Lezhin Comics surpassed 10 billion won (about US$8.7 million) in sales this year for the first time in the US market. Lezhin Entertainment said in its earnings announcement that it recorded 46.9 billion won (about US$41.1 million) in sales last year, of which 10 billion won (about US$8.7 million) were from the US market due to exports of Korean webtoon.
Lezhin Comics surpassed 10 billion won in US sales alone for the first time in a year after it topped 10 billion won in overseas payments with exports of Korean webtoons in 2017. Its sole sales in the US market reached 10.5 billion won (about US$9.2 million) last year, recording 65 percent year-on-year growth, driving its overseas performance. It also recorded a 29 percent on-year growth in the Japanese market, recording 3.7 billion won (about US$3.2 million) in sales. Last year, Lezhin Comics’ total overseas sales stood at 14.9 billion won (about US$13 million). The figure grew 52 percent on-year.
However, it recorded an operating loss of 9.7 billion won (about US$8.5 million) in marketing and investment in strengthening contents at home and abroad as it expanded its growth in overseas markets. An official from the company said, “It was a planned investment to create future opportunities. The investment to strengthen the business capacity at home and abroad will continue this year.”
“We will try to create business opportunities to create diverse value-added opportunities in overseas markets based on this while solidifying our global platform status,” said Kang Kyung-hoon, COO of Lezhin Entertainment.