Apple Looks to Korean Web Comics to Energize Books App

Apple has recently partnered with some of Korea’s biggest webtoon companies to bring its Books app to a wider audience. The move comes as Apple seeks to expand its presence in the fast-growing digital comic market.

According to sources familiar with the matter, Apple has entered into agreements with several Korean webtoon publishers, including Kakao Page Corp. and Naver Corp. These publishers will supply their content to Apple’s Books app, which will offer readers a variety of popular web comics.

This move is seen as a strategic move by Apple to expand its offerings in the digital content space. While Apple’s Books app has been successful in offering traditional books, it has struggled to compete with rivals like Amazon’s Kindle in the digital comic space.

Korean web comics, or webtoons, have gained tremendous popularity in recent years, not just in Korea but globally. Webtoons are digital comics that are optimized for reading on smartphones and other mobile devices. They are often free to read, but readers can also pay for premium content.

The Korean webtoon industry has been growing rapidly, and Kakao Page Corp. and Naver Corp. are among the largest webtoon publishers in Korea. Both companies have been expanding globally, with Kakao Page Corp. recently setting up a U.S. subsidiary and Naver Corp. acquiring French webtoon platform Wattpad.

The partnership with Apple will give these Korean webtoon publishers access to a wider audience, while Apple will benefit from the popularity of Korean webtoons among global readers. It is not clear how much Apple will pay for the content or how revenue will be shared between Apple and the publishers.

Apple has been investing heavily in its digital content offerings in recent years, as it seeks to offset slowing sales of its flagship iPhone. In addition to the Books app, Apple also offers the Apple Music streaming service, the Apple TV+ streaming service, and the Apple Podcasts app.

The partnership with Korean webtoon publishers is the latest move by Apple to expand its digital content offerings. Last year, Apple launched Apple News+ in the U.K. and Australia, offering users access to hundreds of magazines and newspapers for a monthly fee.

The move also comes as the digital comic market is booming globally. According to a report by Grand View Research, the global digital comics market is expected to reach $8.8 billion by 2025, driven by the growing popularity of webtoons and other digital comics.

In conclusion, Apple’s partnership with Korean webtoon publishers is a strategic move to expand its offerings in the digital content space, particularly in the fast-growing digital comic market. The move is expected to benefit both Apple and the Korean webtoon publishers, as it will give them access to a wider audience.