6 days ago
Webtoon to bring Disney titles to mobile platform
Platform to host 100 Marvel, 'Star Wars' titles as shares jump 28 percent on news
Webtoon Entertainment, the US-based parent company of Naver Webtoon, struck a multiyear partnership with Walt Disney Co. to bring around 100 titles from Marvel, "Star Wars" and other Disney properties to its vertical-scrolling platform, the companies announced Wednesday.
The partnership will release adaptations of existing comics for smartphone viewing as well as original content developed for the mobile format. The content will appear in a dedicated section of Webtoon's English-language app, Webtoon said.
"Amazing Spider-Man" debuts this month, followed by "Avengers," "Star Wars" and other titles. Users can read initial episodes for free before purchasing additional chapters with in-app coins.
The deal helps fill a major content gap for the Naver Corp.-backed company as it expands beyond Asian markets. The platform boasts 155 million monthly active users globally, but has lacked superhero titles — which Disney's Marvel catalog will now deliver in earnest. The platform's demographics skew younger and more female than traditional comics readers, and its popular titles lean toward fantasy, romance and slice-of-life genres.
For Disney, the partnership marks a shift from Marvel Comics' traditional distribution through comic shops and download services that cater to older fans. The entertainment giant could tap into Webtoon's younger, mobile-first user base while opening new revenue streams for its extensive back catalog.
"The Disney, Marvel, 20th Century and Star Wars brands are among the most legendary, creative and successful in the industry," said Yongsoo Kim, Webtoon's chief strategy officer. "We're bringing this legendary storytelling to a new generation of mobile-native comic fans."
The announcement sent Webtoon shares up 28 percent in after-hours trading Tuesday, coinciding with second-quarter earnings announced the same day. Webtoon reported revenue rose 8.5 percent to $348.3 million, while net losses narrowed to $3.9 million from $76.6 million a year earlier. The company projects third-quarter revenue between $380 million and $390 million.
Webtoon Entertainment went public on Nasdaq in June 2024. The US-listed company serves as the parent of Korea's Naver Webtoon following a May 2020 restructuring, with Naver Corp. maintaining majority control. The company reported 2024 revenue of $1.35 billion with a net loss of $152.9 million.
Financial details of the partnership were not disclosed, but Disney's Daniel Fink, head of digital innovation, called it "one of the biggest" publishing partnerships his company has undertaken.
