Disney and Webtoon Expand Collaboration, Launch Digital Comics Platform

By Philip Seaworth • Tuesday, September 16 10:29 • Permanent Link

The Walt Disney Company (NYSE: DIS) and Webtoon Entertainment (NASDAQ: WBTN) have announced an expansion of their collaboration to develop a new digital comics platform. This platform will offer an extensive collection of over 35,000 digital comic books from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios, all available under one subscription. The new platform, to be operated by Webtoon Entertainment, aims to provide fans with a seamless experience by bringing together a wide range of iconic comics.

As part of this collaboration, Disney+ subscribers will have access to a curated selection of content on the new platform as a part of their subscription. This move is expected to deepen fan engagement and attract new audiences, according to Josh D'Amaro, Chairman of Disney Experiences.

The new digital comics platform will feature a mix of vertical and traditional formats for archived comics, current comic book runs, and original stories, providing an extensive and diverse range of content for fans to explore.

In addition to the commercial collaboration, Disney has also entered into a non-binding term sheet 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.

Junkoo Kim, Founder and CEO of Webtoon Entertainment, expressed enthusiasm about the collaboration, stating that the new platform will combine their product and technical expertise with Disney's full comic catalog, offering fans worldwide a new way to discover legendary characters and stories.

The proposed equity investment and the commercial collaboration are subject to further negotiations and agreements between the two parties. This collaboration marks a significant step for Webtoon Entertainment's global business and sets the stage for continued collaboration with Disney in the future.

The press release did not disclose financial details or the timeline for the launch of the new digital comics platform. Following these announcements, the company's shares moved 5.06%, and are now trading at a price of $14.96. For the full picture, make sure to review WEBTOON Entertainment's 8-K report.

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