Disney and Webtoon Partner to Launch New Digital Comics Platform

By Ahmed Jameison • Tuesday, September 16 06:13 • Permanent Link

The Walt Disney Company (NYSE: DIS) and Webtoon Entertainment (NASDAQ: WBTn) have announced the expansion of their collaboration to develop a new digital comics platform featuring more than 35,000 Marvel, Star Wars, Disney, Pixar, and 20th Century Studios digital comic books. This new platform will provide a curated selection of content to Disney+ subscribers as part of their subscription.

The new digital comics platform, to be built and operated by Webtoon Entertainment, will offer a mix of vertical and traditional formats for archived comics, current comic book runs, and original stories. This platform will not only cater to current Marvel Unlimited subscribers but also aims to attract new fans to experience storytelling from across Disney's portfolio.

Disney+ subscribers will have access to a curated selection of comic titles in the new app at no additional charge as part of the Disney+ perks program.

In addition to the commercial collaboration, Disney and Webtoon Entertainment have entered into a non-binding term sheet for Disney to acquire a 2% equity interest in Webtoon Entertainment, subject to the parties entering into definitive agreements on mutually agreeable terms and customary closing conditions.

Webtoon Entertainment, known for its leading global entertainment platforms, including Webtoon, Wattpad, Studio N, Studio Lico, Line Manga, and Ebookjapan, has approximately 155 million monthly active users.

The Walt Disney Company, a leading diversified international entertainment and media enterprise, had annual revenue of $91.4 billion in its fiscal year 2024.

This expansion of the collaboration and the development of the new digital comics platform reflect the companies' efforts to provide fans with unprecedented access to a wide range of comic content while deepening engagement with their audiences. Following these announcements, the company's shares moved 4.49%, and are now trading at a price of $14.88. For the full picture, make sure to review WEBTOON Entertainment's 8-K report.

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