Disney Takes Webtoon on a Magic Carpet Ride… Shares Pop 27% After Comic Vault Deal

Mickey takes Webtoon on a magic carpet joyride…

After remaking literally every movie from the 90s (Aladdin, Lion King, Mulan, Little Mermaid… next up, Flubber: Live Action?), and clinging to Marvel like Rose on the Titanic door (and yes, Marvel is Jack sinking), Disney is finally trying something that doesn’t involve CGI lions or another multiverse movie. Mickey and friends are wiping off the comic vault and handing the keys to Webtoon Entertainment… aka the app Gen Z reads instead of The Economist. If you’ve never heard of it, it’s kinda like TikTok with speech bubbles, except instead of Addison Rae doing dances, you’re just scrolling endless Spider-Man reboots.

Anyways, Disney and Webtoon announced a deal that, on the surface, looks like a licensing arrangement. Webtoon will build and operate a new digital platform that consolidates over 35,000 titles across Disney’s portfolio… everything from Marvel to Star Wars to 20th Century Studios. That means fans won’t have to jump between half a dozen platforms or hunt for decades-old issues. Instead, it’s one subscription, one app, and a central hub for Disney’s enormous comic archive.

As part of the deal, Disney also grabbed a 2% equity stake in Webtoon. Doesn’t sound like much, but that tiny slice says a lot. Instead of just licensing out their comics and calling it a day, Disney wants real skin in the game… a seat at the table if Webtoon becomes the platform for digital comics. In response to the news, Webtoon’s stock, which had been trading about as flat as Florida all year, is up 28% (at the time of this writing).

(Source: Wall Street Journal)

Now let’s talk about what’s in it for each side. For Webtoon, this is the ultimate dream. One day they’re a niche app with a cult following of basement dwellers, the next they’ve got Mickey Mouse, Spider-Man, and Darth Vader on the front page. That’s instant credibility, a built-in global fan base, and a marketing push they could never buy. Founder Junkoo Kim called it “a powerful next step for our growing global business,” what he really means is: “we just got the world’s biggest entertainment brand to stamp our passport into every market on Earth.”

As for Disney, this comes down to one word: leverage. Instead of sinking hundreds of millions into building a digital comics app, they get Webtoon’s tech, audience, and global footprint on day one. The 2% equity stake is pretty much Disney buying a call option on Webtoon’s future. It’s low cost and has asymmetric upside. If Webtoon becomes the Spotify of comics, Disney’s sitting on both content control and a financial win. And don’t overlook the Disney+ angle… this is tailor-made for bundling. Pay a couple extra bucks and suddenly your subscription comes with The Mandalorian and 35,000 back issues of X-Men. That’s how you fight churn.

Let’s call a spade a spade. This is Disney finally admitting their bag of tricks is empty. Marvel feels like it’s running on fumes, the live-action remakes are just high-budget cosplay, and ESPN is bleeding subs like a crypto bro after leverage goes wrong. They need something new that doesn’t cost another $10B.

So now it’s comics. On paper, digital comics sound tiny compared to theme parks or streaming, but when you’ve got 35,000 titles lying around and a partner already massive in Asia, it’s a cheap swing with big upside. If it hits and Webtoon becomes big... Disney gets to act like it’s still got game. If it whiffs? Get ready for Toy Story 6: Woody Discovers NFTs.

At the time of publishing this article, Stocks.News holds positions in Disney and Spotify as mentioned in the article.