Table of Contents
Year-by-Year Growth of Webtoon Adaptations
In 2018, only one of the global Top 10 streaming shows was based on the Intellectual Property (IP) of a Korean webtoon. By 2023, that number had jumped to six, a phenomenal increase that cannot be ignored. This reflects how webtoon-based adaptations have become a mainstream trend. According to Market Growth Reports, over 40 K-dramas have been adapted from webtoons in the past three years alone, including major successes like All of Us Are Dead and Sweet Home, which have significantly fueled the growth in adaptation volume.
In addition, market data shows that by 2024, the global webtoon market reached $7.44 billion USD, and is expected to grow at a compound annual growth rate (CAGR) of 29.7%. This explosive expansion in platforms and content has directly contributed to the momentum behind webtoon-to-screen adaptations.
According to TIME, since 2020, approximately 30 titles from Naver Webtoon have been adapted into K-dramas, and the number is still growing. Screenwriter Song Jae-jung noted: “Because there are more platforms now, the demand for content has increased... production teams have started turning to the webtoon market, which already offers a wide range of original stories.” Moreover, TIME highlighted titles like Yumi’s Cells, which had hundreds of thousands of original readers—further proof that webtoons hold high adaptation value.
Netflix’s Asia Adaptation Strategy: Platform Collaboration + IP Data Control
Netflix has actively partnered with local webtoon platforms to secure adaptation rights in advance. For example, Business Proposal was a landmark collaboration between Kakao and Netflix, ranking among the Top 10 non-English shows on the platform and showcasing the effectiveness of this model.
Although Naver Webtoon and its subsidiary, Webtoon Entertainment, primarily operate as platforms, they have already established a vertically integrated system that connects original work, film, TV and music. Through this system and access to reader behavior data, they significantly reduce the risks of adaptation.
The IP business team at Naver WEBTOON explains: “Webtoons are adapted because they’ve already been validated in the market. Their built-in fanbases act as content indicators for OTT platforms.” In other words, these partner platforms offer a rich pool of content with abundant user data, allowing Netflix to select only the most promising IPs for production—a strategy that balances creative development with business certainty. LINE Webtoon and Kakao together boast 82 million monthly active users, with a significant portion from international markets. Netflix not only sees value in their fanbases, but also relies heavily on user reading data and content engagement metrics to assess return on investment. This has shifted adaptation decisions away from instinct and toward a data-driven approach, reducing risk and improving success rates.
How Small Studios Can Build Their Own Sweet Home
As webtoon adaptations become central to Netflix's Asia content strategy, small and midsize production companies and creators are increasingly realizing the potential of this “reverse development pipeline.” If these teams can identify and invest early in original stories on smaller, local webcomic platforms, or creative communities, they can acquire adaptation rights at relatively low cost while gaining a competitive edge in the content market.
Outside Korea, platforms such as CCC Webcomics (Taiwan) and Comico Thailand may not match Naver Webtoon’s scale but offer strong creative energy and high youth engagement, making them possible goldmines for the next wave of screen adaptations. By establishing collaboration mechanisms with these platforms and participating in early-stage incubation or co-development, production companies can achieve higher creative control and return flexibility with smaller investments.
Most importantly, this model does more than replicate Korea’s success—it represents a content-first philosophy, where a good story doesn’t require a star director or high-budget production, but rather imagination, visual potential, and fan resonance. With effective use of data analysis and community testing, even small production teams can build their own Sweet Home.
