Watcha to start webtoon streaming from Oct. 13
Watcha will start offering webtoons on its online streaming app from Oct. 13, the company said Thursday.
Watcha Webtoon will be available to existing users for free. The number of webtoonists that have joined has not been confirmed and will be disclosed next week in tandem with the opening day, a Watcha spokesperson said.
Watcha, the No. 7 streamer in Korea, said last July that it will be postponing its plans to expand into music and webtoons this year. The blueprint, titled Watcha 2.0, was pushed as the company went through restructuring after failing to raise much-needed funding this year amid growing competition and economic uncertainties.
The webtoon service does not mean that Watcha 2.0 is rebooting, according to the company.
“We launched the webtoon service because we had already secured some content in the past,” a company spokesperson said. “We are planning to expand into other content genres, but nothing has been decided yet.”
Founded in 2011 under the name Frograms, it started as a streaming service in January 2016. It had 1.2 million subscribers as of June, according to WiseApp.
It is the only streaming company not supported by a larger company. Tving is run by CJ ENM, Coupang Play by Coupang, Wavve by SK Telecom and U+ Mobile TV by LG U+.
BY YOON SO-YEON [firstname.lastname@example.org]