Lezhin Comics
Summary[edit]
Lezhin Comics is a startup webcomic platform that specializes in infinite canvas webtoons. Founded in 2013 by South Korean blogger, Hee-sung Han, the service adopts a pay-for-content model in its monetization ; where typical competitors offer free content and operate on advertising revenue, Lezhin Comics charges for its content, using this revenue model to fund its content talent pool.[1] Lezhin offers content in Japanese, English, and Korean.
Its US operation was launched Christmas Eve, 2015 and as of January, 2018 has over 10 million subscribers. Lezhin Comics are typically known for their mature themes, open-creative platform for creators, and a yearly cash contest for webtoon creators.
History[edit]
Lezhin Comics was founded by Hee-sung Han (Founder, CEO) and Jung-hyuk Kwon (CTO) in 2013. The service expanded to include Japanese comics and Korean translations of Japanese comics in April of 2015. In December 2015, Lezhin moved into the US market with 12 English language webtoons on its platform.[2] Lezhin’s app rose to become a top grossing reading app, on the iTunes app store, with sales rising from 980 million won in 2013 to 39.1 billion won in 2016 .[3]
Origins[edit]
Heesung Han is a blogger from South Korea.
Han’s site has in the past, angered censors who oppose sexual cultural liberty. At one period, Han's blogs were shuttered. Later, Heesung vowed to "create a legitimate website where he could remain independent, creating content without external influences." His solution, Lezhin Comics, hosts a variety of web comics (also known as webtoon) platforms in Korea, with more than 10 million active subscribers.
The company's swift rise is often attributed to Heesung Han's activities in the webcomic space, and also because Lezhin Comics charges for webtoon its episodes - one of the first web comic sites to do so. Up Webtoons were typically viewed for free and manhwaga were paid for based on how many people had viewed and continued to read the webtoons. Lezhin Comics, with over 3.5 billion views on the platform, created a market for paid-for webcomics in Korea. Premium webtoons have since become the norm, with numerous followers adopting the business model in part or entirety (Popular examples: Kakao Page, NHN Comico, Toptoon, Toomics etc.).
Lezhin states that he represents freedom for creatives in his region, where he believes content creators are censored by cultural norms. Lezhin Comics is open to mature genres such as BL (Boy Love) similar to Yaoi, and GL (Girl Love) similar to Yuri.
In April 2015, Lezhin Comics launched its services in Japan. First starting as a BETA site, it found its audience and the official website was opened in July of the same year.
In December 2015, Lezhin Comics expanded its services to include English speaking regions. Lezhin started relatively small with 12 English-language webtoons. Lezhin Comics currently offers over 6000 comics in Korean, 100+ comics in Japanese and 160+ comics in English.
Lezhin is currently the #1 platform for paid webtoon content (defined as comic content designed to be scrolled on a web page or in a mobile app) in Korea, with over 8.5 million registered users, representing 16.5% of the countries' population as of 2016. The company formed in 2012, and generated $850,000 in sales in 2013,growing quickly to reach $27 million in sales two years later.[4]
In 2016, South Korea’s private equity fund (PEF) operator IMM Private Equity (PE) invested 50 billion won ($43 million) in Lezhin, with sales that year alone expected to reach the $43 million mark.[5]
Reception In America[edit]
English language webtoon fans had the first opportunity to interact with Lezhin’s Korean webtoon creators at the 2017 Anime Expo. Though the company had amassed a subscriber base of x in America, Lezhin’s President of American operations expressed surprise at the interest American fans had displayed in Lezhin’s artists.
"Fans snaked around our booth for the autograph sessions so much so that security guards came a few times a day to control the line. We've received a lot of precious feedback from American users in terms of our content and service." Kim said. "We have already booked the booth -- twice as big -- for next year."[6]
Content[edit]
Lezhin Comics' focus is on acquiring exclusive comics.
"The most important factor in selecting a new comic for the English service is a storyline. There aren't such things that a certain genre takes off in the U.S. market no matter what. The bottom line is the story should be interesting," said James Kim, president of strategy and marketing at Lezhin, who also runs Lezhin's U.S. operations.
Kim attributes the ability to successfully attract creators with the “ridiculously crazy best” deal in the industry for creators. On Lezhin’s platform, creators retain ownership of their content and get shared revenues for secondary licensing.[7]
Contest[edit]
To discover new talent, Lezhin offers a yearly contest for creators worldwide (accepts submissions in English, Korean, Japanese, or Chinese) with a $100,000 cash prize for first place. Creators are asked to submit two webtoon style comics and a synopsis for the rest of the story. Past contest winners have gone on to create popular Lezhin series.[8]
References[edit]
- ↑ "(Yonhap Feature) Forget about manga, here comes webtoon". Yonhap News Agency. Retrieved 2017-10-19.
- ↑ Herald, The Korea (2016-01-04). "Webtoon service Lezhin enters U.S. market". Retrieved 2017-10-19.
- ↑ "(Yonhap Feature) Forget about manga, here comes webtoon". Yonhap News Agency. Retrieved 2017-10-19.
- ↑ "Top Company in $500 Million Webtoon Business Growing in U.S." Retrieved 2017-10-19.
- ↑ "IMM PE invests $43 mn in webcomic provider Lezhin Entertainment - Pulse by Maeil Business News Korea". pulsenews.co.kr (in 한국어). Retrieved 2017-10-19.
- ↑ "(Yonhap Feature) Forget about manga, here comes webtoon". Yonhap News Agency. Retrieved 2017-10-19.
- ↑ "(Yonhap Feature) Forget about manga, here comes webtoon". Yonhap News Agency. Retrieved 2017-10-19.
- ↑ "Lezhin Entertainment Announces Its 3rd Lezhin Comics World Comic Contest". www.businesswire.com. Retrieved 2017-10-19.
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