Over 35,000 Comics from Disney, Marvel, and Pixar in One Place
Access to the Comics Platform Included with Disney Plus Subscription
Webtoon Entertainment, the U.S. headquarters of Naver Webtoon, and The Walt Disney Company have joined forces to develop a new webtoon platform. Through this platform, Disney plans to offer original Disney comics to Disney+ subscribers, a move interpreted as Disney making a strategic bet on webtoons after losing ground in the global online video service (OTT) competition.
On September 15 (local time), Webtoon Entertainment and The Walt Disney Company announced their collaboration to develop a new digital comics platform where users can enjoy Disney comics in one place. Additionally, the two companies signed a non-binding term sheet for Disney to acquire a 2% stake in Webtoon Entertainment. This platform development partnership and equity investment are contingent upon the completion of all necessary procedures for the final contract and transaction closure between the two companies.
This collaboration will allow users to access over 35,000 comics from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios through a single subscription service.
The new platform will be developed and operated by Webtoon Entertainment. Alongside Disney’s flagship titles, the platform will also offer select original series currently serialized on the English service of Naver Webtoon's global platform, WEBTOON. The platform will support both vertical scroll and traditional comic formats.
Disney+ OTT subscribers will be able to enjoy the works provided on the new webtoon platform at no additional cost. Previously, last month, Webtoon Entertainment and Disney announced a global content partnership to introduce over 100 flagship Disney franchise works as vertical scroll webtoons.
The new digital comics platform is set to be available in the global market. Some titles will be localized and offered on Naver Webtoon's Korean and Japanese language services.
Industry experts believe that Disney chose to collaborate with Webtoon Entertainment not only because it operates the world’s largest digital comics platform, but also due to its extensive know-how in running webtoon platforms over many years.
Josh D’Amaro, Chairman of Disney Experiences, stated, “By bringing together our unparalleled collection of comics from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios, we are offering fans an unprecedented opportunity to enjoy the stories they love on a single platform.” He added, “Through expanding our partnership with Webtoon Entertainment, a global leader in digital comics, we aim to reach new readers and strengthen our engagement with fans.”
Kim Junkoo, CEO of Webtoon Entertainment and Naver Webtoon, said, “The new platform will combine our product and technology expertise with Disney’s vast library, providing fans around the world with a new way to discover and enjoy Disney’s legendary characters and stories.” He continued, “It is a great honor to shape the future of digital comics alongside Disney, which boasts the world’s finest storytelling legacy. This partnership marks a significant step in our global business growth and lays the foundation for even greater collaboration with Disney in the future.”
Meanwhile, following the announcement of the collaboration, shares of Webtoon Entertainment (WBTN), listed on the NASDAQ in the United States, surged by as much as 90% compared to the previous trading day.
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