Webtoon-to-Drama Pipeline and IP Deals — 2026-10-23
Netflix’s 10th anniversary event in South Korea unveiled major updates for webtoon-based hits like *All of Us Are Dead* Season 2 and *Solo Leveling*, while new data reveals that 80% of global subscribers have watched Korean content. Meanwhile, Kakao Entertainment is aggressively consolidating its IP strategy by shutting down the North American platform Tapas to integrate operations into Kakao Page, and Naver is expanding its anime pipeline through new partnerships in Japan.
Webtoon-to-Drama Pipeline and IP Deals — 2026-10-23
Top developments
Netflix Unveils Webtoon Adaptation Slate at Korea Anniversary Event
Netflix marked its 10th anniversary in South Korea with a fan event highlighting key webtoon adaptations, including updates on All of Us Are Dead Season 2 and the highly anticipated Solo Leveling series. The event featured previews for new originals, signaling Netflix's continued reliance on Naver and Kakao webtoon IP to drive global viewership. This aligns with the platform's strategy to leverage established digital comic fanbases to mitigate the risk of original script development.
Kakao Entertainment Shuts Down Tapas to Consolidate Webtoon IP
Kakao Entertainment has announced the shutdown of Tapas, its North American webtoon platform acquired in 2021 for approximately ₩1.1 trillion. This move accelerates the integration of Kakao’s webtoon operations into Kakao Page, aiming to streamline IP management and reduce operational costs. The consolidation suggests Kakao is prioritizing efficient IP extraction for drama and film adaptations over maintaining separate regional publishing platforms.
Naver Expands Anime Pipeline with Japanese Partnerships
Naver Webtoon’s Japanese subsidiary, Line Digital Frontier, announced a joint development plan with Japanese production company Hayate and anime OTT Crunchyroll to animate approximately 15 webtoons. This partnership, revealed at New York Comic Con, reflects a strategic pivot to diversify webtoon IP monetization beyond live-action dramas into the global anime market. It also highlights how Naver is leveraging its catalog to compete with traditional manga IP holders.
Local view
Korean Media Highlights "Webtoon Origin" Trend
Local outlets like Sports Khan and Wikitree are focusing on the ratings performance of recent webtoon adaptations, noting that titles like Dr. X: The White Mafia Era are achieving high viewership despite debates over fidelity to source material. Wikitree reported that the new tvN drama My Guilty Human debuted with a 5.6% rating, drawing attention to how script changes from the original webtoon are being received by domestic audiences.
Context & numbers
80% of Netflix Subscribers Watch Korean Content
Data released by Netflix indicates that roughly 80% of its global subscribers have viewed Korean shows or movies. This statistic underscores the massive global reach of Korean content, much of which is derived from webtoon IP, validating the high demand for these adaptations among international streaming platforms.
Kakao Story Revenue Growth Driven by IP Adaptations
Kakao Story reported a 9% year-over-year revenue increase in the third quarter, with management attributing significant growth to webtoon IP video adaptations. This financial performance highlights the tangible ROI of the webtoon-to-drama pipeline for Kakao, even as the company undergoes structural changes like the Tapas shutdown.
On the radar
Netflix Korea Anniversary Event
Netflix’s 10th-anniversary event in South Korea has just concluded, with new details on upcoming webtoon adaptations expected to surface in the coming weeks.
Tapas User Migration
Following the announcement of Tapas’ shutdown, users are being directed to migrate their libraries to Kakao Page. Monitoring user retention and sentiment during this transition will be a key indicator of Kakao’s ability to maintain its North American audience base.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
Powered by
