Streaming platforms Netflix and Crunchyroll received exclusive pitches from webtoon publishers RIDI and KW Books within the last week, opening “the door to potential video adaptations and market expansion in North America,” the Korea Creative Content Agency (KOCCA) said in a statement on August 4.
The meetings were held at the K-Story&Comics event in Los Angeles from July 30 to August 3. Korean publishers participated in business-to-consumer (B2C) and business-to-business (B2B) events, where around 74 North American companies and 10 Korean companies discussed partnership initiatives. Some of the U.S. entertainment companies present were the major film and TV production company Alcon Entertainment, publishers Inklore and TOKYOPOP, Tomorrow Studios (ONE PIECE live-action co-producers), and major film studio Lionsgate (John Wick).
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The Korean companies that attended were Donutpeach, DCCENT, RIDI, Vivravo, YLAB EARTH, KENAZ, KW Books, TakeOne Studio, Torycoms, and Toyou’s Dream, where they discussed collaboration opportunities like joint planning, investment, and production.
As RIDI and KW Books held conversations with Netflix and Crunchyroll, DCCENT, Vivravo, YLAB EARTH, Torycoms, and Toyou’s Dream presented their flagship titles to companies in the hopes of future collaborations. KOCCA adds that Vivravo secured a strategic partnership with the U.S.-based Toon Pocket to localize and distribute audio dramas based on Korean comic IPs.
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Crunchyroll & Netflix Receive Pitches for Adaptations Amid Drive for Diverse Content
Crunchyroll has previously spoken about diversifying its adaptations beyond just Japanese manga and light novels. Solo Leveling, originally a Korean web novel-turned-webtoon, is among its most successful anime adaptations ever. With India among Crunchyroll’s fastest-growing markets, Crunchyroll CEO Rahul Purini and other Sony Group companies have shared plans to create anime adaptations of Indian IP and stories. Purini also signalled openness to adapting IP from the creators based in the United Kingdom, now one of Crunchyroll’s top 10 markets, in a May 2025 interview with Broadcast Now.
Netflix’s interest in Korean webtoons comes amid the continued success of K-dramas on the platform generally, such as Squid Game, whose three seasons were ranked among the top Netflix titles of the first half of 2025. Weak Hero: Class 1 and Class 2, The Trauma Code: Heroes on Call, and True Beauty are examples of popular Netflix adaptations derived from Korean webtoons. Meanwhile, the U.S.-produced KPop Demon Hunters, now Netflix’s 4th most popular English-language film ever (by views, calculated by hours watched divided by runtime), signals demand for stories, including animated ones, that explore Korean culture.
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One of the biggest news stories around webtoon adaptations is Netflix’s acquisition of the Solo Leveling live-action series—a move that benefits both it and Crunchyroll, which co-produced the anime adaptation. While losing out on the massive views a Solo Leveling live-action might bring, Crunchyroll lacks presence in this area. However, after finishing the live-action, Netflix’s much larger audience will flock to see the anime in the numerous territories where Crunchyroll has exclusive rights, including the U.S. (Netflix does stream the Solo Leveling anime in select areas).
Fans would also play the Solo Leveling games; Crunchyroll is now among the copyright holders of the upcoming Solo Leveling: KARMA game by Netmarble (through Crunchyroll’s participation in the Solo Leveling anime production committee). Previously, Crunchyroll had no involvement in the very lucrative Solo Leveling: Arise by Netmarble, estimated to have grossed hundreds of millions of dollars since its launch last year.
Netflix’s meeting with webtoon companies also follows a meeting with Korean software giant Naver earlier this year. Naver operates the world’s biggest webtoon publisher, WEBTOON, whose CEO was also present at the meeting with Netflix executives. While there were rumors that the meeting was related to integrating WEBTOON into the Netflix app, Naver has since denied this.
Source: KOCCA (PR Newswire)
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