Korean webtoon IP gains footing in Hollywood, emerging markets

Korean webtoon companies are striking deals with major Hollywood studios and global streaming platforms, converting popular digital comics into films and series as entertainment giants search for commercially proven stories amid shrinking production budgets.

The wave of adaptations reflects a structural shift in how studios manage content risk following the 2023 Hollywood strikes and a prolonged box-office slump — and it marks a growing commercial platform for Korean digital storytelling in global entertainment.

Webtoon Entertainment, the parent company of Naver Webtoon, has secured partnerships with Disney, Prime Video and Warner Bros. Animation, according to The Korea Times. Recent projects include ShootAround — a live-action film adaptation of a webtoon that has accumulated 28 million views globally — and Lore Olympus, an animated series based on a title that won multiple major U.S. comic awards.

The move comes as Hollywood faces mounting structural pressure. Feature film production fell to 94 titles in 2024, a 20% decline from 2019 levels, while box office revenues dropped 23% over the same period, according to CNBC data cited by The Korea Times. Faced with tighter budgets and greater commercial scrutiny, studios have turned increasingly to IP with existing fan bases.

"Global studios are showing strong interest in webtoon IP because the stories already come with well-developed narratives and proven popularity," a webtoon industry official told The Korea Times. The official added that "when globally popular webtoons are adapted into films or series, the existing fandom can help boost early awareness and attract viewers, making them more appealing to production companies."

The expansion extends beyond North American streaming. Kross Pictures, which established an India subsidiary in 2015, produced Love Always — the first officially remade Korean webtoon in India, The Korea Times reported. Love Me, Love Me, adapted from Chasing Red — which has logged more than 261 million reads on Wattpad — debuted at No. 1 globally on Prime Video, illustrating the cross-market appeal of webtoon-based content.

Industry officials expect webtoon adaptations to keep accelerating as studios look to reduce production risk, according to The Korea Times — a trend that has positioned Korean digital comics as a reliable pipeline for global entertainment content.