Soosung Webtoon reported a consolidated revenue of 62.8 billion won and an operating profit of 6 billion won for the first half of the year (January to June) on the 13th. Revenue increased by 131% compared to the same period last year, and the operating profit turned into the black.
Its major subsidiary, the global webtoon platform Toomics, generated a revenue of 26.1 billion won and an operating profit of 5.2 billion won in the first half of the year. This represents increases of 12.5% and 13.0%, respectively, compared to the same period last year. Toomics currently offers services in 11 languages, with overseas revenue accounting for over 80%. The global membership is approximately 60 million, of which about 25 million are English-speaking members.
The webtoon production company Terapin, acquired earlier this year, also contributed to the performance improvement. It recorded an operating profit of 400 million won in the first half of the year. Terapin owns over 200 works in various genres, including BL (Boys' Love), romance fantasy, and adult themes. It is providing original intellectual property (IP) in a stable manner in collaboration with Toomics. Terapin is enhancing vertical integration in production and distribution by webtoonizing its owned web novel IP for exclusive serialization.
Soosung Webtoon set a goal of 145.4 billion won in annual revenue and 17.8 billion won in operating profit for this year through its performance forecast disclosure in January. It achieved 43% of its sales target by the end of the first half.
A representative from Soosung Webtoon said, "The growth of Toomics' overseas revenue and the expansion of original IP from Terapin have driven the performance improvement," adding, "In the second half, we will establish a foundation for long-term growth through strengthening subsidiary competitiveness and investing in new businesses."