'Webtoon Friends Originals' Brand Launch
Expanding Lineup with Various IPs and Continuous Sales
Strengthening IP Business Ahead of Nasdaq Listing
Naver Webtoon, which has begun the process of listing on the US Nasdaq, is launching a goods brand using intellectual property (IP). The plan is to go beyond releasing one-off products centered on major IPs and to establish a diverse IP-based product lineup for continuous sales.
According to the IT industry on the 13th, Naver Webtoon is set to unveil its first product under the official goods brand called 'WEBTOON FRIENDS ORIGINALS' on the 14th. To this end, it recently registered the trademark for 'WEBTOON FRIENDS ORIGINALS.'
The reason for launching a goods brand is to continuously sell goods based on various IPs. Previously, goods were released mainly for some popular IPs such as 'Maru-neun Gangjwi' and 'Garbage Time,' or sold as limited-time event products.
Naver Webtoon will take charge of a kind of IP goods management, overseeing everything from product planning to sales. The company plans to first operate the independent brand domestically and then consider expanding overseas. Naver Webtoon currently operates 'Webtoon Shop,' a made-to-order goods store in the US.
This move is to strengthen the IP business. Currently, most of Naver Webtoon's total revenue (80.2%) comes from paid webtoon content, but after listing, the focus will shift to the IP business. According to the securities registration statement submitted to the US Securities and Exchange Commission (SEC), the market opportunities are presented as ▲paid content $130 billion (about 178 trillion KRW) ▲advertising $680 billion (about 933 trillion KRW) ▲IP business $900 billion (about 1,235 trillion KRW). This indicates a plan to focus aggressively on the IP business given its large market potential.
The potential has also been confirmed. Goods sales from online and pop-up stores in the first quarter of this year reached $5.4 million (about 7.4 billion KRW), more than four times higher than the same period last year. The three pop-up stores held in the second half of last year recorded the highest number of visitors, with about 170,000 visitors purchasing more than 600,000 products.
A Naver Webtoon official said, "As the webtoon goods market gradually grows, we launched our own brand to meet users’ demand for various IP products," adding, "We are preparing several products that can showcase the unique charm of webtoons."
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