Webtoons are taking over the world. Is the US next? - The Hustle
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While superhero movies own pretty much every American box office record ... Webtoons, a digital comic format that originated in South Korea, ...
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Webtoonsaretakingovertheworld.IstheUSnext?
ThedigitalcomicformatmaybeSouthKorea’snextbighitintheUS.
Webtoons/YouTube
RobLitterst
March30,2022
WhilesuperheromoviesownprettymucheveryAmericanboxofficerecord,thecomicbooksthey’rebasedonhavealwaysbeenanicheinterestintheUS.
Webtoons,adigitalcomicformatthatoriginatedinSouthKorea,arestartingtomakeasplashoutsideofEastAsia—andabigpushfortheAmericanmarket,pertheFinancialTimes.
Webtoons…
…aredigitalcomicsmeanttobereadonasmartphoneorcomputer.Thetechnologyoriginatedcirca2003asphysicalcomicsalesdwindledinSouthKorea.
Theriseoftheformathashappenedinlockstepwiththecountry’s2leadingplatforms:
NaverWebtoon,whichhas750kcreatorsonitsplatformand82mmonthlyactiveusers
KakaoWebtoon,whoseJapaneseaffiliate,Piccoma,wasthe2ndhighestgrossingnon-gamingappintheworld,behindTikTok,in2021($96minmonthlyrevenue)
BothplatformsallowcreatorstouploadWebtoonsforfree,leadingtoamassiverangeofstoriesandtitles.Thisvariety,alongwiththeabilitytoconsumeWebtoonsquicklyandon-the-go,hasledtotheformat’sgrowingpopularityinSouthKoreaandbeyond.
ButwillAmericansbite?
CriticswonderifSouthKorea’s“digitalsnackculture”willworkwithAmericanaudienceswhohaveshownmixedfeelingsaboutshort-formcontent.
Ononehand,TikTokhas50mdailyactiveusersintheUS.
Ontheother,Quibi,theshort-formstreamingplatform,raised$1.75Bonlytoshutdown6monthsafterlaunchwhenitstruggledtohitsubscribertargets.
SouthKoreancreators…
…havealreadygeneratedmassivehitsintheUSacrossformats:
BTS,theK-Popgroup,hashadthebestsellingsongintheUS2yearsinarow
Parasite,the2020Oscarwinner,isthe4thhighest-grossingforeignfilminUSboxofficehistory
SquidGame,theNetflixhit,wasthe6thtitletoreach3BminutesstreamedinasingleweeksinceNielsenstartedtrackingstreaming
Foritspart,NaverWebtoonhas14msubscribersintheUS,makingup17%ofitstotalreadership—anicelittlenichealready.
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