Monday, July 15, 2024

Webtoon Executives Discuss How Nasdaq Listing Will Enhance Opportunities in U.S. Market and Benefit Creators With Revenue Sharing Model

Webtoon Entertainment CEO Discusses Nasdaq Listing and Growth Plans

Webtoon Entertainment, known for its popular webcomics platform, has made a big splash with its recent listing on Nasdaq. The company’s CEO, Junkoo Kim, shared that this milestone will open up new opportunities for adapting their IPs into different formats and collaborating with global partners.

On its first trading day, Webtoon closed at $23, a 9.5% increase from its IPO price of $21, with a market capitalization of around $2.9 billion. In an exclusive interview with Deadline, the company’s Chief Strategy Officer, Yongsoo Kim, emphasized the potential for growth in the U.S. market with the new listing.

The Nasdaq listing will not only drive growth but also provide the company with the resources to hire more talent and invest in advertising, data, and technology innovation. With a cash injection of around $315 million from the IPO, Webtoon aims to experiment more with content and enhance its capabilities.

Webtoon Entertainment’s ventures include platforms like Wattpad, Studio N, and Line Manga, with recent high-profile projects such as adaptations of popular titles like “Black Knight” and “Sweet Home” on streaming platforms like Netflix and Disney+.

One of the company’s key strategies is maintaining creative ownership for its global creators, offering revenue sharing models that include factors like advertising revenue and licensing fees. Junkoo Kim highlighted the challenge of generative AI in the webcomics ecosystem and the need to navigate its role in content creation.

Overall, Webtoon’s Nasdaq listing signifies a significant milestone for the company as it looks to expand its reach and continue bringing engaging content to its millions of monthly active users worldwide.

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