoon's guidelines. It is possible to create a story that they want to express.

In 2004, they already had a market share of 80%. Kim Jun-gu, who introduced the "Bizarre Comics" genre, played a crucial role in Naver's rapid growth. In 2008, Naver introduced ads on webtoons, but they did not fairly share the ad revenue with artists. Unfair contracts accumulated, and in 2010, Nate exposed Daum's unfair treatment of comic artists, revealing that they earned less than 1 million Korean Won ($700) per month. The unfair practices of Naver remained undisclosed.

In 2012, Naver and Daum did not participate in the legal crackdown on illegal sites that had been pirating their content for eight years. The first legal action was taken against a frame-link piracy site. In 2013, Lezhin Comics introduced a new form of payment called "Time Delay."

Naver adopted this payment model and, due to the free nature of its site, had to offer low royalties to artists. However, the influx of readers brought in significant income through search keywords, exceeding the revenue from selling comics, despite the cost of around 26,000 to 4,000 Korean Won ($20 to $3) per keyword.

Moreover, there were multiple ads. Naver absorbed the electronic publication rights of Korean artists for a small fee, which allowed them to monopolize works for a long time even though they were not books. Mobile platforms were utilized for brand promotion, and international publishing rights were eventually obtained. Many aspiring creators submitted free comics, and the influx of free content was guaranteed as long as they were not part of the 0.1% that received a formal serialization.

Due to this discrimination, freelance creators couldn't unite. Some profited from this system, which improved the company's image thanks to a few star artists. The "vertical scrolling" method was used to fit more content, demanding over 100 cuts, which strained artists' health due to the excessive workload.

Kakao Webtoons' top artist, for example, died at the age of 37 due to overwork. The BBC reported on artists suffering from severe labor and exploitation. The "gate sites," which were initially established to support comics, became highly profitable.

Global launch

On July 2, 2014, the Line Webtoon website and mobile app were launched worldwide, allowing international artists to upload their own works to the service. Hundreds of webtoons are available in the self-publishing section of Webtoon, known as Canvas, where artists can be paid based on page views. JunKoo Kim, Director and Head of the Line Webtoon Division at the time of the launch, stated that a partnership with established and up-and-coming American creators would serve to "expand selection of titles and help expand their fan base." Naver Corporation selected 42 webtoons (including Noblesse, Tower of God, and The God of High School) and one new webtoon by an American artist to be available on the service in English at launch. According to 148 Apps, the service offered "plenty of content" at launch, as seven to ten webtoons were updated each day and the webtoons spanned various genres.

Partnerships

In April 2013, Naver Webtoon created a Profit Page Share program. Webtoon's global profit-sharing programs have seen exponential growth over the past decade. Today, the company's business model has expanded to include paid content sales, advertising revenue, and IP business revenue. When launched in 2013, Webtoon's programs generated 23.2 billion won. By 2022, these will programs have grown to 2.25 trillion won (USD $1.69 billion), an increase of more than 87 times.

In 2015, Line Webtoon partnered with American comics veteran Stan Lee, Image Comics co-founder Marc Silvestri, and make-up artist Michelle Phan in order to promote their service. Silvestri brought his long-running comics series, Cyberforce, to the platform. Various other established American comic book artists and cartoonists have also partnered with Line Webtoon over time, including Dean Haspiel (New Brooklyn), Katie Cook (Nothing Special), Seth Kushner and Shamus Beyale (The Brooklynite), and Tracy J. Butler (Lackadaisy).

In 2016, Webtoon Entertainment Inc. was incorporated under the Delaware General Corporation Law. In September 2016, Line Webtoon partnered with the Patreon crowdfunding service, incorporating a "Patreon button" in the "Discover" portion of the website. This function creates an easier channel for readers and artists to mutually communicate. Naver invested US$3.6 million and $1,000 every following month for webtoon creators who reached a certain threshold of activity and popularity with a Patreon page. One month later, Naver signed with the Creative Artists Agency for film and television opportunities in the United States.

Line Webtoon also partnered with DeviantArt in the second half of 2016, in the form of the "Artist Alley Tour". The companies were active at four comic cons: Boston Comic Con, Baltimore Comic Con, Rose City Comic Con, and New York Comic Con. Here, Line Webtoon and DeviantArt held discussion panels, "Artist Alley Sponsorships", live draw events, influencer and creator demonstration areas, and on-site contests.

