WEBTOON Entertainment (WBTN) Hits New Record High on Disney Partnership

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Webtoon soared to a new record high on Wednesday, as investors cheered its newly inked partnership with Disney to bring the latter’s iconic comics to its mobile app.

In intraday trading, WEBTOON Entertainment Inc. (NASDAQ:WBTN) skyrocketed by as much as 97 percent to touch its highest price of $18.44, before paring gains to end the day just up by 81.2 percent at $16.96 apiece.

This followed announcements that Disney will bring to the Webtoon app its 100 iconic comics from the Disney, Marvel, 20th Century Studios, and Star Wars brands.

In addition to the existing ones, the brands will also publish new series on WEBTOON Entertainment Inc.’s (NASDAQ:WBTN) global platform.

At launch, Webtoon users will be able to access Amazing Spiderman (series 2022-present); Avengers (2012); Star Wars (2015); Alien (2021); and Disney As Old As Time: A Twisted Tale.

“We’re thrilled to kick off this collaboration with iconic series from their comic book catalog—and this is just the start! Together, we’re bringing this legendary storytelling to a new generation of mobile-native comic fans, while giving existing fans a new way to experience series and characters they love,” said Chief Strategy Officer Yongsoo Kim.

WEBTOON Entertainment (WBTN) Hits New Record High on Disney Partnership

Given Disney’s huge fan base, the partnership is expected to bolster WEBTOON Entertainment Inc.’s (NASDAQ:WBTN) revenues moving forward.

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