Webtoon Leisure Inc., which owns standard platforms together with Webtoon, Naver & Wattpad, has introduced its monetary outcomes for the fourth quarter and full yr of 2024 on Feb 25, 2025.
Webtoon Leisure continues to be within the crimson:
Whereas the corporate recorded a 5.1% year-over-year rise in complete income to $1.35 billion in 2024, it nonetheless stays within the crimson, posting a internet lack of $152.9 million. This was greater than the $144.8 million loss which the corporate suffered in 2023.
Within the fourth quarter of 2024 alone, Webtoon Leisure posted a internet lack of $102.6 million, which was greater than the $95.3 million which it had suffered a yr in the past.
The losses suffered had been attributed to elevated prices incurred from going public, increased advertising bills, and impairment losses on goodwill. Regardless of the losses, the corporate is assured of driving progress in 2025.
“2024 was an thrilling yr for WEBTOON Leisure as we grew to become a public firm, increasing the worldwide affect of our creators and IP. We’re proud to have delivered robust monetary leads to 2024 that show our technique is working,” CEO Junkoo Kim stated of their press launch.
“As we glance to 2025, we stay dedicated to driving additional innovation on our platform, introducing new options to boost usability, increasing monetization alternatives for our creators, and bettering content material discovery. I’m assured we have now the correct technique to proceed powering our world flywheel, positioning us effectively to drive additional progress in 2025 and ship long-term worth for our shareholders,” Kim added.
Japan overtakes Korea:
The corporate’s newest monetary report additionally highlighted Japan’s rising contribution to its enterprise.
As talked about earlier Webtoon Leisure’s revenues in 2024 noticed an increase, due to progress throughout its paid content material, promoting, and IP variations. Curiously, Japan surpassed Korea within the revenues that had been generated.
LINE Manga, Webtoon Leisure’s Japanese platform, generated $648.2 million in 2024, making it the corporate’s largest income contributor. Month-to-month lively customers in Japan grew 3.5% to 21.9 million, whereas month-to-month paid customers surged 14.6% to 2.2 million.
In accordance with customers on-line, the corporate’s complete income of $1.35 billion additionally included the sale of Japanese manga. They famous that the gross sales of Webtoons themselves weren’t that top.
Webtoon Leisure Inc. is a worldwide digital comics and storytelling firm headquartered in Los Angeles, California, and owned by Naver Company. Established in 2004, the corporate operates the favored Webtoon platform, which hosts thousands and thousands of authentic webtoons in a number of languages.
It additionally owns different digital storytelling properties, together with LINE Manga and Wattpad, enabling cross-platform content material integration.
The corporate has roughly 170 million month-to-month lively customers and greater than 24 million creators of their roster.
Supply: Search Korea Information, Press Launch
