Disney and WEBTOON announced that they have entered into a non-binding term sheet for the development of an all-new digital comics platform that will feature current comic book runs and include decades of past comics from across Disney’s portfolio, including Marvel, Star Wars, 20th Century Studios, and more.
For the first time, more than 35,000 comics from Marvel, Star Wars, Disney, Pixar, and 20th Century Studios will be available in a single digital comics service with one convenient subscription, adding more stories than ever before in one location. As an expansion upon Marvel Unlimited, Marvel’s current digital comics subscription service, the new platform, which will be built and operated by WEBTOON Entertainment, will provide decades of iconic comics for current Marvel Unlimited subscribers and bring in even more fans to experience storytelling from across the Disney portfolio, along with a selection of WEBTOON Original stories. The new platform will include a mix of vertical and traditional formats for archived comics, current comic book runs, and original stories.
As part of the Disney+ Perks program, Disney+ subscribers who want to further explore the stories behind some of their favorite franchises will be able to access a curated selection of comic titles in the new app at no additional charge.
WEBTOON Entertainment and Disney previously announced a multi-year collaboration featuring nearly 100 reformatted classics and all-new original series tailored for WEBTOON’s vertical-scroll format.
“By uniting our unparalleled collection of comics across Marvel, Star Wars, Disney, Pixar and 20th Century Studios into a single digital platform, we’re giving fans unprecedented access to the adventures they love – all in one place,” said Josh D’Amaro, Chairman, Disney Experiences. “Through our expanded relationship with WEBTOON, the global leader in digital comics, we’re opening doors to new audiences and deepening fan engagement.”
The new digital comics platform will target a wide distribution. Select comics will also be localized for WEBTOON’S Korean and Japanese platforms.
Alongside the planned commercial collaboration, Disney and WEBTOON Entertainment also entered into a non-binding term sheet for Disney to acquire a 2% equity interest in WEBTOON Entertainment. The proposed equity investment and the commercial collaboration are subject to the parties entering into definitive agreements on mutually agreeable terms and customary closing conditions.
“With a new platform that will combine our product and technical expertise with Disney’s full comic catalog, we’re giving new and longtime fans all over the world a new way to discover these legendary characters and stories,” said Junkoo Kim, Founder and CEO, WEBTOON Entertainment. “Disney’s extraordinary storytelling legacy is second to none, and we’re honored to work with them to build the future of digital comics. This is a powerful next step for our growing global business, and a strong foundation for even greater collaboration with Disney in the years ahead.”
Source: Press Release