In 2017, Line Webtoon and Legendary Comics expanded their partnership with the addition of John Barrowman's Acursian and season 2 of Firebrand.

In 2018, they partnered with Noble Transmission and Common for the new Caster series.

In 2019, Webtoon's digital content subsidiary Studio LICO collaborated with Big Hit Entertainment to release Save Me as part of the latter's BTS Universe (BU), which revolves around the output of South Korean boy band BTS.

On October 15, 2019, Crunchyroll and Line Webtoon announced a partnership to produce animated works from Line Webtoon's catalog. The two will team up to tackle the distribution, licensing, and retail of the series produced by the partnership.

In May 2020, it was announced that Webtoon was being transferred to Naver Webtoon Corp.

In October 2020, Webtoon and Archie Comics announced that the two companies would collaborate on the new Webtoon original series Archie Comics: Big Ethel Energy, which launched in September 2021.

In January 2021, Webtoon's parent company, Naver, announced that it would acquire the popular user-generated fiction platform Wattpad to provide more opportunities for creators. The acquisition was completed in May 2021. Wattpad had previously partnered with Webtoon in its 2020 Watty Awards Contest.

In June 2021, Wattpad and Webtoon announced that the companies would merge their studio divisions to create Wattpad Webtoon Studios, a division of the company focused on developing Wattpad and Webtoon IP for film, television, and print publishing. As of May 2023, around 300 projects from Webtoon and Wattpad Webtoon Studios are in development for entertainment adaptations.

In August 2021, it was announced that Webtoon would be partnering with DC Entertainment to create standalone webcomics that "will appeal to all fans, without the need to know or read any previous stories." The series is being adapted by Webtoon creators instead of established DC creators. Line Webtoon founder and CEO Junkoo Kim put it this way: "DC has allowed us to create content with their characters and world. The writers of Webtoon are creating content based on DC characters."

The first announced DC collaboration was a Batman-oriented title, Batman: Wayne Family Adventures. Additional series within this partnership, Vixen: NYC, Red Hood: Outlaws, and Zatanna & the Ripper, were announced in April 2022.

In November 2021, Webtoon announced a series of upcoming webcomics created in collaboration with BTS-management company Hybe and various artists from the label, including BTS, TXT, and Enhypen. These series, 7Fates: Chakho, Dark Moon: The Blood Altar, and The Star Seekers, launched on January 15, 16, and 17, 2022, respectively.

Webtoon has also partnered with Rewriting Extinction, the global 12-month comic storytelling campaign supporting seven charities involved in biodiversity conservation and the climate crisis, featuring comics from the likes of Jane Goodall. The adapted, celebrity-created comics from the campaign launched on Webtoon on December 23, 2022.

Marvel Entertainment partnered with Webtoon in January 2022 to create the seven-part miniseries Eternals: The 500 Year War, which launched in tandem with the Eternals' arrival for at-home viewing.

The popular video game PUBG: Battlegrounds joined Webtoon's growing slate of partnerships in January 2022 with the creation of three new digital comics based on the fantasy world in the Krafton video game.

In May 2022, Webtoon and McDonald's USA partnered to celebrate Asian and Pacific American voices through a webcomic series called Drawing on Heritage.

In April 2023, Webtoon announced a creative partnership with Ubisoft on Assassin's Creed: Forgotten Temple, an original webcomic set in the Assassin's Creed universe. The series is published by Redice Studio.

Webtoon teamed up with Discord in May 2023 and announced a dedicated Webtoon Discord server as well as a content collaboration for the original webcomic miniseries Wumpus Wonderventures, created in partnership with Merryweather Media.

In June 2024, following reorganizations, Webtoon Entertainment Inc. went public.

Userbase

The userbase of Webtoon grew rapidly after the service was released globally, with 10 million people reading on the platform daily and 35 million people monthly. In Asia, several webtoons receive 5 million views per week. In 2016, 42% of the webtoon creators on Line Webtoon were female, as were 50% of its 6 million active daily readers. 75% of the users in North America are 24 or younger, and 64% are female.

Between 2020 and 2021, Webtoon paid out more than $27 million to its base of more than 120,000 creators who publish in English. In Korea, top creators earn an average of $250,000 per year. The top creator earned around $9 million in 2021.

As of March 2023, Webtoon had grown to receive more than 125 billion views annually. It has 85.6 million monthly active users worldwide and has become the top webcomic platform in the United States, with 12.5 million monthly active users.

