Lezhin Entertainment

Lezhin Entertainment is a digital content company that specializes in distributing a variety of webtoons and digital comics for diverse audiences, with a focus on engaging younger demographics through subscriptions and exclusive content. Founded in 2013 in Seoul, South Korea, Lezhin Entertainment operates primarily in the digital comics industry, offering serialized webtoons and graphic novels. The company has raised a total of KRW 23. 8 billion, with its latest funding round occurring in February 2022, where ByteDance Ltd.

was a key investor. Lezhin has successfully completed 5 deals since its inception. Lezhin Entertainment specializes in the distribution of digital comics and webtoons, offering a rich variety of genres. Their catalog includes serialized webtoons, graphic novels, and exclusive content aimed at teenagers and young adults.

Users can access these comics via a subscription model, enhancing their reading experience across various devices. Titles such as '남고 소년' and '가십(gossip)' are examples of content designed to attract the youth market in South Korea, Japan, the United States, and Europe. The company also sells merchandise related to its webtoons, like acrylic stands and specialty packaging, to strengthen user engagement and loyalty. In the most recent fiscal year of 2024, Lezhin Entertainment reported a revenue of KRW 76,182,201 and an EBITDA of KRW 15,145,461.

The company's revenue is primarily generated through a subscription model, allowing users to access a selection of webtoons and exclusive content, along with secondary revenue streams from merchandise sales linked to popular titles. Following its most recent deal in February 2022, where KRW 23. 8 billion was raised from ByteDance Ltd. , Lezhin Entertainment plans to use this funding to establish content production studios in China and Japan.

Furthermore, the company aims to expand its secondary copyright business by issuing digital IPs called webtoons as NFTs, broadening its market presence.