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Webtoons Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Webtoons Market
As per the report, the webtoons market size has grown exponentially in recent years. It will grow from $6.33 billion in 2023 to $8.24 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The webtoons market size is expected to see exponential growth in the next few years. It will grow to $23.94 billion in 2028 at a compound annual growth rate (CAGR) of 30.6%.
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Energizing Development The Mutually Beneficial Association Of Digital Platforms And Webtoons
The rise of digital entertainment platforms is expected to propel the growth of the webtoon market going forward. Digital entertainment platforms refer to online services that provide various forms of entertainment content, such as streaming movies, TV shows, music, podcasts, and video games. The rise in digital entertainment platforms is due to cost efficiency, consumer demand, and enhanced data utilization. Webtoons are utilized in digital platforms for entertainment with a versatile and engaging content form that can attract a broad audience, foster community, offer monetization opportunities, and enhance user experience, in 2023, Netflix (a US-based subscription video-on-demand over-the-top streaming service and webtoons provider) saw a 6.6% year-on-year increase in revenue, reaching $33.7 billion. Additionally, the company's net income rose by 20.4% to $5.4 billion, and its subscriber base expanded to 238.3 million worldwide. Therefore, the rise of digital platforms is driving the growth of the webtoons market.
Creative Serialized Fiction Apps Revolutionizing Webtoon Storytelling
Major companies operating in the webtoons market are focused on developing innovative products, such as serialized fiction apps, to gain a competitive edge. A serialized fiction app is a platform where stories are released in installments, often on a regular schedule, with various features such as push notifications for updates, bookmarking, and community interaction. For instance, in October 2022, NAVER WEBTOON Ltd., a US-based innovative storytelling platform, launched Yonder, a premium, curated app for serialized fiction. The app offers a premium, curated experience featuring hundreds of titles across genres. Yonder works with publishers to revitalize backlists and optimize stories for the platform. The app is free on Android and will soon be available on iOS devices. Yonder uses a pay-what-you-read model, allowing readers to explore and discover stories in a new way.
The webtoons market covered in this report is segmented -
1) By Product: Subscription Based, Advertisement Based
2) By Genre: Action, Science Fiction (Sci-Fi), Horror, Comedy, Romance, Other Genres
3) By Application: Mobile Phone, Personal Computer (PC) Or Notebook, Tablet Computer, Other Applications
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Major companies operating in the webtoons market are NAVER Corporation, Kakao Corporation, Bilibili Inc., KRAFTON Inc., NETMARBLE Corporation, KIDARISTUDIO Inc. , D&C Media Co.Ltd. , Manta Media Inc., Shueisha Inc., Toomics Global Co. Ltd, RIDI Corporation, NHN Comico Corporation, Lezhin Entertainment LLC, Mr. Blue Corporation, Sidewalk Group, TappyToon, Tapas Media, NETCOMICS INC., Webtoon Factory, Foxtoon, Seven Seas Entertainment Inc., Cross Infinite World, Mangatoon HK Limited
Contents of the report:
1. Executive Summary
2. Webtoons Market Report Structure
3. Webtoons Market Trends And Strategies
4. Webtoons Market - Macro Economic Scenario
5. Webtoons Market Size And Growth
…..
27. Webtoons Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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