Coins

Webtoon uses coins as a currency that readers can purchase in the app. Currently, the currency is exclusive to readers using the Android or iOS versions of the app. Readers can utilize coins to support their favorite creators and access completed series or Fast Pass content, allowing them to read ahead. The number of coins required to unlock an episode varies depending on the series being read. In addition, coins can be utilized to unlock Daily Pass episodes. For every Daily Pass series, you have the option to unlock one episode for free each day. Once unlocked, each Daily Pass episode remains accessible for 14 days. Alternatively, you may use coins to unlock these episodes, which allows you to access them for as long as the series is available on Webtoon.

Contests

Naver Corporation has held various comics competitions through its Webtoon service. In 2015, Line launched the "Challenge League", a recurring competition where amateur artists have the chance to become "official Line webtoon artists", as well as win tens of thousands of US dollars. Over 19,000 people joined the first English-language Challenge League in February 2015, which was won by Stephen McCranie's Space Boy. Local Challenge Weeks were also held; the first Thai Challenge League was held in April 2015 and had a grand prize of 1 million baht.

In June 2015, Naver Corporation hosted the Science Fiction Comics Contest, a global competition with a grand prize of US$30,000. JunKoo Kim called science fiction, the theme of the competition, "both the broadest and fastest-growing area in comics and entertainment, a natural fit as the genre for our second comics contest." This contest had over 800 entrants and was won by Srinitybeast's Overdrive.

In November 2018, Webtoon hosted their Discover Creator Contest. The winner, Kris Nguyen's Cape of Spirits, received a grand total of US$80,000 and an exclusive contract for the series.

On February 28, 2020, "The Short Story Contest" was announced. Running from April 30 to June 30, the contest was split into two categories: "heart" and "brain". The grand prize winners of each category would get US$15,000, an animated short, and a featured contract, with the subsequent winners being Marvin W.'s The Monster Under My Bed for "Heart" and Kotopopi's and Kibbitzer's The Ladder for "Brain". The grand prize, silver, and bronze contest winners were published in two anthologies: the Heart Anthology, which was released in September 2020, and the Brain Anthology, which was released in October 2020.

Between April 2020 and July 2020, Webtoon ran an interactive contest series titled Webtoon GREENLiGHT, wherein nine titles were selected and pitched to readers. The readers then voted (by liking the series' episodes) on which series would be "greenlit" as a new original series. Within one week, each series had to reach a record threshold of 60,000 likes on its third episode in order to be "greenlit" for publication. All nine series succeeded and were released in 2021.

In the summer of 2022, Webtoon started a new contest for their users to create an action comic called Call to Action, where the winner got US$50,000 and a chance to be a Webtoon original.

In August 2022, Webtoon announced a Valorant contest held in conjunction with Riot Games, having fans submit original artwork depicting their interpretations of the character Fade, with ten webcomics selected as winners.

In Media

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Other media into webtoons

Some webtoons on the platform are adaptations of YA novels, including:

• Renée Ahdieh's The Wrath & the Dawn
• Rebecca Schaeffer's Not Even Bones
• Hanna Alkaf's The Weight of the Sky
• Victoria Lee's The Fever King
• Nicki Pau Preto's Crown of Feathers
• Patrick Flores-Scott's American Road Trip

Many South Korean webtoons on the platform are adaptations of web novels, including titles such as:

• The Omniscient Reader's Viewpoint is written by a Korean author duo under the alias Sing Shong and drawn by Sleepy-C from Redice Studios.
• The Remarried Empress (which also became a mobile game and audio drama and was collected and published in paperback format by Yen Press's Ize Press imprint)
• So I Married the Anti-Fan (based on this novel, which also got adapted into both a Chinese film and a Korean TV series).
• Like Wind on a Dry Branch

On June 23, 2021, it was announced that the 2018 film On Your Wedding Day will be adapted into a webtoon, to be serialized on webtoon platforms Naver and Kakao.

A webtoon based on a TV series Our Beloved Summer is a prequel about the high school days of the two main characters of the TV series (Choi Woong and Kuk Yeon-su).

The Korean drama Extraordinary Attorney Woo has also been adapted as a webcomic on Webtoon.

Batman: Wayne Family Adventures, a series based on the Batman family from DC Comics, began serialization in September 2021.

Eternals: The 500 Year War, a series based on the Eternals from Marvel Comics and prequel to the 2021 film, released on January 20, 2022.

Webtoons into other media

Published format (English)

Space Boy was published in paperback by Dark Horse Books.

