The Rise of Webtoon-Based Films and Dramas: A New Era in Entertainment

Webtoon-based films and dramas are on the rise, with over fifteen adaptations expected this year alone. The rapid growth of the webtoon market has led to an increase in competitive works, making them a reliable source for successful film adaptations. Experts suggest that adapting webtoons to suit the characteristics of visual content is crucial for the long-term growth of the industry.
Over 15 Webtoon-Based Films and Dramas in 2023According to a survey by TenAsia, at least six films based on webtoons or web novels are set to release this year. In March, the film adaptation of the webtoon 'Intrusion' hit theaters. July saw the release of 'Zombie Daughter' and 'Omniscient Reader's Viewpoint,' based on the webtoon 'My Daughter Turned into a Zombie' and the web novel 'Three Ways to Survive in a Ruined World,' respectively.

Next month, the film adaptation of the webtoon 'Face' will premiere, followed by 'Letter from Yeon' in October. The film 'Revival Man,' also based on a webtoon, is expected to release by the end of the year. Additionally, more than ten dramas based on webtoons are anticipated to air on platforms like Netflix and terrestrial channels, marking a significant increase from last year.

Last year, only two webtoon-based films were released, with just over ten including dramas. Industry insiders acknowledge that webtoons have become an indispensable source of intellectual property (IP) for the Korean film and drama industry.
Webtoons: A Safe Bet for Box Office SuccessFilm producers are drawn to webtoon IPs due to the explosive growth of the K-webtoon market, which surpassed 2 trillion won in 2023. The intense competition to capture readers' attention means that popular webtoons with strong fanbases are seen as safe bets for box office success.

The increase in webtoon-based films and dramas is also a strategic move by OTT platforms to secure exclusive IPs in a competitive market. Global platforms like Netflix and Disney+ are actively seeking unique content in the Korean market, and webtoons with strong fanbases and compelling stories are attractive options.

Webtoon fans often become the initial audience for film releases, spreading word-of-mouth and aiding in marketing efforts. The combination of proven popularity, OTT competition, and fanbase effects makes webtoon IPs an appealing choice in the film and drama industry.
"Enhancing Film Creativity with Webtoons"Not all webtoon-based films receive positive reviews. The adaptation process often fails to meet the high expectations of original fans, and casting controversies are common. The challenge of condensing extensive webtoon stories into short film runtimes can lead to altered narratives, drawing criticism from fans.

The film 'Omniscient Reader's Viewpoint,' despite its star-studded cast and 30 billion won budget, only attracted about 1.06 million viewers by the end of the month, far short of its 6 million break-even point. Concerns are growing that the focus on proven webtoon IPs is overshadowing innovative and experimental scripts.

A film critic noted that while webtoons have revitalized the Korean film market, relying solely on them as "safe bets" could undermine the industry's competitiveness in the long run. He emphasized the need for a smart approach that respects the essence of the original work, adds value to films, and preserves creative diversity.

Reported by Kim Se-ah, TenAsia haesmik@tenasia.co.kr