S Korea 'webtoon' firms leverage low-cost stories with potential huge upside

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SEOUL : Netflix's most-watched series in late November, 'Hellbound', is making a splash on TV, but it first appeared on much smaller screens as an online comic, or 'webtoon', optimised for smartphones.The webtoon format, which began in Korea two decades ago, has shaken up content creation for the movie in

SEOUL : Netflix's most-watched series in late November,"Hellbound", is making a splash on TV, but it first appeared on much smaller screens as an online comic, or"webtoon", optimised for smartphones.

"If a drama or movie fails, a bunch of people are in the red so they can't experiment in various ways. But here, when we fail, we fail alone. So we can experiment however we want," said Choi Gyu-seok, the artist and co-creator of the"Hellbound" webtoon. For the creators - who on average make 48.4 million won a year - the payoff for getting a webtoon adapted can be huge. Only about 8per cent of creators say their income has been substantially improved by adaptation rights, according to data from the Korea Creative Content Agency.

Naver's Webtoon app and Kakao's Tapas app are No. 2 and 3 in U.S. downloads in Google Play's free comics app category, while in Japan, Piccoma and Line Manga, backed by Kakao and Naver respectively, are No. 1 and 2. Immediate audience reaction in the form of views, payments and comments means webtoons can reflect ongoing trends or attempt ambitious subject material.

 

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