Webtoon Entertainment, the U.S.-based parent company of Naver Webtoon, reported Tuesday that its operating loss narrowed 36.9% year-over-year to $63.51 million (approximately 90.2 billion won, based on an average annual exchange rate of 1,420.94 won per dollar) in 2024.
Revenue rose 2.5% to $1.3827 billion (1.9647 trillion won) during the same period, driven by growth across all business segments—including paid content, advertising, and intellectual property licensing—and all regions on a constant currency basis. Net loss widened 144% to $373.39 million (530.6 billion won) from $152.91 million a year earlier, primarily due to goodwill impairment charges.
Fourth-quarter revenue fell 6.3% year-over-year to $330.69 million, while operating loss narrowed 52.2% to $13.24 million. The improvement reflected gains in monthly paying users, which rose 3.3% in Korea and 5.6% in the Rest of World segment following enhanced AI-powered content recommendations.
The company said it will continue expanding its Disney partnership and IP business this year. Following Disney's acquisition of a 2% stake in Webtoon Entertainment in January, the two companies plan to launch a new platform featuring more than 35,000 Marvel, Star Wars, and 20th Century Studios comics, along with original webtoons based on Disney franchise IP, within the year.
Webtoon Entertainment also confirmed plans to release and produce animated and live-action adaptations of webtoon originals including "DARK MOON: The Altar of the Moon," "Lore Olympus," and "Viral Hit."