Even after the end of the pandemic, K-comics and secondary IP business are expected to remain strong ↑

Analysis of content industry trends in the first half of 2023
Total sales increased by 2.5% compared to the previous year
Intensifying competition among content, will it lead to industry stagnation?

It was revealed that the domestic content industry was almost completely unaffected by the COVID-19 pandemic. This is because both sales and exports in the first half of last year showed an increase compared to the same period last year. The comics industry, including webtoons, has recorded a significant increase in exports and is at the forefront of K-content’s overseas expansion.

Sales growth is driven by publishing, and comics stand out in exports

According to the Korea Creative Content Agency on the 5th, sales of the domestic content industry in a total of 2023 fields in the first half of 11 were calculated to be 69 trillion won. This is an increase of approximately 3,009% compared to the same period last year (KRW 67 trillion). Publishing sales accounted for the largest proportion (5,882%) at KRW 2.5 trillion, followed by broadcasting (KRW 12 trillion, 1,360%), knowledge information (KRW 17.5 trillion, 11%), and advertising (KRW 9,980 trillion). ·17.3%) followed by others. Music recorded sales of KRW 9 trillion, accounting for 9,720% of total sales, and comics accounted for 14.4% of total sales, with sales of KRW 9 trillion.

Compared to last year, the field that saw the biggest jump in sales was music (15.2%), while movies (12.3%), animation (8.6%), knowledge information (8.6%), and comics (6.0%) also showed upward growth, escaping from the impact of the pandemic. showed movement. In particular, in the case of the music industry, sales of various goods such as albums, pictorials, and photo cards targeting the vast K-POP fandom increased, leading to significant growth led by large entertainment companies. However, the publishing (-1.1%), character (-7.5), and game (-10.9) industries recorded negative growth.

In the first half of last year, content industry exports amounted to $53 million (about 8,597 trillion won), a 7% increase compared to the same period last year ($664 billion, about 53 trillion won). Game exports were the largest at $1,714 billion (approximately KRW 6 trillion, 9,760%), while cartoons recorded approximately $1.3 million (approximately KRW 34 billion). Although comics accounted for only 4,600% of total exports, they showed an overwhelming growth rate of 4% compared to the previous year.

Due to such rapid growth, there are also concerns that the comics industry will enter a period of stagnation. The Korea Creative Content Agency explained, “Consumption of comics and webtoons has surged due to the pandemic, and the market size, including sales, has increased significantly during this period,” adding, “However, various contents such as videos, games, and web novels that have grown together at a similar time have increased significantly.” “We cannot rule out the possibility that a period of stagnation will begin as competition intensifies.”

The Korea Creative Content Agency’s ‘Content Industry Trend Analysis Report for the First Half of 2023’, which contains such content, includes the results of a survey of 11 businesses in 1,500 fields of the domestic content industry and data analysis of 159 listed companies in related industries. It contains major industry trends, such as employment.

77% of Naver Webtoon users enjoy K-Webtoon overseas

The industry expressed its stance that it is not overly concerned about a plateau as K-comic export growth continues steadily even after the end of the pandemic. There were some concerns that the webtoon industry, which has grown rapidly since 2020, would enter a downward trend due to the end of COVID-19 and increased outdoor activities, but it is still evaluated to be healthy.

In fact, our comics industry, which had raised the perception that it was the so-called ‘finish’ by recording sales of KRW 2022 trillion in the second half of 1, down 1,631% compared to the same period last year (KRW 1 trillion), succeeded in rebounding immediately in the first half of 478, and comics industry Those working in the field are also maintaining an upward trend in both the second half of 1.1 (2023%) and the first half of 2022 (23.6%).

Naver Webtoon supports K-Webtoon in 10 languages ​​and exports it all over the world, and is considered a leading player in the revival of the Korean comics industry. Naver Webtoon’s ‘PPS (Partners Profit Share)’ program, a creator profit diversification model that was first launched in March 2013, only recorded sales of about 3 billion won in the first year of launch, but sales reached about 2 trillion won in 232, the first in 2022 years. It grew about 2 times.

As of last year, 8,900% of Naver Webtoon’s total of about 77 million users enjoyed K-Webtoon overseas, not domestically. A Naver Webtoon official said, “As domestic webtoons expand into the global market, their value as intellectual property rights (IPs) is further strengthened. Based on this, the number of businesses that utilize IPs in various ways is expected to increase, and domestic artists’ profits will also increase.” “It will increase,” he said.