Webtoon shares jump more than 35% on digital comics Disney deal
Webtoon Entertainment Inc., on Thursday, June 27, 2024, during the first public offering activity outside the Nasdaq Marketsite in New York.
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Webtoon Fun Shares increased on Tuesday after signing an agreement to create a digital comic book platform. DisneyAnd to accept the media holding of the Media Holding 2% Selfer.
Webtoon briefly increased by more than 38%, reached a new height of 52 weeks, and on the road for a second largest daily advance since it was opened to the public last year.
Webtoon entertainment, 1 day
Disney and Webtoon adopted on Monday Create a digital platform for the studio’s Marvel and Star Wars brands. Companies, Pixar and 20th Century Studios, including Disney Properties, more than 35,000 comic books for the first time will serve a single subscription, he said.
‘The preferred goal’
Deutsche Bank Analyst Benjamin Black described the agreement on Monday as “material expansion” from a first partnership in August. Disney can help diversify Webtoon’s income by creating a stable recurrent revenue stream.
He said that the agreement can also help to increase the interest of other intellectual property (IP) owners who want to follow Disney’s leadership.
“The new agreement confirms Webtoon’s platform as a preferred target for the distribution of big IP.”
The cost of Morgan Stanley Analyst Matthew had doubt the emergency impact of the agreement on Webtoon’s near -term earnings. In fact, he pointed out the need to invest to create a new platform.
One of Webtoon’s goals is to expand the English -speaking user base, the biggest income opportunity for the company.
Webtoon shares, including Tuesday’s rally, have increased more than twice the last three months.
