The global webtoons market size was worth USD 3.85 billion in 2021 and is estimated to grow to USD 34 billion by 2028, with a CAGR of approximately 36.50 percent over the forecast years.
The webtoon is one of the representative forms of popular culture that show how digital culture is being adopted globally due to the growth of transnational digital networks. Due to their vertical style, which is easier to scan on modern devices than older comics and manga that are supposed to be read like books, webtoons quickly gained popularity as smartphones became more widespread in society. Due to their distinctive qualities and user-friendly design, webtoons are growing in popularity, which is anticipated to fuel the market’s expansion. Over the years, webtoons have developed dramatically as a “snack-culture” format tailored for smartphones, and they now boast the most competitive platform/content in the world. Webtoons are drawing more users’ attention, and money as the need for mobile entertainment rises, offering webtoons platform providers a sizable potential market. These are the main elements projected to increase the market opportunity for webtoons during the study period. Additionally, the use of visual effects technology is growing in recent comedic webtoon movies, which is anticipated to positively affect the growth of the global market’s revenue.
Customers have shifted significantly toward online channels during the pandemic, and businesses and sectors have responded. The survey’s findings support the quick move toward client communication through digital media. Additionally, they demonstrate that adoption rates are not just years ahead of where they were in earlier surveys but are also greater in developed Asia than in other regions. As a result, there has been an increase in the consumption of digital webtoon content since it helps people feel less anxious and stressed out, especially those who are in lockdown.
The development of webtoons was made possible by digital infrastructure in broadband Internet distribution, speed, and smartphone transmission. Webtoons are attracting more users’ attention as mobile entertainment needs rise, providing a sizable opportunity for Korean platform providers. A significant portion of the South Korean region’s growing internet user population is responsible for the market’s explosive growth. According to industry statistics, South Korea’s population in January 2021 was 53.59 million. The traditional media and entertainment industries are changing due to networks, platforms, and digital technology. This is the main element driving the market during the anticipated era.
Most webtoons are short, so there aren’t enough chapters to produce a print edition. Webtoons can only be read online. Readers are disappointed by the quality and level of webtoons’ stories since many of the illustrators used by webtoons programmers are amateurs. The demand for webtoons is significantly influenced by additional economic factors, including inflation, income inequality, employment rate, demographics, GDP growth, etc. Spending on entertainment is typically higher for those with more disposable money. People in developing nations are price-conscious and favor making smaller entertainment expenditures. However, India has one of the best media businesses, and it is expected to expand more in the children’s genre owing to an enormous population of youth. All of these restrictions are anticipated to decrease the popularity of web cartoons.
The global webtoons market has been segmented into type, revenue model, and application.
Based on types, the market is divided into comedy, action, sci-fi, horror, romance, and others. Among these, the comedy segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. The webtoons and digital webtoons sectors are increasing. The worldwide webtoons market revenue growth is primarily driven by the digital comedy webtoon market and technological improvements in the communication and television industries. Besides, the romance category is anticipated to grow at a significant rate. With romance being one of the most popular genres, romance webtoons are steadily gaining popularity as a platform for reading online comics and watching webtoons. Most of the top-rated cartoons on the app, which has been the main driver of new users, have also come from the romance category.
Based on the revenue model, the market is classified into subscription-based and adds bases. In 2021, the subscription-based dominated the global market. Almost every industry uses subscription-based business models, including the food and internet sectors. When a customer subscribes to your product or service, you can generate recurring revenue from a group of devoted customers by charging them a fee regularly for access. Besides, the adds bases category is anticipated to grow significantly. The mobile web and internet have transformed existing cartoons into a new type of webtoon, and webtoon cartoons have attracted a lot of interest from corporations and Internet users. Webtoons are a relatively new trend in terms of communicating with customers. A webtoon’s content can expand thanks to webtoon commercials, which are becoming increasingly popular as a lighthearted way to increase corporate marketing.
In 2021, the Asia Pacific dominated the market for webtoons. The webtoons platform has gained enormous traction in Asia, with the top webtoons apps luring more than 70 million monthly users and producing more than 100 billion views annually. In addition, the region’s substantial youth population has increased the number of people who read digital comics, which has helped the industry to flourish. For instance, the Central and Southern Asia region has the most children globally, 361 million, according to the United Nations Department of Economic and Social Affairs, which reported this in August 2019. The popularity of Japanese amine is also anticipated to boost demand for webtoons.
Some of the main competitors dominating the global webtoons market include- NHN COMICO CORP, SIDEWALK GROUP, MARVEL UNLIMITED, Naver webtoon Corp, Kakao Corp., Lezhin Entertainment, TAPPYTOON, BOMTOON, DAUM WEBTOON AND COMPANY, IZNEO WEBTOON.
Webtoons Market by Types
Webtoons Market by Revenue Model
Webtoons Market by Application
Webtoons Market by Region
Webtoons Market Report Scope | |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 5.25 billion |
| Revenue Forecast in 2028 | USD 34 billion |
| Growth Rate | CAGR of 36.5 % from 2022 to 2028 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 – 2021 |
| Forecast Years | 2022 – 2028 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2028 |
| Report Coverage | Revenue forecast, company ranking, Trends competitive landscape, and growth factors |
| Segments Covered | Types, Revenue Model, Application, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | NHN COMICO CORP, SIDEWALK GROUP, MARVEL UNLIMITED, Naver webtoon Corp, Kakao Corp., Lezhin Entertainment, TAPPYTOON, BOMTOON, DAUM WEBTOON AND COMPANY, IZNEO WEBTOON. |
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