Seven years after posting “Baby Shark Dance” on YouTube, Kim Min-seok, CEO and cofounder of the Korean company behind the viral video, looks to expand and replicate its success in digital comics called webtoons, as well as offline shows and theme parks.
Pinkfong’s Kim aims to reach new audiences through webtoons—bite-sized digital comic books that are designed to be read on a smartphone. The portmanteau of web and cartoon is like a TikTok version of digital comics, explains Jayden Kang, global business director for the story division at Kakao Entertainment, the entertainment unit of Korean billionaire“TikTok content is 30 seconds or ten seconds—very short—generally with no context.
“Webtoon is a gold mine of original stories,” says Kakao Entertainment’s Kang. “Many producers look for original stories from webtoons.” Kakao Entertainment itself has been investing heavily in webtoons in the past several years. In 2021 alone, Kakao Entertainment spent almost $1 billion to buy three major digital content companies: Tapas Media for $510 million, Radish for $440 million and Wuxiaworld for $37.5 million.he creator of “Baby Shark” also wants to go viral offline, especially in live shows and theme parks.
Theme parks—a lucrative business for Walt Disney, the world’s largest entertainment company—are also a top priority for Pinkfong. “Theme parks not only feature highly engaging attractions and experiences such as rides, games and merchandise, but also provide kids and their parents with opportunities to spend quality time together,” explains Kim. “Thus, theme parks, like live shows, play important roles in building a strong fan base and creating evergreen brands.
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