Naver Webtoon's U.S. headquarters, WEBTOON Entertainment, and The Walt Disney Company (Disney) said on the 16th that they signed a non-binding term sheet to develop a new digital comics platform where users can watch Disney's past and latest comics in one place.
Through this collaboration, fans will, for the first time, be able to enjoy more than 35,800 comics from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios in a single subscription service. WEBTOON Entertainment will develop and operate the new platform, which will offer not only Disney's flagship titles but also select original series serialized on the English service of WEBTOON Entertainment's global platform "WEBTOON." It will also support both vertical scroll and traditional comic formats.
Disney+ subscribers will be able to access select titles on the new platform at no additional cost. The service targets global distribution, and some titles will be localized and made available on WEBTOON Entertainment's Korean and Japanese services.
WEBTOON Entertainment and Disney said last month that they had announced a global content partnership to present about 100 flagship Disney franchise titles as vertical-scroll webtoons. The new agreement strengthens the collaboration.
Josh D'Amaro, chairman of Disney Experiences, said, "We are thrilled to offer the unparalleled comics collection of Marvel, Star Wars, Disney, Pixar, and 20th Century Studios on a single platform, creating an unprecedented opportunity for fans," adding, "Through our collaboration with WEBTOON Entertainment, we will reach new readers and deepen engagement with fans."
The two companies also signed a non-binding term sheet for Disney to acquire a 2% equity stake in WEBTOON Entertainment. The equity investment and platform development collaboration are subject to the completion of customary procedures for signing definitive agreements and closing the transaction.
Kim Jun-koo, CEO of WEBTOON Entertainment and Naver Webtoon, said, "The new platform will combine our product and technology expertise with Disney's vast catalog to deliver a new experience to fans worldwide," adding, "We are honored to help shape the future of digital comics with Disney, and this collaboration will serve as a key springboard for global business growth and lead to even greater partnerships ahead."