# WEBTOON Projects $371 Million to $381 Million in Q4 Revenue

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/53679
Published: 2026-11-11T07:34:57.000Z
Updated: 2026-11-11T07:34:57.000Z
Section: Business

> Third-quarter advertising revenue rose 26.2%, but revenue in Japan fell to $147.3 million.

WEBTOON Entertainment Inc. expects $371 million to $381 million in fourth-quarter 2026 revenue after a mixed third quarter, when advertising grew but paid content and IP adaptations contracted.

The Nov. 9 forecast puts revenue growth at 9% to 12% from a year earlier on a constant-currency basis. That percentage measure is separate from the dollar revenue range, which uses current exchange rates. WEBTOON also expects fourth-quarter adjusted EBITDA of $0 to $5 million.

Third-quarter revenue fell 4% to $362.8 million. Advertising revenue rose 26.2% to $49.7 million, while paid content revenue declined 3.9% to $275.5 million. Revenue from IP adaptations dropped 27.5% to $37.6 million.

Japan accounted for another decline. Revenue there fell to $147.3 million from $179.6 million a year earlier. WEBTOON had 22.3 million monthly active users in Japan in the quarter ended Sept. 30, compared with 25.3 million in the quarter ended Sept. 30, 2025.

WEBTOON plans to improve content recommendations and make it easier for website visitors to move to its app. It is also pursuing brand partnerships to attract users in Japan.

LINE Digital Frontier Corporation, WEBTOON’s Japanese subsidiary, announced Oct. 22 a three-year plan to invest about $63 million in original content from Japan. The plan covers content development and investment involving publishers, studios and individual creators. The investment plan preceded WEBTOON’s November earnings forecast.

The fourth-quarter revenue forecast includes expected revenue from RI Games Holdings Inc. following an anticipated second closing of the transaction. That expected contribution is part of WEBTOON’s outlook for the quarter.

WEBTOON and Marvel also announced plans on Oct. 5 for a Marvel Comics app. They plan to launch it Nov. 16 with more than 35,000 comics from Marvel, Star Wars and 20th Century Studios.