It’s Comic-Con eve and many stories are being released to take advantage of all eyes turning to comics and comics-related things – such as investing in webcomics portals, a treasure trove of IP for the still robust streaming market.
Founded in 2015, Toomics is one of the top webcomics platforms in Korea, with over 60 million total subscribers – which is large but not on the Webtoon/Tapas level. According to the PR, it’s rapidly growing with a compound annual growth rate (CAGR) of 42% from 2018 to 2021.
“Toomics is a leading player that represents Korea’s growth in digital entertainment. The company is not only a platform that connects with tens of millions of viewers but also a powerhouse of digital content that leverages its own intellectual property and production capabilities,” Samuel Hwang, Founder and CEO of NPX Capital, said. “I’m certain that Terapin Studios’ acquisition of Toomics will expedite our journey to establish and further strengthen the comprehensive content platform Terapin is creating.”
In December NPX Capital acquired Korean digital content production studio, Copin Communications, which they then reorganized as the US-based Terapin Studios to acquire and develop more IP.
It all seems part of the general growth of webtoons (the generic name for webcomics in Korea) in Korea, which is seen as a valuable commodity for IP: Netflix is producing Black Knight, a mini-series starring Kim Woo Bin (“Alienoid”), which is based on Toomics’ original webtoon “Delivery Knight.”
And there is more, they say:
With its vision to become one of the leaders of global content, Terapin Studios utilizes its intellectual property to develop all forms of media across animation, films, games and merchandise. Supported by funding from international investors, the company aims to take content production to the next level, creating a metaverse in the form of immersive experiences with avatars, social games and the creation of NFTs.
Other NPX Capital investments include The Pinkfong Company, Riiid, Hodoo Labs, NPX Point Avenue, Ninjacart, spanning Korea, Southeast Asia, India, and the US.
$160 million is not chump change. I feel certain several US-based comics companies perked up their ears at that number – but which would be worth it?