No.1 Market Share in France, Taiwan, and More
Seeking IP Strengthening Alongside Performance Through Global Expansion
Webtoon Entertainment, the parent company of Naver Webtoon listed on the US Nasdaq market, is establishing its presence in global markets beyond North America. This is expected to have a positive impact not only on Naver Webtoon's performance but also on the discovery of global creators and the strengthening of intellectual property (IP), as it aims to become the "post-Disney."
According to application analytics firm Mobile Index on the 1st, as of the 28th of last month, Naver Webtoon's global platform 'WEBTOON' ranked 17th and 34th in revenue on the Google Play Market and App Store in France, respectively.
More than 70% of Naver Webtoon users in France. According to data from global data and analytics platform Data.ai, from early this year until May 31, among active users of webtoon platforms in France, 76% used Naver Webtoon. This means that more than 7 out of 10 webtoon users in France use the Naver Webtoon service.
Naver Webtoon is also strong in three countries: Taiwan, Thailand, and Indonesia. In the App Store revenue rankings, Taiwan, Thailand, and Indonesia ranked 10th, 8th, and 18th, respectively. From early this year until May 31, Naver Webtoon's market share in Taiwan, Thailand, and Indonesia was also over 75%. Additionally, Naver Webtoon's Japanese service, Line Manga, ranked first in revenue among all apps.
This foundation is expected to be used as an outpost for strengthening IP. As the popularity of webtoons grows, it creates a virtuous cycle that increases users not only in these countries but also in surrounding cultural regions. Naver Webtoon operates a rookie creator discovery system called 'Canvas' in North America, Europe, and Southeast Asia, and 'Indies' in Japan to discover local creators in each country.
Moreover, multi-way cross-border content, which translates content from countries other than Korea and exports it to other regions, also contributes to IP strengthening. This goes beyond simply translating Korean works for export; it freely crosses borders by delivering local content to Korea or other countries. A representative example is 'Our Secret Marriage,' a web novel from Naver Series adapted into a webtoon by Indonesian story and art creators, which gained popularity after its local release.
Kim Jun-gu, CEO of Webtoon Entertainment, also expressed his intention to expand the webtoon ecosystem by utilizing this virtuous cycle. At a listing commemorative press conference on the 27th of last month (local time), he explained, "Content from local creators in the US goes to France and acts as seed content, stimulating French creators and encouraging their participation," adding, "Ultimately, this success formula will be repeated."
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