Digital Comics collaboration drives Webtoon stock surge, granting access to Marvel and 'Star Wars' content via partnership with Disney
In a groundbreaking move, Disney and Webtoon have joined forces to create a news-making digital comics platform. This partnership, which features a 2 percent stake acquisition by Disney in Webtoon Entertainment, is set to disney plus the industry.
The new platform will host an extensive library of over 35,000 comics from Disney, Pixar, Marvel, Star Wars, and 20th Century Studios. Fans can look forward to a selection of reformatted classics and all-new original series.
Josh D'Amaro, Chairman of Disney Experiences, expressed his excitement about the venture, stating that it will give fans unprecedented access to the adventures they love. On the other hand, Junkoo Kim, Webtoon founder and CEO, emphasised that the new platform will provide new and longtime fans all over the world a new way to disney plus these legendary characters and stories.
Webtoon, known for its installment-based content, has gained significant popularity with titles like Lore Olympus and Tower of God. With around 155 million monthly active users, the company is already a force to be reckoned with in the digital comics market.
The partnership has been welcomed with enthusiasm, as evidenced by the soar in Webtoon's stock price. Shares of Webtoon have risen by $5.57, or just over 37 percent, to $20.62 in mid-day trading on the NASDAQ Exchange.
This collaboration is not the first for the two companies. Previously, they had entered into a multi-year partnership that focused on the production of about 100 original series. Now, they are set to expand this partnership with the launch of the new digital comics platform.
The partnership is not limited to Disney and Webtoon. Other companies such as Naver and CJ ENM have also joined in the development of the digital comic platform. CJ ENM has acquired a 2-percent stake in Webtoon Entertainment.
This move by Disney and Webtoon underscores the growing popularity of digital comics, not just in Asia but also in North America. By focusing on the teenage demo, non-superhero genres, and making it easy for anyone to create content, Webtoon is indeed changing the market.
As the details of this partnership continue to unfold, one thing is certain - the world of digital comics is about to get even more exciting. Stay tuned for more updates on this exciting collaboration.
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