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Abstract

The case 'Naver Webtoons: Redrawing the Comics Industry through a Platform Business Model' discusses the way South-Korea based Naver Webtoon Corp (NW) - a subsidiary of South Korean Internet conglomerate Naver Corporation (Naver) - went about creating a platform business model in the two-century-old comics industry. The case starts out with the factors that drove NW to build a platform to showcase the webtoon comic format. It then documents the various ways in which JunKoo Kim (Kim), CEO of NW, attracted creators and users to NW's webtoon platform and created a webtoon ecosystem. The case provides details of how NW encouraged webtoon creators and ensured a productive platform. The case documents the success of NW's webtoon platform and gives an insight into the ways in which NW monetized it to build a multi-billion dollar business. Furthermore, NW actively pursued opportunities to capitalize on the webtoon's Intellectual Properties (IPs) and got them adapted into movies, TV shows and games. In addition, NW expanded its webtoon platform globally, overcoming language and cultural barriers, ultimately emerging as the largest webtoon platform in the world. Considering the intense competition among various entertainment formats, can Kim ensure that NW's webtoon platform continues to keep up user's attention in the future?

Geographical setting

Region:
Asia
Country:
South Korea

Featured company

Naver Webtoon Corp
Employees:
201-500
Turnover:
KRW 2.255 trillion
Type:
Self-owned
Industry:
Leisure & entertainment
Other keywords:
Naver; Webtoon; Manga; Page profit share; Revenue diversification; Talent search; The Challenge League; Media & entertainment; Freemium; Best challenge league

Featured protagonist

  • JunKoo Kim (male), Founder and Global CEO

About

Abstract

The case 'Naver Webtoons: Redrawing the Comics Industry through a Platform Business Model' discusses the way South-Korea based Naver Webtoon Corp (NW) - a subsidiary of South Korean Internet conglomerate Naver Corporation (Naver) - went about creating a platform business model in the two-century-old comics industry. The case starts out with the factors that drove NW to build a platform to showcase the webtoon comic format. It then documents the various ways in which JunKoo Kim (Kim), CEO of NW, attracted creators and users to NW's webtoon platform and created a webtoon ecosystem. The case provides details of how NW encouraged webtoon creators and ensured a productive platform. The case documents the success of NW's webtoon platform and gives an insight into the ways in which NW monetized it to build a multi-billion dollar business. Furthermore, NW actively pursued opportunities to capitalize on the webtoon's Intellectual Properties (IPs) and got them adapted into movies, TV shows and games. In addition, NW expanded its webtoon platform globally, overcoming language and cultural barriers, ultimately emerging as the largest webtoon platform in the world. Considering the intense competition among various entertainment formats, can Kim ensure that NW's webtoon platform continues to keep up user's attention in the future?

Settings

Geographical setting

Region:
Asia
Country:
South Korea

Featured company

Naver Webtoon Corp
Employees:
201-500
Turnover:
KRW 2.255 trillion
Type:
Self-owned
Industry:
Leisure & entertainment
Other keywords:
Naver; Webtoon; Manga; Page profit share; Revenue diversification; Talent search; The Challenge League; Media & entertainment; Freemium; Best challenge league

Featured protagonist

  • JunKoo Kim (male), Founder and Global CEO

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