Naver Webtoon Loved Even by Parisians

Gaining Popularity Following Japan and North American Markets
Positive Signs for Entry into Europe

[Asia Economy Reporter Buaeri] Chloe Dueheng, who works in publishing in Paris, France, is currently hooked on the Naver Webtoon "Remarriage Empress." Dueheng said, "At first, I was intrigued that a Korean author created a story set in medieval Europe, but the story is so interesting that I now follow it regularly." France is a major comic powerhouse in Europe, and Parisians have very discerning tastes. It is in such a place that Naver Webtoon is achieving success. Since the launch of the French version of Naver Webtoon last December, its popularity has lit a 'green light' for future expansion into Europe.

◆ Number One in Downloads for a Month= According to mobile data and analytics platform App Annie on the 18th, the French version of Naver Webtoon has maintained the number one spot in downloads in the comics category on Google Play France for a month since February. France is the second largest comic market in Europe, and according to the Korea Creative Content Agency, the French comic market size is expected to reach $264 million (approximately 323.9 billion KRW) this year. Naver plans to expand its presence in the European market starting with France. Kim Sol, leader of Naver Webtoon's French division, said, "We have secured a strong lineup of works preferred by Western readers, and as these works receive positive responses, Naver Webtoon is quickly establishing itself in France. France has many high-quality comic artists with diverse styles, and if we actively collaborate with local creators, webtoons have great potential for continuous growth."

Naver Webtoon has solidified its global position by achieving success in Japan and the North American markets before France. Naver Webtoon's global monthly active users (MAU) reach 60 million. In Japan, Naver Webtoon's Japanese service "LINE Manga" ranked first in downloads among integrated comic applications on both Google Play and Apple. Japan's MAU also shows an annual growth rate of 32%. In the North American market, MAU surpassed 10 million last November and continues to grow steadily with an annual growth rate of 71%.

◆ Webtoons as a Platform for Global Growth= Naver declared this year as the "Year of Global Growth for Webtoons." To this end, it has invested a total of 430.5 billion KRW, including a 90 billion KRW capital injection. Han Seong-sook, CEO of Naver, stated, "Naver Webtoon is strengthening its global leadership based on its unrivaled position domestically," adding, "We will continue to challenge ourselves to become a true global leader by ranking first in major countries worldwide."

Naver's special focus on overseas expansion of webtoons is due to the growth potential of the global webtoon market. According to the National IT Industry Promotion Agency, the global digital comics market is expected to grow at an annual rate of 8.1% until 2022, reaching $1.345 billion (approximately 1.6482 trillion KRW). The potential for business expansion using webtoon intellectual property (IP) in movies, dramas, and other areas is also vast. A Naver official explained, "Previously, revenue models were based on paid content and advertising, but nowadays, various revenue models through IP business are being applied. If global entertainment potential is recognized overseas, revenue generation through content is expected to expand." In this regard, Naver Webtoon established "Studio N" to actively enter the webtoon-based content market. Recently, Naver Webtoon's "Sweet Home" was produced as an original series and is scheduled to be aired on the global online video service (OTT) Netflix.

Professor Lee Byung-min of Konkuk University's Department of Cultural Contents said, "Webtoons have recently expanded into movies and dramas, making it very easy to multiply profits," adding, "Platforms like Naver have grown to a certain extent in the Asian market and have already been recognized for their influence, so simply adding content to the platform greatly reduces (business) risks."

This content was produced with the assistance of AI translation services.