Incomes of creators decline despite rise in annual K-webtoon sales
Korea's webtoon industry has witnessed continued growth in annual sales, while artists' annual incomes have declined, according to a government report.
The Ministry of Culture, Sports and Tourism, in collaboration with the Korea Creative Content Agency (KOCCA), released two reports: the "2023 Webtoon Business Survey" and the "2023 Webtoon Creators Survey" (translated titles) - each delving into the details of webtoon businesses and individual creators, Wednesday.
The reports show that the webtoon industry's sales surged by 16.8 percent in 2022, reaching 1.83 trillion won ($1.34 billion), a notable rise from the 1.57 trillion won ($1.16 billion) in the previous year.
Particularly noteworthy was the growth of platform companies, achieving sales of 1.13 trillion won ($834 million) in 2022, surpassing the 1 trillion won milestone and marking a 36.8 percent increase from 824.1 billion won ($613 million) in 2021.
Conversely, the average annual income of webtoon artists who published within the last year stood at 98.4 million won, down 20.3 million from the year before.
The decline was attributed to intensified competition and a decrease in the consumption of webtoons following the easing of COVID-19 restrictions.
Addressing the chronic issue of overwork among creators, the survey revealed a slight improvement in 2023. Webtoon artists worked an average of 9.5 hours per day last year - a decrease from 10.5 hours in 2022.
As Korean webtoon platforms and production companies actively expand overseas, translation support has emerged as the most requested form of assistance (53.9 percent), followed by the establishment of networks with overseas buyers or distributors (46.7 percent), overseas market research and information (41.8 percent) and training and support for overseas marketing professionals (38.2 percent).
With a growing interest in utilizing artificial intelligence (AI) in webtoon creation, 41.2 percent of businesses expressed an intent to explore AI, while 49.7 percent had not yet considered it and 9.1 percent had no intention. Creators showed a slightly lower interest, with 36.1 percent expressing an intention to use AI tools.
Looking forward, the culture ministry remains steadfast in its commitment to enhancing the global standing of the K-webtoon industry.
The ministry is set to unveil a comprehensive development plan later in January, focusing on organizational and budgetary strengthening, talent cultivation, international expansion and other institutional improvements.
Culture, Sports and Tourism Minister Yoo In-chon underlined the government's determination to provide support. "As Korean comics continue to captivate audiences worldwide, we aim to position K-webtoons as the next national strategic industry, following in the footsteps of K-pop and games," Yoo stated in an official press release.
"Based on the industry meeting held in November last year and drawing insights from this survey, we will identify necessary initiatives and enhance the support system to propel Korea to the forefront of the global webtoon industry."
source: The Korea Times
The Ministry of Culture, Sports and Tourism, in collaboration with the Korea Creative Content Agency (KOCCA), released two reports: the "2023 Webtoon Business Survey" and the "2023 Webtoon Creators Survey" (translated titles) - each delving into the details of webtoon businesses and individual creators, Wednesday.
The reports show that the webtoon industry's sales surged by 16.8 percent in 2022, reaching 1.83 trillion won ($1.34 billion), a notable rise from the 1.57 trillion won ($1.16 billion) in the previous year.
Particularly noteworthy was the growth of platform companies, achieving sales of 1.13 trillion won ($834 million) in 2022, surpassing the 1 trillion won milestone and marking a 36.8 percent increase from 824.1 billion won ($613 million) in 2021.
Conversely, the average annual income of webtoon artists who published within the last year stood at 98.4 million won, down 20.3 million from the year before.
The decline was attributed to intensified competition and a decrease in the consumption of webtoons following the easing of COVID-19 restrictions.
Addressing the chronic issue of overwork among creators, the survey revealed a slight improvement in 2023. Webtoon artists worked an average of 9.5 hours per day last year - a decrease from 10.5 hours in 2022.
As Korean webtoon platforms and production companies actively expand overseas, translation support has emerged as the most requested form of assistance (53.9 percent), followed by the establishment of networks with overseas buyers or distributors (46.7 percent), overseas market research and information (41.8 percent) and training and support for overseas marketing professionals (38.2 percent).
With a growing interest in utilizing artificial intelligence (AI) in webtoon creation, 41.2 percent of businesses expressed an intent to explore AI, while 49.7 percent had not yet considered it and 9.1 percent had no intention. Creators showed a slightly lower interest, with 36.1 percent expressing an intention to use AI tools.
Looking forward, the culture ministry remains steadfast in its commitment to enhancing the global standing of the K-webtoon industry.
The ministry is set to unveil a comprehensive development plan later in January, focusing on organizational and budgetary strengthening, talent cultivation, international expansion and other institutional improvements.
Culture, Sports and Tourism Minister Yoo In-chon underlined the government's determination to provide support. "As Korean comics continue to captivate audiences worldwide, we aim to position K-webtoons as the next national strategic industry, following in the footsteps of K-pop and games," Yoo stated in an official press release.
"Based on the industry meeting held in November last year and drawing insights from this survey, we will identify necessary initiatives and enhance the support system to propel Korea to the forefront of the global webtoon industry."
source: The Korea Times