Search results for Wattpad
Games & Commerce
Webtoon Entertainment Q1 operating loss 11.7 billion won, narrows 69.8 percent
Webtoon Entertainment, Naver Webtoon’s U.S. parent, said its first-quarter operating loss narrowed 69.8 percent from a year earlier on improved gross profit and cost controls. Revenue fell 1.5 percent to $320.87 million, but rose 0.2 percent on a constant-currency basis. The operating loss was $8.03 million and net loss fell 60 percent to $8.80 million. Paid content revenue edged up, while ad and IP business revenue declined.
Games & Commerce
Webtoon Entertainment integrates global operations, creates CBO role
Webtoon Entertainment said on Tuesday it announced new leadership and created a chief business officer role. The reorganisation integrates region-based operations into a global leadership structure to improve business efficiency. It appointed Chae Yu-gi as chief product officer and hired Yeon Go-eun as the new CBO. CFO David Lee will also serve as Wattpad president. The company will abolish its COO and CTO roles and made new AI and IP appointments.
Games & Commerce
Kim Yong-su says creators\' success is webtoons\' success, 70 billion won investment in ecosystem
Kim Yong-su (김용수), the new president and CEO of Webtoon Entertainment, said the company will expand investment in its creator ecosystem. He said revenue distributed to creators worldwide from 2021 to 2025 totalled 4.15 trillion won and that support will be increased this year. The company plans to expand its flywheel strategy across creators, content and users, including revamping its CANVAS UGC platform, expanding video formats and developing mega IP.
