Los Angeles and Seoul, December 5, 2022 – K-Drama, K-Pop, K-Beauty – and now K-Comics – are fast becoming America's latest Korean pop culture phenomenon. Tappytoon, a leading global Korean webtoon and web novel content platform, today announced several significant achievements. As of November 2022, the platform hit 7 million registered members, with the US representing 78.6% (approximately 5.5 million members) of its readership. Tappytoon has also exceeded 380 million views globally on its internet platform and mobile app.
Americans' growing enthusiasm and consumption of Korean entertainment, digital content, and K-Comics, aka manhwa, have contributed to Tappytoon's 200% average annual sales growth and its #1 ranking in Android and Apple's app comics category in North America and Europe--just two years after its 2016 launch. Gen Z accounts for Tappytoon's most significant audience slice, with 71% of its readers between 18-24 years old and 74% identifying as female. A key factor driving interest among this audience is the variety of genres available on Tappytoon's platform, including fantasy, martial arts such as Solo Leveling, BL (Boy's Love), female-oriented romance fantasy, and K-Drama adaptations. This diverse range of stories breaks away from the familiar costumed superheroes of American comics.
"When we launched Tappytoon, Korean comics and webtoons were already gaining popularity. We saw the need for high-quality, vetted translations, which led us to create a platform for webtoon fans worldwide to immerse themselves in these stories," said Sun Bang, co-founder and CEO of Tappytoon. "Fast forward to today and we're astonished by Tappytoon's growth and the new opportunities to expand our content footprint with our partners."
The global webtoon market was valued at $3.7 billion in 2021 and is projected to reach $56 billion by 2030 (source: Allied Market Research). According to a New York Times article, demand for vertical scrolling comics is exploding among millennials, Gen Zers, and females.
Partnerships and focused content strategy to further accelerate growth in subscriber base
In addition to massive user growth, Tappytoon is ramping up content production through acquisitions, partnerships, and investments. The platform plans to increase IP productions by an average of 30% yearly. It completed investments in and acquisitions of global webtoon production companies C&C Revolution and Maru Comics and set up a new joint venture with Redice Studio, producers of Solo Leveling and BTS webtoon 7Fates: Chakho, called Studio Alive to create original content. With leading entertainment company CJ ENM, Tappytoon finalized an agreement to convert K-dramas into webtoons and web novels.
According to Yujin Chang, CEO at Redice,
"We've seen firsthand with our hit Solo Leveling that readers around the globe are clamoring for new, well-made stories from Korea. We're thrilled to shake up the global comics landscape with Tappytoon as our trusted partner on many exciting ventures."
Do you use Tappytoons? What are your favorite webtoons these days. Let us know @KpopWise!