이 기사는 2021년 05월 11일 08시01분 thebell에 표출된 기사입니다

Kakao’s content business is growing fast as the South Korean internet giant has strengthened its position in the Japanese online cartoon market.

Revenue from paid-content provided by South Korean unit Kakao Page and Piccoma, a digital cartoon platform operated by Kakao Japan, has increased 80% year on year to 174.7 billion won ($156.7 million) in the January to March quarter, Kakao said in a preliminary earnings report.

Notably, revenue generated by Piccoma accounted for 53% of the total paid-content revenue, up from 29% in the same period last year and first surpassing the contribution of Kakao Page.


The units' main sources of revenue are online cartoons and novels, whose contribution to Kakao’s total paid-content revenue increased to 30% in the first quarter from 23% a year earlier. In contrast, Kakao made a smaller share of revenue from music content.

Piccoma has retained its top share by revenue in the Japanese digital cartoon market since July last year. Japan has the world’s largest comics market, worth $4.57 billion as of 2019, after the US ($1.16 billion) and China ($977 million), according to data from Korea Creative Content Agency.

Piccoma’s revenue has been growing at a rapid pace since it was launched in April 2016. The online cartoon platform recorded its first quarter operating profit in the fourth quarter of 2019. Revenue more than tripled year on year to 239.8 billion won in 2020, with the platform achieving its first net income of 14.3 billion on a full year basis.

Piccoma has so far largely relied on Kakao Page for content. “Most of the cartoons (posted on Piccoma) are based on Kakao Page’s content, but we are planning to expand original content in the future.”

The global merchandise value of Kakao’s paid-content business worldwide grew 77% to 245.9 billion won in the first quarter, with Piccoma alone accounting for 152.1 billion won.

Meanwhile, Kakao Page is stepping up efforts to expand overseas. The South Korean unit’s North America sales are trending upward after its acquisition of US webtoon platform Tapas Media. Kakao Page also plans to launch its webtoon platforms in Taiwan and Thailand next month. (Reporting by Choong-hee Won)