WEBTOON Entertainment (WBTN) investor relations material

Business overview and growth strategy

• Operates a global storytelling platform with 27 million creators and 155 million monthly active users, focusing on both mature and nascent markets.

• Paid content accounts for 79% of revenue, with Gen Z and young millennials as the primary spenders; advertising and crossover IP represent emerging growth areas.

• Double-digit growth reaffirmed for year-end 2026, driven by strong performance in Korea, recovery in Japan, and expansion in Rest of World.

• Korea remains a mature, dominant market with high engagement, while Japan is regaining momentum after infrastructure upgrades and leadership changes.

• Rest of World markets show early signs of growth, leveraging hit content and partnerships to drive awareness and adoption.

Partnerships and content expansion

• Disney partnership includes adapted and original stories, with a new co-branded platform launching this year.

• Strategic alliances in Japan, such as with McDonald's and Lawson, aim to boost local content and user engagement.

• Announced a slate of 30 animation projects in Japan, with nine set to launch over the next three years.

• Collaboration with Duolingo and hit titles like Fog Land drive user growth and engagement in new markets.

IP adaptation and gaming investments

• $100 million adaptation fund (40% company, 60% Naver) leverages data to selectively invest in proven IP for film, animation, and games.

• Acquired a 60% stake in RI Games Holdings, structuring the deal to de-risk investment and partner with proven game developers.

• Investment in gaming aims to transform hit stories into games, with performance-based milestones and a put option to reduce risk.