What Has Been the Growth of the Webtoons Market So Far?
The webtoons market has seen considerable growth due to a variety of factors.
• The webtoons market has experienced exponential growth in recent years. It will grow from $8.24 billion in 2024 to $10.78 billion in 2025, at a CAGR of 30.8%.
This expansion is driven by the growing popularity of digital comics, the rise of smartphones, demand for mobile-friendly content, increasing trend toward digitalization, and the rise of content digitization.
What Is the Forecasted Market Size and Growth Rate for The Webtoons Market Size In The Coming Years?
The webtoons market is expected to maintain its strong growth trajectory in upcoming years.
• The webtoons market is set for substantial growth, reaching $31.21 billion by 2029 at a CAGR of 30.4%.
This growth is fueled by the increasing use of digital platforms and devices, mobile-based subscriptions, the demand for webtoons across mobile phones, PCs, and tablets, and rising internet user numbers. Key trends include technological advancements, new product innovations, mergers and acquisitions, broadcasting network partnerships, and the expansion of licensed content.
What Factors Are Driving Growth In The Webtoons Market?
The expansion of online entertainment providers is anticipated to drive the webtoon market's growth. Online entertainment providers are services that offer a variety of entertainment materials, such as movie and TV show streaming, music, podcasts, and video games. The popularity of these digital platforms is attributed to their cost-effectiveness, consumer appetite, and improved data usage capabilities. Webtoons are being integrated into digital platforms as a versatile and compelling form of content that can draw a wide audience, build a sense of community, provide opportunities for revenue generation, and enhance the user's experience. In the year 2023, Netflix, a US based webtoons supplier and subscription video-on-demand OTT streaming service, recorded a boost of 6.6% in revenue on annual basis, amounting to $33.7 billion. The company's net profit also grew by 20.4% to $5.4 billion, and its subscriber count rose to 238.3 million globally. As a result, the emergence of digital platforms is fostering the webtoons market's enlargement.
What Are The Main Segments Of The Global Webtoons Market?
The webtoons market covered in this report is segmented –
1) By Product: Subscription Based, Advertisement Based
2) By Genre: Action, Science Fiction (Sci-Fi), Horror, Comedy, Romance, Other Genres
3) By Application: Mobile Phone, Personal Computer (PC) Or Notebook, Tablet Computer, Other Applications
Subsegments:
1) By Subscription-Based: Monthly Subscription, Annual Subscription, Pay-Per-Chapter
2) By Advertisement-Based: Banner Ads, Video Ads, Sponsored Content
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How Are Emerging Trends Reshaping The Dynamics Of The Webtoons Market?
Key players in the webtoons market are concentrating on creating unique products, like serialized fiction applications, to establish a competitive advantage. Serialized fiction applications are platforms where stories are published in parts, typically on a fixed schedule, and come with several features including update alerts, bookmarking, and community engagement. For example, in October 2022, NAVER WEBTOON Ltd., an innovative storytelling platform based in the U.S., introduced Yonder, a premium app for serialized fiction. This application provides a select experience with hundreds of titles in different genres. Yonder collaborates with publishers to rejuvenate archives and tailor stories for the platform. The application is free of charge on Android and will soon be released on iOS. Yonder operates on a pay-per-read basis, providing readers with a fresh way to explore and discover narratives.
Who Are the Key Players In The Webtoons Market?
Major companies operating in the webtoons market are:
• NAVER Corporation
• Kakao Corporation
• Bilibili Inc.
• KRAFTON Inc.
• NETMARBLE Corporation
• KIDARISTUDIO Inc.
• D&C Media Co.Ltd.
• Manta Media Inc.
• Shueisha Inc.
• Toomics Global Co. Ltd.
• RIDI Corporation
• NHN Comico Corporation
• Lezhin Entertainment LLC
• Mr. Blue Corporation
• Sidewalk Group
• TappyToon
• Tapas Media
• NETCOMICS INC.
• Webtoon Factory
• Foxtoon
• Seven Seas Entertainment Inc.
• Cross Infinite World
• Mangatoon HK Limited
What Is The Most Dominant Region In The Webtoons Market?
Asia-Pacific was the largest region in the webtoons market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the webtoons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
