New financial information from Webtoon, the digital comics platform and home of the hit Lore series Olympus and Hellbound, reveals monetary success.
For digital comics creators, Webtoons bears fruit as new financial figures have been revealed. The webcomic platform announced that payouts to its creators topped the $27 million mark. Digital comics are growing in popularity, and webtoon looks set to continue growing in the market.
Webtoon was launched in Korea in 2004 and expanded to the United States in 2014. The comics platform has grown its presence over the past few years. This has included partnerships with several comic book series companies, including Marvel, DC Comics, Archie Comics, and HYBE. Titles included Eternals: The 500 Year War, Batman: Wayne Family Adventures, Vixen: NYC, Red Hood: Outlaws, Zatanna & The Ripper, Big Ethel Energy, and 7Fates: Chakho.
Now, Webtoon has shared details about the platform’s financial success. Payouts on the platform to English-language creators have topped $27 million since 2020. The company launched its US Creator Monetization Program in 2019, showing a more than 75% increase in payouts to creators, according to Webtoon. He is now building a “creator economy” for digital comic artists. According to a press release from the platform, webtoon has paid an average of more than $1 million to English-language creators each month since 2020. Last year, Korea’s highest-earning webtoon creator earned around $9 million ($12 billion). .
According to Ken Kim, CEO of Webtoon Americas:
“Webtoon creators are some of the most talented, creative and engaging in comics history. Our storytelling technology platform supports all types of creators, enabling them to build global audiences and earn revenue. money through their work. At a time when comics have never been more popular, we’re incredibly proud of the growing creator economy and ecosystem we’ve built to celebrate and support webtoon creators.”
David Lee, VP of Content at Webtoon added:
“We’ve built something really special at Webtoon: a platform where every comic book creator can create a global fandom and earn money from their work. We’ve been perfecting our creator-first business model since 2004 in Korea, and now we’re bringing those learnings and income to our amazing American creators. But we’re just getting started, and you’re going to see more creators making more money on Webtoon as we grow the local market and help more creators to make more money doing what they love.”
Webtoon has seen immense growth over the past few years as it has expanded its reader base globally. Lore Olympus – the platform’s most popular webcomic – reached #1 on the New York Times‘ bestseller list in 2021 and received two Eisner Award nominations. Additionally, Netflix has adapted several webtoon series including Hellbound, we’re all dead, Sweet Home, Love and Leashes, and The sound of magic. As part of Webtoon’s growth in the market, the Wattpad Webtoon Book Group is launching a new brand: Webtoon Unscrolled. This imprint is expected to launch titles this fall.
With such growth, it’s encouraging to see that creators are being paid for their hard work and that the market seems to be growing alongside the increase in the number of creators and comics available. Webtoon has also rolled out more ways for creators to make money, including a TV, book, and movie adaptation deal with Wattpad Webtoon Studios. It is one of many global ventures in the business to grow the online comics platform’s fan base while increasing revenue opportunities for creators. With comics on the rise in new and expanding formats, comic companies need to ensure that creators are properly compensated for their work. Without creators, comics platforms and comics companies wouldn’t be as successful as they are. Creator compensation and credit has long been a topic of discussion within the industry, so it’s encouraging to see Webtoons showcase financial success within the digital comic market.
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