Hooky was published in paperback by Clarion Books.

Lore Olympus was published in paperback by Random House Worlds.

Yen Press, via its imprint Ize Press, has collected and published several other of Webtoon's titles as paperbacks, including:

• 7Fates: Chakho
• Dark Moon: The Blood Altar
• My Gently Raised Beast
• The Boxer
• The Remarried Empress (see above)
• The Star Seekers
• The World After the Fall

Rocketship Entertainment has collected and published several of Webtoon's titles, including:

• #Blessed
• 1000
• Adventures of God
• Assassin Roommate
• Brothers Bond
• Cupid's Arrows
• Darbi
• Girls Have a Blog
• Late Bloomer
• Let's Play
• Live Forever
• Metaphorical Her
• Outrage
• Spirits: The Soul Collector
• Stan Lee's Backchannel
• The Croaking
• Urban Animal
• undeadEd
• Wolfsbane

Webtoon, after its acquisition of Wattpad, announced in 2021 a new imprint, Webtoon Unscrolled. Through it, Webtoon will be publishing print editions of its own titles, including:

• Boyfriends
• Cursed Princess Club
• Doom Breaker
• Everything Is Fine
• True Beauty
• Tower of God
• The God of High School
• Freaking Romance
• GremoryLand
• Noblesse
• Lumine
• SubZero graphic novel from Oni Press
• unOrdinary graphic novel from HarperCollins

Webtoon has begun serializing other titles. In 2021, they announced that the popular webcomic Lore Olympus would be adapted as a series of print graphic novels, published by Del Rey Books. Volumes 1, 2, and 3 of the print adaptation were published on November 2, 2021, July 5, 2022, and October 11, 2022, respectively, with all three reaching No. 1 on The New York Times Best Seller list. Volume 4 was published on June 6, 2023, and Volume 5 will be released on October 3, 2023.

In October 2022, Webtoon launched Yonder, a serialized fiction app where readers can purchase and read one chapter at a time. At the time of launch, Yonder offered more than 700 titles as a part of a carefully curated collection.

Film and animation

Various movies, Korean dramas, animated series, and video games have been produced based on webtoons released on Naver Corporation's service. According to JunKoo Kim in 2014, "a total of 189 books, videos, and games based on Naver webtoons have either been produced or are in the process of being made." However, Line Webtoon's first entry of video content in the United States came in 2016, in the form of an animated film based on Noblesse.

On November 7, 2016, Air Seoul announced that it had collaborated with Line Webtoon to produce pre-flight safety demonstration videos. Some of the works featured in these include Denma, The Sound of Heart, and Noblesse.

In July 2019, Webtoon produced their first promotional animated short series from one of their exclusive originals, My Giant Nerd Boyfriend. A second set of promotions from the work Let's Play was released in September 2019.

In October 2019, Crunchyroll revealed on Instagram that it would be collaborating with Webtoon to release animated series based on selected webtoons as a part of its "Crunchyroll Originals" project. In February 2020, Crunchyroll announced that Noblesse, Tower of God, and The God of High School were chosen for later release.

A growing body of Webtoon adaptations now regularly stream on Netflix, Disney+, Crunchyroll, and other platforms. In fall 2022, Netflix saw strong performances for an adaptation of Lookism, and Disney+ released an adaptation of Connect from acclaimed director Takashi Miike. Webtoon subsidiary Wattpad Webtoon Studios has multiple series in development, including an adaptation of A Rasen's Gremoryland with Vertigo Entertainment and an animated adaptation of Rachel Smythe's Lore Olympus in conjunction with The Jim Henson Company.

Several webcomics that started on Webtoon have provided the source IP for popular TV and film adaptations launched by major streamers and distributors. For example, the Netflix hit series All of Us Are Dead, Hellbound, and Sweet Home.

List of adapted webtoons

Below is a list of Naver Webtoon titles adapted into television series, web series, and films.

Awards and nominations

See also

• Kakao Webtoon
• Line Manga
• Studio N, a film studio that produces drama adaptations of Naver Webtoon series
• Tapas (website)

Footnotes

1. Naver Webtoon in Korean; Line Manga in Japanese; Dongman Manhua and Webtoon in Chinese; Webtoon in English, French, German, Indonesian, Spanish, Thai, and Xhosa

References

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External links

• Webtoon
• XOY Archived February 20, 2021, at the Wayback Machine

• 2004 establishments in South Korea
• Internet properties established in 2004
• Naver Corporation
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