This article was originally posted on Comics Beat.
Pretty huge news for digital comics readers: WEBTOON and Disney are teaming up for a new platform expanding on the Marvel Unlimited model. More than 35,000 comics from Marvel, Star Wars, Disney, Pixar and 20th Century Studios will be available on a single platform, with one subscription. And so make it business official, Disney is taking a 2% equity interest in WEBTOON Entertainment.
Disney and WEBTOON recently announced that Marvel, Star Wars and other Disney branded comics would begin appearing on WEBTOON, in the scrolling format. But this is a much larger and bigger collaboration.
News of the deal sent WEBTOON stocks’ searing 55% this afternoon.
“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,” said Josh D’Amaro, Chairman, Disney Experiences. “Through our expanded relationship with WEBTOON, the global leader in digital comics, we’re opening doors to new audiences and deepening fan engagement.”
The new as yet unnamed platform will be built and operated by WEBTOON. Disney and WEBTOON have entered into a non-binding term sheet for the new service – which doesn’t sound like it’s final final, but it was enough for WEBTOON to announce it via a press release this afternoon – and to send those stocks soaring.
The equity deal will give Disney a stake in WEBTOON, although the deal is non binding for now and must clear some paperwork, as both companies are publicly held.
In addition to decades of existing Disney brand related comics, “DISNEYTOON” will include a selection of WEBTOON Original stories. And it will be a mix of both vertical scrolling and traditional page-based comics formats. Current runs are part of the service, but Marvel Unlimited offers a three month wait before digital versions of Marvel become available, so probably no day and date.
“With a new platform that will combine our product and technical expertise with Disney’s full comic catalog, we’re giving new and longtime fans all over the world a new way to discover these legendary characters and stories,” said Junkoo Kim, Founder and CEO, WEBTOON Entertainment. “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.”
Readers who are part of the Disney+ Perks program, Disney+ subscribers will have access to a free, curated selection of comics.
It’s not too hard to see this as Disney’s recognition that scrolling mobile comics are a great way to reach young consumers – some comics will be localized for WEBTOON’S Korean and Japanese platforms, as well, so it’s a chance at global reach. Clearly, more to come.
For more on news and developments in the webtoon business, check out our sister site, KComicsbeat.
