David J. Lee, COO and CFO of Webtoon Entertainment, asserted that our company is an exciting, yet-to-be-told tale, as he discussed the impressive growth path of the digital storytelling platform called webtoons.
Absolutely, the statistics clearly paint a picture, as Lee explains in the latest episode of the “Strictly Business” podcast on EbMaster. Based in Los Angeles, this company plays a significant role in the creation and dissemination of webtoons – an innovative form that combines elements of manga and graphic novels, presented in a blog-style scroll format online. Originating from South Korea around ten years ago, this medium has gained traction among Gen Z audiences globally. Now, stories from webtoons are increasingly being used as inspiration for films and television series.
As a passionate movie lover, I’ve noticed an intriguing trend: everyday, people are dedicating 30 to 60 minutes of their time to immerse themselves in engaging stories, be it web novels, web comics, or web toons. This phenomenon, as I experienced during the EbMaster Entertainment Summit at CES this month in Las Vegas, feels like a revolutionary digital storyboard for the next generation. And the best part? The revenue our platform generates, reportedly over $1.3 billion, is just a testament to its popularity. But what truly excites me is seeing these narratives unfold as high-quality film adaptations on platforms like Netflix, Amazon Prime, and even Tubi.
Listen to the full podcast:
https://omny.fm/shows/strictly-business/exploring-the-wide-world-of-webtoons/embed
Lee reeled off impressive user and engagement stats.
Webtoon, as a global entity, boasts 170 million monthly active users. Yet, it’s not just the consumers who are numerous; there are an astounding 24 million creators generating over 120,000 fresh stories each day. These stories cater to our Gen Z audience. Lee mentioned that the platform is digitally and mobile-centric, offering a wide range of genres beyond traditional manga. It’s like having an entire library of genres at your fingertips! Imagine a Gen Z user, casually scrolling on their mobile device with swift finger movements, quickly accessing just enough visuals and text to grasp the direction of a story.
As a passionate movie reviewer, I recently had the pleasure of diving into the digital world of Brandon Chen, a renowned creator of webtoons who’s behind captivating series like “Just a Goblin” and “Samurai no Tora.” Unlike traditional television, which he calls “still TV,” Chen emphasizes that his stories are expertly crafted for mobile consumption. This unique, on-the-go reading experience offers a refreshing departure from the static viewing of conventional TV.
Chen explained that webtoons are an innovative form of storytelling, tailored specifically for digital platforms, such as your smartphone. This is due to their unique vertical scrolling format, which engages readers actively as they navigate through the narrative. Using an analogy, he likened it to watching TV while riding a bike – the more you pedal, the faster the scene changes. In this case, your finger serves as the pedal, moving the webtoon panels. The scrolling format is vertical and the chapters are broken down into manageable segments, typically consisting of 50 to 60 panels on average. Unlike traditional Japanese manga, webtoons are colorful, and the content offered is diverse across various genres, making it a fresh medium for storytelling.
EbMaster’s weekly podcast, titled ‘Strictly Business’, delves into discussions with key figures in the media and entertainment sector, focusing on the business aspects of their industry. (Don’t forget to subscribe to our newsletter for free.) Fresh episodes are released every Wednesday and can be accessed at platforms like Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud, and many more.
(Shown above: David J. Lee from Webtoon Entertainment chats with Cynthia Littleton of EbMaster’s during the EbMaster Entertainment Summit at CES.)
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2025-01-22 20:50