Walt Disney (NYSE:DIS) said on Monday that it has partnered with Webtoon Entertainment (NASDAQ:WBTN) to develop a digital platform featuring its iconic comics.
Disney has also agreed to acquire a 2% equity interest in the digital comics platform, sending its shares soaring by over 80% during after-market trading.
The financial details of the deal have not been disclosed.
The newly created offering will feature over 35,000 Disney comics spanning its current and past titles from across its portfolio. This will include comics from Marvel, Star Wars, 20th Century Studios and others. Some of these will also be localized for Webtoon’s Korean and Japanese platforms.
“The new platform will include a mix of vertical and traditional formats for archived comics, current comic book runs and original stories,” the press release added.
The service will be built and operated by Webtoon and will be available to current Marvel Unlimited subscribers. Disney+ subscribers will also be able to access the comic titles in the new app for free, as part of the Disney+ Perks program.
The latest partnership builds up on Disney and Webtoon’s initial tie-up announced in August. Under the previous deal, Disney’s IP was made available on Webtoon’s mobile app, which offers a vertical-scroll format.