Kakao sees comic print sales surge in the United States

(Kakao Entertainment Corp.)

As it implements a strategic shift in its overseas market expansion, Kakao Entertainment Corp. is seeing a surge in print sales of its online-based comics in the United States, driven by its “one-source, multiple-use” strategy for intellectual property (IP) and local demand for physical copies.

According to industry sources on Sunday, Tapas Entertainment Inc, Kakao Entertainment‘s North American subsidiary, has sold nearly 60,000 copies of the print version of its online comic “Itaewon Class” since its release in April 2024. The title, which was initially published online, has averaged sales of around 10,000 copies per month - five times higher than typical US comics, which average around 2,000 copies per month. Sales of “Itaewon Class” rival those of iconic comics such as the “Batman” series or the popular Japanese comic “My Hero Academia.”

“Business Proposal,” which debuted in May 2023, has released six volumes since then and sold over 60,000 copies. Other U.S. releases include “The Uncanny Counter” (10,000 copies sold in two volumes), “SSS-Class Revival Hunter” and “The Perks of Being an S-Class Heroine,” bringing Kakao’s total U.S. sales of five online comics titles to more than 130,000 copies.

A key factor in the success of these titles is their multi-platform release strategy. “Itaewon Class” began as an online comic, was adapted into a hit TV series in Korea, and now has a strong following in the United States, with the comics available on Tapas and the drama streaming on Netflix. Similarly, “Business Proposal” began as an online novel, expanded into online comics, and was later adapted into a TV series, with all formats available in the U.S. on Tapas and Netflix.

This expansion into print is well-suited to the U.S. market, where physical comics dominate. According to the Korea Creative Content Agency, the U.S. comics market totaled $2.7 billion in 2022, with more than 80 percent still focused on print. Digital comics and webtoons account for just $504 million of the total market.

The rising popularity of K-culture in the United States has boosted the demand for Korean content even further. While Korean works make up only 2 percent of titles on Tapas, they account for 85 percent of the platform’s revenue. To leverage this demand, Kakao is expanding its strategy to include not just online comics and novels, but also print editions of high-profile Korean IP. As part of this strategy, Tapas plans to release at least 20 more titles over the next three years, starting with “My Secretly Hot Husband,” an online comic based on an online novel that is set to be released in December 2024.

Kakao is consolidating its global operations, focusing on key markets such as the United States and Japan. Kakao Piccoma Corp. shut down its European subsidiary in France in 2024 and ended its webtoon services in Europe in September. Kakao Entertainment also announced plans to withdraw from the Indonesian and Taiwanese markets.