Disney agreed to acquire a 2% stake in WEBTOON Entertainment and partner on a new digital comics platform, sending shares of the South Korean-backed company soaring as much as 90% in extended trading.
The companies signed non-binding agreements to create a service housing more than 35,000 titles from Disney’s Marvel, Star Wars, Pixar and 20th Century Studios properties, according to statements Monday. WEBTOON Entertainment, controlled by Naver Corp., will build and operate the platform as an expansion of Disney’s existing Marvel Unlimited service, which costs $9.99 monthly.
The announcement sent WEBTOON shares jumping to new 52-week highs, with the stock notching its second-largest advance since going public last year. JPMorgan raised its price target to $22 from $14 while maintaining a neutral rating, though Morgan Stanley analyst Matthew Cost expressed skepticism about immediate earnings impact, noting investment requirements for the new platform.
The partnership builds on an August agreement to adapt 100 Disney franchises for WEBTOON’s mobile-first format. Disney+ subscribers will receive curated access to comics at no additional cost through the company’s perks program.
WEBTOON Entertainment reported $1.35 billion revenue in 2024 but posted losses of $143.78 million. Both the equity investment and commercial collaboration remain subject to definitive agreements and customary closing conditions, with no launch timeline disclosed.
