You’ll find that you can read vertical scrolling comics featuring Spider-Man, Aliens, Star Wars and beloved Disney characters in the webtoon app. As announced today by both Disney and Webtoon, the two corporate giants have joined a strategic partnership to globally introduce comics from Disney, Marvel, 20th century studios and Star Wars brands into Webtoon’s mobile vertical scrolling format.
Plus, Titanic: A brand new original WebComic series is here. Webtoon develops original comics under all these brands. According to PR, “These original Webcomic series will showcase new adventures for beloved characters, from superhero epics to adventures across the Galaxy, giving fans more of what they love and bringing them directly to their mobile devices.”
Predicting the future of vertical scrolling in serialized comics is just one step closer.
The first deal calls for around 100 comics to be available in a new dedicated section of the English app. Readers will enjoy free episodes at first, but like most webtoons, Pay-To-Read will eventually begin. Launch Title:
Amazing Spider-Man (2022-Present) Avengers (2012) Star Wars (2015) Alien (2021) Disney is just as time: Twisted Tale
“Disney, Marvel, the 20th Century, Star Wars brands are one of the most legendary, creative and successful in the industry,” said Yong Kim, Chief Strategy Officer of the Statement and Head of Global Webtoon. “We are thrilled to launch this collaboration with the iconic series from our comic book catalogue, and this is just the beginning!
“We’re looking forward to seeing you in a way that’s a great opportunity to help you,” said Daniel Fink, head of digital innovation for Disney Consumer Products. “We look forward to interacting with their dedicated global user base while welcoming future fans to experience the redefined form of Disney’s storytelling that has a lasting impact in the digital comics field.”
Rob Salkowitz has more details and analysis on Forbes. Emphasise whether this is a pretty big deal
Earlier this summer, ahead of the announcement of the Disney partnership, Kim was even easier on Webtoon’s ultimate vision for the industry. “Vertical scrolling format revolutionized digital comics,” he wrote in “Predictions” for the future of digital comics. “Now, when publishers digitize and reformat their catalogs for digital distribution, the same innovation is applied to traditional comics. As the entire history of comics is digitized, difficult-to-find issues and content become a thing of the past.
Both companies seem to be embracing experiments to grow the market. Webtoon has previously collaborated with Marvel on projects like a series of webtoon adaptations in Korea, such as The Eternals: The 500 Year Warand. The company has partnered with DC Comics, Dark Horse, Archie, IDW and more on a variety of series, including the popular Wayne Family Adventure (DC). Marvel recently announced a digital distribution agreement with DSTLRY, a startup founded by Amazon Comixology veterans, operating on a revenue model that is different from Webtoon.
Another big deal is that Webtoon announced its revenue for the second quarter, surged 28% after last year’s Splashy IPO and a slower result in several quarters.
Total revenue was $348.3 million, up 8.5% due to increased paying content, advertising and IP adaptation.
Revenue on a constant currency basis was $338.7 million, up 5.5%, driven by growth in all three revenue streams.
The net loss was $3.9 million compared to a net loss of $76.6 million in the previous year due to a decline in general and administrative expenses related to the Company’s initial public offering in the last quarter.
The adjusted EBITDA was $9.7 million compared to the previous year’s adjusted EBITDA of $20 million. The adjusted EBITDA margin was 2.8%, compared to 6.3% the previous year.
After dilution, the per share loss was $0.03, while the per share dilution loss was $0.70 the previous year.
The adjusted earnings per share was $0.07, while the adjusted earnings per share was $0.18 the previous year.
It includes approximately $581.5 million in cash and cash equivalents, plus an additional $12.1 million in short-term deposits included in other current assets.
Webtoon stocks rose significantly following the news of the Disney Partnership. In forward-looking statements, they projected ongoing profits, with revenues ranging from $380-390 million in the next quarter.
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