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Games & Commerce

Webtoons look for breakthrough in short-form as growth slows and battle for attention intensifies

Major South Korean webtoon platforms are moving into short-form content as growth slows and competition for users’ time intensifies. Kakao Piccoma is adding a short-form animation category on Japan’s Piccoma, while Naver Webtoon, Ridi and Lezhin Entertainment are building their own approaches. The strategy aims to repackage webtoon and comic intellectual property into short videos to broaden touchpoints and drive paid conversion, with monetisation and revenue sharing emerging as key challenges.

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 partners with Genies to introduce 3D avatars of webtoon characters

Webtoon Entertainment said it signed a strategic partnership on April 27 with U.S. AI avatar technology company Genies to develop digital experience services using webtoon characters. The partnership aims to offer immersive fan experiences beyond reading, allowing fans to interact with characters and explore story worlds. Creators can opt to present their characters as 3D avatars. Pilot services will launch this year on Naver Webtoon’s English platform, Webtoon.