The Korean tech giant Naver, which owns the popular mobile online comics platform Webtoon, just announced how much it will pay English-language comics creators. The results are surprising in an industry that isn’t known for being kind to artists and writers. Since 2020, Webtoon has paid out more than $27 million to English-language creators, which is more than $1 million per month on average. Since it started its program to pay creators in the US in 2019, that’s an increase of nearly 75%.
These results are in line with Webtoon’s huge growth over the past few years. The company just announced that its app has more than 82 million monthly active users worldwide, including 15 million in the US.
When users sign up for serialized stories, the creators get paid. For a small monthly fee, subscribers can watch new episodes before anyone else. The most popular things on the site, like Lore Olympus by Rachel Smyth, get a lot of views and subscribers. The top-earning creator made more than $9 million last year in Webtoon’s home country of South Korea, where the market for this kind of content and business model is more developed.
Ken Kim, CEO of Webtoon Americas, said that some of the people who make Webtoons are some of the most talented, creative, and interesting people in the history of comics. “Our technology platform for telling stories helps every kind of creator build an audience around the world and make money from their work.” At a time when comics have never been more popular, we’re very proud of the creator economy and ecosystem we’ve built to support and celebrate webtoon creators.
As with any platform, there is a power curve: a few of the best features bring in most of the money, views, and subscribers, while a long tail of content brings in much less. But Webtoon Global CEO Junkoo Kim said last year that even on average, some South Korean creators were making six figures (USD) using the same model that the company uses in the US.
Webtoon uses advanced data analytics to help connect audiences with new work and creators, with the goal of making more titles into best sellers. The company also gives creators other ways to make money, such as TV, book, and movie deals through Wattpad Webtoon Studios and deals with publishers and licensors. MORE
I'm an enthusiast and expert in the field of digital content platforms, particularly online comics and webtoons. My depth of knowledge stems from closely following industry trends, analyzing user engagement metrics, and understanding the intricacies of content creation and monetization within these platforms.
The recent announcement by Naver, the Korean tech giant that owns Webtoon, is indeed a groundbreaking development in the world of online comics. The disclosed figure of over $27 million paid out to English-language creators since 2020 showcases Webtoon's commitment to supporting artists and writers, a deviation from the industry norm. My expertise allows me to contextualize this information within the broader landscape of the digital content industry.
Webtoon's impressive growth, as evidenced by the revelation of 82 million monthly active users worldwide, with 15 million in the US alone, is a testament to the platform's global appeal. The model of compensating creators based on user engagement, such as subscribers paying a monthly fee to access new episodes before others, aligns with current trends in digital content consumption.
Key to Webtoon's success is its understanding of the power curve inherent in any content platform. By acknowledging that a few standout features attract the majority of revenue and viewership, Webtoon can strategically leverage its platform to support both top-earning creators and those further down the curve. This aligns with CEO Junkoo Kim's statement about South Korean creators making six figures on average, emphasizing the potential for financial success for creators using the platform.
The advanced use of data analytics by Webtoon is a crucial aspect of its strategy. By employing these tools, the platform can effectively connect audiences with new content and creators, increasing the likelihood of turning titles into best sellers. Furthermore, Webtoon's multifaceted approach to monetization, including TV, book, and movie deals through Wattpad Webtoon Studios, as well as collaborations with publishers and licensors, demonstrates a comprehensive business model that extends beyond the digital realm.
In conclusion, the success of Webtoon and its positive impact on creators exemplify the evolution of the comics industry in the digital age. As the CEO of Webtoon Americas, Ken Kim, rightly points out, the platform's technology is not only helping creators build global audiences but also enabling them to monetize their work effectively. This development is particularly significant at a time when the popularity of comics is on the rise, and Webtoon stands at the forefront of the creator economy and ecosystem in this dynamic landscape.
