KakaoPage and Tapas (Image courtesy of KakaoPage)
SEOUL, May 31 (Korea Bizwire) – Kakao Entertainment announced on May 30 that its web novel and webtoon platform, KakaoPage, has been the highest-grossing book app in South Korea for the past two years, citing data from the market research platform Sensor Tower.
According to Sensor Tower, from May 11, 2022, to May 10, 2024, KakaoPage ranked first in revenue among book applications in South Korea and was the fastest-growing webtoon and web novel platform globally.
During the same period, KakaoPage recorded the second-highest revenue growth worldwide in the book category, following the audiobook app Audible. It was the fastest-growing app specifically for webtoons and web novels.
Kakao Entertainment revealed that 51% of KakaoPage’s cumulative in-app purchase revenue on the Android and iOS app stores since its launch in 2013 has been generated within the last two years.
The company’s Tapas platform, which operates in the North American market, also demonstrated significant growth. Over the past two years, Tapas ranked ninth in revenue and 12th in revenue growth among book apps in North America, leading as the top-grossing webtoon and web novel platform in the region.
“The success of KakaoPage and Tapas results from the synergy between premium IP (intellectual property) discovered in South Korea and our platform strategies,” Kakao Entertainment explained.
Sensor Tower highlighted notable IP success stories, such as the web novel and webtoon “The Office Blind Date,” which was adapted into a popular drama, and “Solo Leveling,” a hit web novel, webtoon, animation, and game franchise.
Tapas’ advertising strategy in the North American market also proved effective. Statistics show that between May 11, 2022, and May 10, 2024, Tapas ranked third in ad impressions within the publishing category on the TikTok channel in the United States.
These advertisements primarily featured popular Tapas webtoons in 16- to 30-second video clips. Sensor Tower suggested that “this advertising strategy aligns well with the TikTok audience’s preference for short, impactful content.”
Kevin Lee (kevinlee@koreabizwire.com)
