WBTN Latest Report

Performance of the Quarterly Report

As of December 31, 2024, Webtoon's total operating revenue reached RMB352,847,000, up 5.34% from RMB334,064,000 in 2023. This growth indicates a slight improvement in revenue, possibly due to increased demand or product line expansion.

Key Data from the Financial Report

1. Webtoon's user base is stable, especially in the Korean and Japanese markets, with a relatively stable number of paying users and a payment rate.

2. The overall market's demand for digital content continues to grow, especially among young users, driving Webtoon's revenue growth.

3. Webtoon launched new tactile digital comics, showcasing its efforts in product diversification, which may attract new users.

4. Although the industry's average growth rate is expected to be between 8%-10%, Webtoon's growth (5.34%) is slightly lower than this level, indicating market competition pressure.

5. Webtoon is shifting its focus to the North American market, which is expected to bring new opportunities for future growth.

Peer Comparison

1. Industry-wide analysis: The digital content industry as a whole showed a growth trend in 2024, especially in the online comics and mobile app markets. According to industry reports, the annual growth rate in this field is expected to be 8%-10%. Webtoon, as a major player in the industry, benefited from this trend, leading to its revenue growth.

2. Peer evaluation analysis: Compared with peers, Webtoon's total operating revenue growth (5.34%) is slightly lower than the industry average. Other competitors like Tapas and MangaPlus may have achieved higher growth rates in 2024, possibly due to more aggressive marketing strategies or richer content ecosystems.

Summary

Webtoon achieved revenue growth in 2024, mainly benefiting from the rising market demand and product diversification. However, its growth rate is slightly lower than the industry average, indicating challenges in the competitive environment.

Opportunities

1. Webtoon can further develop the North American market to attract more new users.

2. Launching innovative products like tactile digital comics can attract different user groups and promote revenue growth.

3. Strengthening marketing and brand promotion can enhance the conversion rate of paying users.

Risks

1. Intensified competition may affect Webtoon's market share, requiring close attention to competitors' moves.

2. Slowing down the growth rate of paying users may lead to future revenue growth pressure.

3. Failure to effectively expand the North American market may miss new growth opportunities.