Game Industry Expands IP Infinitely Across Novels and Webtoons

[Asia Economy Reporter Kang Nahum] Domestic game companies are actively expanding their intellectual property (IP) by producing their games into web novels and webtoons, targeting the global market. Conversely, they are also creating games or video content based on original works such as novels. By utilizing proven IPs with lower risk of failure, they are developing sustainable businesses and maximizing profitability.

◆ Com2uS Builds the ‘Summoners War Universe’ = The most active player in recent IP expansion is Com2uS. According to the gaming industry on the 30th, Com2uS added book, online e-book, and magazine publishing to its business objectives at the shareholders' meeting last March. The company plans to build a content value chain encompassing games, web novels, webtoons, animation, dramas, movies, broadcasting, performances, and exhibitions.

Com2uS has already developed its flagship IP ‘Summoners War’ into the ‘Summoners War Universe,’ which features a storyline spanning over 100 years. Starting with the short animation ‘Summoners War: Friends and Rivals’ produced in 2019 in collaboration with Skybound Entertainment, they published the comic series ‘Summoners War: Legacy’ based on the expanded universe last April.

This work was published through Image Comics, a North American publisher with a popular lineup of comics and graphic novels, and subsequent episodes have been released monthly since the first issue. In addition, Com2uS plans to broaden the IP’s scope with various cultural contents such as comics, animations, and novels centered on the Summoners War Universe, aiming for a multifaceted approach to the global market.

◆ Netmarble Partners with North American Webtoon Platform = Netmarble is also actively expanding its IP by partnering with global platform companies. In April, Netmarble formed a partnership with North American webtoon and web novel platform company Tapas Media and published the web novel ‘Firstborn: Divided Loyalties’ based on the strategic mobile MMOG (Massively Multiplayer Online Game) IP ‘Iron Throne.’

Tapas is the first webtoon platform in North America, boasting over 60,000 creators, more than 1.4 million works, and around 80 original IPs as of May last year. It enjoys significant popularity with over 3 million monthly active users (MAU) and more than 6.7 billion cumulative views.

‘Firstborn’ is written by popular original content creator C.J. Young and consists of at least 30 chapters, uploaded twice weekly. Netmarble and Tapas plan to release various other contents based on Netmarble’s game IPs in the future.

◆ Krafton Secures Long-form Novel IP = There are also cases where domestic original works such as novels are adapted into games. Krafton is currently conducting visual R&D to produce a game based on the fantasy novel ‘The Bird That Drinks Tears’ by author Lee Youngdo.

This project is being carried out by Krafton’s ‘Project Windless’ team in collaboration with Hollywood concept artist Ian McCaig. McCaig is a renowned concept artist who has contributed to early character visualization for blockbuster films such as the Star Wars series, Harry Potter, Avengers, and Terminator. Notably, the IP of ‘The Bird That Drinks Tears’ is expected to be released globally in various secondary content forms including games, video content, and publications.

These IP expansion efforts by game companies are driven by the potential for high profits from a single success. The rapidly growing global content market supports this trend. According to the ‘2020 Overseas Content Market Analysis’ published by the Korea Creative Content Agency, the global content market in 2019 was valued at $2.432 trillion (approximately 2,752 trillion KRW), a 4.63% increase from the previous year. It is projected to grow to $2.7 trillion (approximately 3,055 trillion KRW) by 2023.

An industry insider stated, "Since these projects utilize verified IPs, the risk of failure is relatively low, and because the universe and characters are already established, the production process is efficient. In the case of webtoons, if they become global hits, it is possible to generate hundreds of billions of KRW in annual revenue from individual platforms alone."