Posted in : strip , Current News| Tagged:2024,Webtoon
Webtoon , the mankind ’s biggest publisher of comics made a expiration of $ 153 million last year . , against tax revenue of $ 1.35 billion
Article Summary
The Korean - ground Webtoon Entertainment is the world ’s biggest comic book publishing house . It was set up in 2005 by its CEO , Junkoo Kim , while working for South Korean technology giant Naver Corporation , who still owns over 60 % of the caller . Webtoon Entertainment allows mirthful book creators to issue their work in a vertical scrolling digital reading political platform . A act of title have seen version for the screen courtesy of Netflix , Prime Video , and Crunchyroll . Popular title includeThe Mafia Nanny , Love 4 A Walk , Star Catcher , Childhood Friend Complex , The Remarried Empress , Down To EarthandNot Your Typical Reincarnation Story .
But Webtoon Entertainment has justreported big losses in an investor callfor Q4 and the full yr , even as it achieved higher sales , withDavid Lee , Chief Operating Officer and Board Member of Webtoon Entertainment , attributing the losses to increased IPO - related expenses , higher merchandising cost , and goodwill impairment in the entanglement novel sector , as well as and currency variation repulse the expiration , as currencies in Asia dropped against a burgeoning clam in 2024 . Foreign up-to-dateness adjustments made up a $ 62 million exit in Q4 , and $ 72 million for the year , against only $ 18 million loss for the whole of 2023 . And that South Korea ’s political unbalance had a impermanent impact on user battle . America , take musical note . plus writedowns made up $ 70 million of the losings , but that was n’t far off what they go through in 2023 with $ 63 million compose down .
And even with all those losses , Webtoon ’s sale were up 5.6 % for Q4 and up 5.1 % for the full twelvemonth to $ 1.35 billion . So , you know , there ’s a sight of money come up in , even if a destiny of it is still going out . And $ 648.2 million of that revenue hail from Japan , outstrip South Korea for the first clip , with almost 22 million readers from Japan alone , a 3.5 % increase from the previous year . Indeed , alfresco of gaming , Webtoon was the biggest revenue raiser in Japan for the year .
Webtoon also states that paid content revenue grew by 6.7 % , while ad revenue , particularly in South Korea and Japan , surged by 22.1 % overall . And they expect to continue revenue growth , prognosticate entire revenue between $ 318 million and $ 328 million . Webstoon states that they persist optimistic about future increase , leveraging elaboration in Japan and international market place , enhanced monetisation strategy , and further IP development .
Notably , twenty years after being establish , they are still piddle an enormous loss , even as readership shift digitally and towards manga , worldwide . But much of this is see as investment funds for the future tense , as Webtoon go along to overshadow worldwide amusing book readers .
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