[Asia Economy Reporter Park Hyungsoo] Mobile casual game company Metoozen announced on the 16th that it has signed a contract to acquire a 51% stake in Bluepic, a specialized content production company for web novels and webtoons, for 8.8 billion KRW. Metoozen will incorporate Bluepic as a subsidiary and expand its content production business including webtoons and web novels.
Founded in 2021, Bluepic specializes in producing webtoon and web novel content. It distributes original content on webtoon platforms such as Naver Webtoon and Kakao Page. It has supplied original IP-based webtoons like "Tutorial Tower's Veteran" and "FFF-Class Interest Hero," as well as web novels such as "How to Live as a Wizard at a Magic School" and "The Constellation Who Returned from Hell." Bluepic recorded total sales of 12.1 billion KRW and an operating profit of 1.2 billion KRW last year.
Bluepic’s popular work "Tutorial Tower's Veteran" is a webtoon adapted from a web novel. It is gaining popularity on Naver Webtoon. Last year, it also received positive responses on Japan’s Naver Manga and North America’s Naver Webtoon. Bluepic possesses strong capabilities in producing popular webtoons and competitive original IP.
Based on Metoozen’s investment, Bluepic plans to expand its webtoon studio and increase key personnel to secure additional original content. It aims to enhance its production capabilities by creating high-quality works. The company also plans to utilize its webtoon IP to produce content that can attract attention in overseas markets.
Bluepic CEO Won Jongwoo said, "We will expand overseas business in line with the growth of the K-webtoon industry together with the Metoon Group," and added, "We will create mutual synergy using the IP that Bluepic holds."
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Metoozen CEO Son Changwook explained, "Through subsidiaries Mitun & Novel and Bluepic, Metoozen can secure, directly produce, and distribute its own content based on webtoons and web novels," and said, "We will expand the webtoon business as a K-content company." He continued, "We will further enhance our capabilities based on Bluepic’s popular IP, which ranks number one on certain days even in overseas markets," emphasizing, "We will produce OTT web dramas and web movies utilizing the webtoon and web novel IP owned by Bluepic."
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