Topcomedia Achieves 23.3 Billion KRW in Sales Last Year, Up 22% Year-on-Year

Topcomedia (CEO Yoo Jung-seok) announced on the 11th its preliminary results, achieving sales of 23.3 billion KRW last year.

Topcomedia's sales in 2024 increased by 21.7% compared to the previous year, and the sales growth trend has continued since the company was acquired in 2022.

A representative from Topcomedia stated, "The growth trend became more pronounced starting in 2024 as we released works planned by our affiliate Toptoon Japan's in-house studio. The webtoon 'Setup,' which has been published since August last year, recorded 24 million views in Japan during January alone, surpassing a cumulative 70 million views. We also plan to sequentially open various new works this year."

Additionally, this year marks the first year since Topcomedia merged with its affiliate 'Toptoon,' and the company announced plans to maximize sales and profits and strengthen market competitiveness following the merger with Toptoon.

Toptoon is a company spun off from Topco, the largest shareholder of Topcomedia, and operates a domestic webtoon platform. Toptoon achieved sales of 71 billion KRW and operating profit of 20 billion KRW in 2023, and recorded sales of 66.9 billion KRW and operating profit of 11.9 billion KRW in 2023.

Baek Joon-gi, a researcher at NH Investment & Securities, analyzed, "We expect Topcomedia's consolidated sales and operating profit after the merger to be 78 billion KRW and 11.6 billion KRW, respectively. As of January, Toptoon Japan, which has 4 million cumulative subscribers on its own platform, is expected to grow rapidly after the merger."

Topcomedia CEO Yoo Jung-seok said, "We are seeing results from our aggressive marketing strategies to expand market share and will further strengthen our position in the Japanese market. Although global companies are aggressively pursuing marketing strategies, causing our turnaround to profitability to be delayed beyond plans due to ongoing investments to respond, we plan to show visible results with the 2025 merger with Toptoon and our employees will do their best to enhance shareholder value."

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