By Michaela Gordoni
Disney just penned an agreement with Webtoon Entertainment for a new digital comics platform with over 35,000 titles.
Disney looks at the platform as an “expansion” to Marvel Unlimited, Marvel’s current digital comics service that costs $10 per month, Variety reported.
The new subscription service will include Marvel, Star Wars, Disney, Pixar and 20th Century Studios comics. It will also include Webtoon original stories. Webtoon Entertainment will operate and build the platform and will include vertical and traditional formats for archived and current comics.
“By uniting our unparalleled collection of comics across Marvel, Star Wars, Disney, Pixar and 20th Century Studios into a single digital platform, we’re giving fans unprecedented access to the adventures they love — all in one place,” Josh D’Amaro, chairman of Disney Experiences, said. “Through our expanded relationship with Webtoon, the global leader in digital comics, we’re opening doors to new audiences and deepening fan engagement.”
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Webtoon, known for its online comics, has 155 million monthly active users, according to a recent press release.
The companies also have a nonbinding term sheet for Disney to acquire a 2% equity stake in Webtoon Entertainment. The Webtoon company’s stock prices rocketed on Monday, with shares rising by 45%.
Webtoon first went public last year, and its shares have more than doubled in the last three months, according to CNBC.
“The new agreement further validates Webtoon’s platform as the preferred destination for major IP distribution,” said Deutsche Bank analyst Benjamin Black, who called the deal a “material expansion.”
Through the Disney Perks program, Disney+ subscribers will have access to a “curated selection” of comics at no additional charge.
Junkoo Kim, Webtoon Entertainment’s founder and CEO, said fans will have “a new way to discover these legendary characters and stories. Disney’s extraordinary storytelling legacy is second to none, and we’re honored to work with them to build the future of digital comics. This is a powerful next step for our growing global business, and a strong foundation for even greater collaboration with Disney in the years ahead.”
The new experience “will thrill anyone who loves visual storytelling,” added Yongsoo Kim, chief strategy officer and head of global for Webtoon. “By combining Webtoon’s expertise in digital storytelling products with Disney’s unparalleled catalog, we’re bringing some of the world’s most iconic stories to more readers around the world, all in one easy-to-use experience.”
This is a big step for Webtoon and Disney as they further cement themselves in the comic space.
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