Wattpad and WEBTOON unite the studio's divisions in one ensemble of fan-driven entertainment

Wattpad, the global cross-platform entertainment company for original stories and leading social storytelling platform, and WEBTOON, the world's largest digital comic platform, announced today that the companies will combine their studio divisions to create WEBTOON Studios Wattpad. Leveraging WEBTOON's global fandoms and Wattpad's combined audience of more than 166 million people, Wattpad WEBTOON Studios will create an innovative multi-format studio that makes data-driven TV shows, movies and books, and global fans.

Naver, parent company of WEBTOON and Wattpad, will pledge $ 100 million to Wattpad WEBTOON Studios for the development and financing of the production. South Korean internet conglomerate Naver recently acquired Wattpad in a transaction estimated at more than $ 600 million.

Having launched and built the Wattpad Studios brand since 2017, Aaron Levitz will enter the role of President of Wattpad WEBTOON Studios. Taylor grant will lead the WEBTOON entertainment portfolio, Eric Lehrman will lead Wattpad's entertainment portfolio, Ashleigh Gardner will continue to guide all aspects of the publication e Dexter Ong will drive international business.

Wattpad WEBTOON Studios combines the expertise of WEBTOON Studios and the growing list of adaptations of some of the most popular digital comics in the world, with Wattpad Studios' data-driven and audience-oriented approach to research and production of TV shows, hit movies and books. Driven by public demand, the study taps into the potential of the two companies' global IP libraries, a growing roster of superstar creators and fandoms of all genres.

"We are ushering in a new era of diverse voices and incredible IPs for audiences and an industry that seeks both," Levitz said. “Companies are spending billions of dollars to acquire the last 100 years of IP. We look to the future, with hundreds of millions of new stories to fuel the next 100 years of success on screens and on the shelves. "

Wattpad WEBTOON Studios currently has more than 100 projects in development or production, hits on screens around the world, a thriving global publishing division and expertise in YA and comic book adaptations. His high-profile projects include Netflix's WEBTOON initiative Sweet Home; nobility, an anime co-production between WEBTOON and Crunchyroll; and the upcoming Netflix Original Movie In Traves de Mi Ventana by Nostromo Pictures, based on the worldwide hit of Wattpad. Netflix previously enjoyed huge success with Netflix and Komixx Entertainment's adaptation of The kissing booth, the story Beth Reekles first wrote on Wattpad.

WEBTOON Studios and Wattpad Studios' projects have received great acclaim and have broken records. The WEBTOON comic Tower of God is a global phenomenon with 4,5 billion reads. WEBTOON and Crunchyroll recently co-produced a hit anime adaptation, now available on Crunchyroll and HBO Max. Teenager Megahit After accumulated over 1,5 billion reads on Wattpad, before becoming a best-selling novel by Simon & Schuster and a film by Voltage Pictures and Wattpad Studios in 2019. The film won a People's Choice Award and three Teen Choice Awards in the 2019, continuing to generate five additional films in the franchise. Hulu's Light as a feather, produced by AwesomenessTV, Wattpad Studios and Grammnet, was nominated for 10 Daytime Emmy Awards in two seasons. In Southeast Asia, the Vidio Original series Switch on, produced by Wattpad Studios and Screenplay Films, set a record of 10 million views for Vidio in the first quarter of 2021. The series received the green light for a second season.

“YA and the comic book adaptations are some of the biggest hits in publishing and entertainment. And Wattpad WEBTOON Studios has one of the largest libraries of both on the planet, "said Wattpad co-founder and CEO Allen Lau." Wattpad WEBTOON Studios has an unparalleled IP library, powered by a new generation of creators and technology to create hits of all kinds. We are thrilled to combine WEBTOON and Wattpad's IP leadership to create the world's first truly modern studio. "

Publishing will remain a key component of Wattpad WEBTOON Studios' strategy, enabling a fully verticalized IP across TV, movies and books. Today, a dozen of Wattpad WEBTOON Studios entertainment projects have been or will also be published as books. The first volume in Rachel Smythe's Eisner Award-nominated WEBTOON graphic novel series, Olympus Lore, will be published by Penguin Random House in October 2021. Wattpad has worked with publishing partners including Hachette in France, Penguin Random House in the UK, Mondadori Group in Italy, Penguin Random House Grupo Editorial in Spain, AST in Russia and Anvil Publishing in the Philippines. Wattpad has published hundreds of books with partners around the world and 30 Wattpad Books brand titles since launch in 2019.

"Wattpad WEBTOON Studios is here to break down any remaining boundaries in entertainment," said WEBTOON founder and CEO Jun Koo Kim. “The Wattpad WEBTOON Studios team is developing IP in all formats, building franchises and cultivating the fandoms that feed them. And they are doing it with a complete global perspective from day one. By combining local market experience and audience data, Wattpad WEBTOON Studios can create local hits with regional partners or grow with a global audience in mind. "

"The Wattpad and WEBTOON stories are already in demand and known as some of the hottest IPs in the entertainment market," said Michelle Kwon, CEO of Studio N. "We are thrilled to celebrate the launch of Wattpad WEBTOON Studios and look forward to collaborate with the new team ".

Wattpad WEBTOON Studios aligns existing WEBTOON Studios and Wattpad Studios projects and partnerships under the same banner. WEBTOON Studios worked with The Jim Henson Company; Crunchyroll; Dizzying entertainment (IT franchise, The LEGO movie); and Bound Entertainment - the global studio led by Snowpiercer e Okja producer Samuel Ha. Some Wattpad Studios agreements and partnerships include work with Sony Pictures Television, Erik Feig's Picturestart, Bavaria Fiction in Germany, Leone Film Group in Italy, Turner's Particular Crowd in Latin America, Wise Entertainment in Brazil, CBC in Canada, Mediawan in France, MediaCorp of Singapore and others.

Select projects in development include Float, to be starred and produced by Robbie Amell; What happened that night, currently adapted by Oscar-nominated screenwriter David Arata; the hound, with a screenplay by Angela LaManna (Netflix's The Bly Manor Infestation); The bad boy's girl with Leone Film Group; is Perfect addiction with Constantin Film and JB Pictures.