Securities and Exchange Commission on Feb.25 that it will seek to actively monetize ads to generate more revenue this year, citing the lack of ads properly targeting “Generation Z,” referring to those born between 1997 and 2012 who are considered the first truly digital native generation.“We believe our users are already accustomed to enjoying paid, premium content through ads on other global platforms such as YouTube, Netflix and TikTok,” reads the letter written by Webtoon Entertainment founder and Chief Executive Kim Junkoo.“Advertising remains a significant and largely untapped opportunity for us, reflecting our highly-valued demographic of deeply engaged Gen Z users.”On the same day, Webtoon Entertainment, boasting more than 160 million monthly active users in more than 150 countries, reported $166.1 million in ad revenue in 2024, up 14.2% from the prior year.
Webtoon Entertainment Inc., the Nasdaq-listed storytelling platform operator under South Korea’s internet giant Naver Corp., is set to expand its advertisement business to offset flagging revenue from its mainstay paid content business.
Last month, Webtoon Entertainment reported that its total revenue grew 5.6% on-year to $352.8 million in 2024, partially offset by the weaker Korean currency against the US dollar.
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