Global Webtoons Market Report and Forecast 2024-2032

Global Webtoons Market Size

The global webtoons market value reached approximately USD 5.55 billion in 2023. The market is projected to grow at a CAGR of 18.6% between 2024 and 2032, reaching a value of around USD 25.82 billion by 2032.

Global Webtoons Market Growth

Webtoons are digital comics or graphic novels available online, and accessible on smartphones, tablets, computers, and televisions. Originating from South Korea, these webcomics feature a wide range of genres and themes to appeal to a diverse audience. The rise of smartphones and tablets has significantly boosted their popularity, as the vertical, scroll-down format suits these devices well, boosting the demand of the webtoons market.

The global shift to digital media consumption is a key driver of the webtoons market's growth. The extensive use of smartphones, tablets, and high-speed internet has made digital content, including webtoons, widely accessible to a large audience.

The growth of the webtoons market is being boosted by younger generations' inclination towards on-demand, mobile-friendly content. Webtoons fulfil this demand by providing accessible, engaging, and interactive entertainment. They span a broad array of genres and themes, attracting a diverse range of demographics and interests. Additionally, the platform fosters diverse voices, enabling creators from different backgrounds to share their stories.

Global Webtoons Industry Outlook

The strong growth in the digital cartoon market highlights the increasing preference for digital formats and evolving consumer engagement with digital media. This trend highlights the sector's potential and resilience, positioning digital cartoons as a significant driver of the webtoons industry revenue.

Additional industry reports show that global television volume remained steady at around 230 million units in 2020 and 2021. Projections indicate a gradual increase, reaching approximately 240 million units by 2025 and continuing to rise through 2029. This consistent performance highlights the enduring demand for televisions worldwide, driven by technological advancements, increased digital content consumption, and the growing popularity of smart TVs, further boosting demand for webtoons.

Advertising revenue is expected to surpass both consumer spending and internet access to become the largest category by 2025, thus driving webtoons market revenue.

Webtoons are readily available on smartphones and digital devices, allowing readers to enjoy content, which boosts engagement and readership further boosting the webtoons industry.

• The market offers a wide array of genres and styles, appealing to diverse age groups and interests, attracting a broad audience, and fostering market growth.

• Many webtoons feature animations, sound effects, and user comments, enhancing the reading experience and building a strong, engaged community thus boosting the growth of the webtoons industry.

Generating revenue from webtoons, despite their large audiences, can present challenges. Revenue primarily relies on advertisements, subscriptions, and microtransactions, which may not always suffice for all creators.

• The digital nature of webtoons exposes them to risks such as piracy and unauthorised distribution, which can significantly undermine the earnings and rights of creators and publishers.

• The rapid growth of the webtoon market has resulted in an oversupply of content, posing difficulties for new and less established creators to establish visibility and attract readers.

With growing internet access and smartphone usage worldwide, webtoons can reach new, untapped markets, driving webtoons market growth and diversification.

• Popular webtoons can be adapted into other media forms like TV shows, movies, and merchandise, creating additional revenue streams and expanding their audience.

• Advances in digital technology, such as AI and VR, can be used to create more immersive and personalized reading experiences, attracting more users, and enhancing engagement.

The webtoons market is highly competitive, with many platforms and creators competing for audience attention, making it difficult for individual webtoons to stand out.

• Various nations enforce diverse regulations on digital content, potentially complicating distribution, and restricting webtoons' availability in specific regions.

• Evolving consumer tastes and preferences can influence the appeal of webtoons, necessitating ongoing adaptation and innovation from creators and platforms to maintain relevance.

Key Players in the Global Webtoons Market and their Key Initiatives

Marvel Entertainment, LLC

• Marvel Entertainment, LLC partnered with Korean webtoon platform Naver Webtoon.

• The company introduced several popular characters and storylines to the webtoon in order to meet the demand of the webtoons market.

SideWalk Group

• SideWalk Group launched a partnership with top webtoon platforms.

• Invested in AI-driven personalization technology to optimize user experience and content recommendations.

Izneo Company

• Izneo expanded its global reach by launching partnerships with major South Korean webtoon publishers.

• The company introduced a subscription model offering exclusive webtoon content and ad-free reading.

Kakao Entertainment Co., Ltd.

• Kakao Entertainment Co., Ltd. expanded its global footprint by launching the Kakao Webtoon service in Thailand and Taiwan. 

• The company aimed to improve its position in the webtoons industry by partnering with international creators and local content providers.

Toomics Global Co., Ltd

• Toomics Global Co., Ltd. launched a premium subscription model.

• The company expanded its international reach by collaborating with local creators and platforms.

Global Webtoons Industry Segmentation

“Global Webtoons Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Genre

• Comedy

• Action

• Sci-Fic

• Romance

• Horror

• Others

Market Breakup by Revenue Model

• Subscription Based

• Advertisement Based

Market Breakup by Device Type

• Mobile

• Television

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Webtoons Market Share

The webtoon market growth is being driven by the rising popularity of the romance genre that resonates across cultures and age groups, making it universally appealing. The themes of love, relationships, and emotional connections are relatable to a vast audience, ensuring a broad reader base. The romance genre in webtoons encompasses a variety of sub-genres and themes, including contemporary romance, historical romance, fantasy romance, and romantic comedy; this diversity attracts a wide range of readers with different tastes and preferences.

Webtoons market dynamics and trends are being bolstered by genres such as comedy and romance that have universal appeal. Everyone enjoys a good laugh, and comedic content can attract a wide and diverse audience as the humour often transcends cultural and language barriers, especially when visual gags and situational comedy are involved. In a fast-paced and often stressful modern lifestyle, readers seek light-hearted entertainment that offers a break from their daily routines and comedy webtoons provide this by offering humorous content that can lighten moods and offer a form of escapism.

As per the webtoons industry analysis, mobile occupies a significant portion of the webtoons market share due to the increased adoption of smartphones worldwide. It is a primary platform among readers to access webtoons anytime and anywhere. Moreover, market players are enhancing the reading experience on mobile applications by providing offline reading and in-app offers, discounts, and sales. Additionally, it proves itself instrumental in improving reader engagement through comments, community discussions, and sharing, thus boosting the webtoons market demand.

Leading Companies in the Webtoons Market

Major players in the webtoons market are increasing their collaborative efforts and adapting popular web novels into webtoons to leverage an existing fan community.

• Marvel Entertainment, LLC, 

• SideWalk Group

• Izneo Company

• Kakao Entertainment Co., Ltd

• Lezhin Entertainment, LLC

• Naver Webtoon Limited

• Kidari Studio Co., Ltd., 

• Contents First, Inc. (Tappytoon)

• Toomics Global Co., Ltd

• RIDI Corporation

Key Highlights of the Report

Webtoons Market Report Snapshots

Webtoons Market Size

Webtoons Market Growth

Webtoons Market Share

Webtoons Companies