Change is coming for Tapas, the digital platform for webcomics and digital prose, and radish, the digital prose serial platform. Kakao Leisure, Korea’s main supplier of widespread cell content material platforms, merged its North America subsidiaries Tapas Media and Radish Media, making a single digital publishing platform with greater than 100,000 creators telling greater than 100,000 tales. Tapas is the distinctive platform that publishes each digital comics and serialized novels. The merger of those main digital publishers creates a unified neighborhood of storytellers in North America.
The merger settlement was unanimously permitted by Tapas Media and Radish Media’s Board of Administrators, with Radish Media because the surviving firm. The merger will enhance Kakao Leisure’s world development, offering an umbrella for 3 present digital storytelling platforms: Tapas, Radish, and Asian fantasy fiction platform Wuxiaworld™. Tapas Founder and CEO, Chang Kim, will function CEO of the brand new, not-yet-named firm and proceed as World Technique Officer at Kakao Leisure. Kim supplies perception into the US market whereas persevering with to give attention to growing authentic IP. The three platforms will complement one another beneath unified management and imaginative and prescient however proceed to function independently after the merger.
“I’m very excited by the problem offered by the tremendous aggressive world leisure market, and I do know this merger positions us properly with the momentum we have to solidify all our capabilities and preserve our aggressive edge as a content material IP powerhouse,” Kim says. “We sit up for persevering with our modern journey in storytelling and reaching new audiences with compelling tales throughout a number of classes.”
“The settlement will present a serious leap ahead for Kakao Leisure within the burgeoning Ok-content trade and provide thrilling new alternatives within the North American storytelling market,” says Jinsoo Lee, CEO of Kakao Leisure. “Tapas, Radish, and Wuxiaworld™ every carry an enormous lineup of content material IPs to the desk, and after we put them beneath one banner with Kakao Leisure’s confirmed means to generate and monetize authentic tales, it’s going to pave the way in which for unparalleled development and generate extra success tales.”
Lee added, “Kakao Leisure is a key participant within the development of storytelling globally. With our content material IP experience and the excellent content material creation capabilities of the brand new firm, we are going to speed up our efforts to turn out to be a dominant regional and world participant available in the market within the subsequent three years.”
Kakao Leisure makes a speciality of maximizing the lifecycle of digital tales. It first created the novel-to-comics mannequin, which took internet novels and efficiently tailored them into webtoons to achieve bigger audiences. Previous hits embrace Solo Leveling, A Enterprise Proposal, and What’s Mistaken with Secretary Kim? With this merger, the brand new firm is not going to solely proceed their novel-to-comics mannequin but additionally increase into Hollywood movies, tv reveals, gaming, the metaverse, and NFTs. Radish plans to introduce audiobooks of its profitable authentic tales, concentrating on North America’s fast-growing audio content material market.
Headquartered in Los Angeles, Tapas is a pioneer of cell storytelling platforms within the US and has grown the cell tales market with greater than 9.5 billion pageviews of 103,000 authentic sequence, each in its webcomics and internet novels. Tapas’ microtransaction-based digital foreign money (Ink) empowers readers to assist their favourite creators and tales straight, producing income for creators. Tapas noticed ten occasions year-over-year income development in 2021, averaging greater than $2 million per thirty days for creators, making it one of many prime three grossing comedian apps within the US.