The strategy of leveraging established webtoon intellectual properties (IPs) for long-term use, known as 'long-run IP,' is becoming the prevailing formula for success in the webtoon industry. Rather than continuously releasing new titles, companies are focusing on expanding existing works with established fan bases into animations, dramas, and films, thereby nurturing a single IP over several years.
According to industry sources on July 4, this trend is evident in the lineup of popular works on major domestic webtoon platforms. In Naver Webtoon’s domestic popularity rankings, titles like 'Manager Kim' (launched in 2021) and 'True Education' (launched in 2020) continue to hold top positions years after their initial release. The recent adaptation of 'Manager Kim' into a drama exemplifies how the original webtoon IP is being expanded through visual media.
A similar trend is observed on the Kakao Entertainment platform. Works such as 'Solo Leveling' (2016), 'Templar' (2020), and 'Digger King' (2016) are all several years old yet continue to serve as core IPs for the platform.
The strategy for visual adaptations is also shifting towards established long-term IPs rather than new ones. Naver Webtoon’s 'Elexid' (2018) is currently in production for an animated series, while 'Omniscient Reader's Viewpoint' has been adapted into a film. Kakao Entertainment's 'Solo Leveling' is being developed into an animated series and a live-action project for Netflix starring actor Byun Woo-seok, marking it as a prime example of global IP expansion.
Notably, 'Solo Leveling' has transitioned from web novel to webtoon, and now into animation, games, and musicals, accumulating 14.3 billion views as a global hit IP. It is regarded as a quintessential 'long-run IP' model, being reproduced across multiple formats and consumed over an extended period. The industry views it as a case that has maintained a continuous fan base for nearly a decade since its serialization began in 2016.
This trend is spreading beyond individual platforms to the industry as a whole. As the webtoon industry matures, there is a growing tendency to reduce risks and stabilize revenue structures by focusing on already validated IPs rather than continuously discovering new hits.
This shift is also evident at global events. Naver Webtoon is not operating a standalone booth at the ongoing 'Anime Expo' in Los Angeles but is concentrating on participating in the 'Elexid' animation panel. The panel will feature original creators Son Je-ho and Jenna, who will engage with global fans.
In 2023, Naver Webtoon collaborated with McDonald's to set up an exhibition booth, and last year it established its first standalone booth to enhance local marketing. However, this year, the strategy has shifted to focus on participation in events. Naver Webtoon has announced plans to concentrate its efforts on the New York Comic Con (NYCC) scheduled for October in New York City.
Industry experts believe this change signifies a transformation in the IP business structure rather than just a marketing strategy. In the past, the end of a webtoon serialization often meant the effective end of the IP. Now, however, IPs are being extended through adaptations into visual media, games, merchandise, and international distribution, allowing for a longer lifecycle.
However, there are concerns that this expansion of IPs does not always translate into platform success. There are instances where adaptations into dramas or films do not lead to a significant increase in traffic on the original webtoon platform. A notable example is 'Yumi's Cells,' which, despite being successful enough to produce three seasons, did not see a corresponding rise in traffic on its original webtoon platform.
Lee Jae-min, editor at Seoul Webtoon Insight, noted in a report from the Korea Internet & Security Agency (KISA) that “there are numerous cases where the airing of a drama does not necessarily lead to increased usage of the original webtoon platform,” adding that the key challenge moving forward will be how to extend the life of original IPs over the long term and create a sustainable expansion structure post-adaptation.
* This article has been translated by AI.
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