Reading as entertainment has changed as technology advances, from simple text storytelling to visualized worlds shown through graphics and colors. The ways we consume this entertainment have also changed as we moved from the simple physical form of books and magazines to the digital world on laptops and phones. The webtoon market's success lies in utilizing the strengths and weaknesses of technological advancement to construct a story for readers to enjoy—the advancement of entertainment consumption. Back then, it used to be paper books and magazines.
Nowadays, it's more common to consume this type of entertainment on laptops and phones. The ease of use to consume content using the advantage of the phone scroll function makes webtoons so successful. Gone are the days of swiping right to progress a story; instead, read by swiping down to view a continuous page. It's a different way to experience art where the author isn't limited to a single page to express their work. Not to mention the accessibility e-publishing provides for the user to access the content anywhere and anytime.
The comic book, manga, and webtoon markets are prominent players in reading entertainment, specifically graphic novels. The main difference is the origin of comic books from the West and manga and webtoon from the East. The most dominant is the manga market, valued at around $10 billion in 2021 with a CAGR of 17.4% due to the influence and popularity of anime as a rising media entertainment. Although the webtoon market is relatively new in the reading entertainment space, its potential to grow past the comic book industry is drawing closer as time passes. It is already valued at around $4.7 billion in 2021 at 40.8% CAGR, while the comic book market is only valued at about $7.4 billion at 10.5% CAGR. The stark contrast between the comic book industry compared to the manga and webtoon is the targeted audience they are reaching for.
When talking about comic books, most would think about superheroes from the DC and Marvel universes. These are established IPs that have existed for a very long time, meaning it already has their existing fan base, and it's hard for newer fans from newer generations to get into the IP since no new IP is being created. On the other hand, manga and webtoons are not dominated by the superhero genre's monopoly, and many series have a start and an end, unlike the comic book market with its ever-on-going universe. Manga and webtoons can generate unique IPs of different genres without the risk of losing existing fans while bringing new ones. This is one of the many reasons why the manga market has overtaken comic books in such a short time and why the webtoon market will soon follow in the manga market's steps.
Furthermore, the incentives for authors making webtoons are more significant than regular graphic novel authors would have. Usually, to publish an IP, the author must go out of their way to get the approval of editors and publishers to put their work on the market, but that doesn't mean their work will help generate any revenue for them. However, webtoon authors essentially have a guaranteed payout when making a series. Currently, the biggest platform for webtoon viewing and publishing is WEBTOON. When signing a contract for making a series, no matter how well or poorly it performs, the author is guaranteed at least the payment for what the contract says—making the market extremely easy to access for authors to survive and create their work.
Kurukuru is an AI software company that has created a generative AI capable of producing consistent designs. This technology is a massive step up from the current state of AI art. Currently, AI can generate beautiful artwork indiscernible from humans but lacks consistency in content and style, making it inefficient in creating graphic novels requiring consistent style and design. However, Kurukuru can create consistent and controllable characters with their AI, which tackles one of the most complex aspects that artists must tackle when creating new series, character design. One of the major problems artists in this industry face is the heavy workload and strain they experience when producing an episode every week. Both mental and physically strained leads to many authors taking extended breaks to recover from nonstop work. However, with Kurukuru, they can significantly reduce the workload authors experience. Artists can use Kurukuru to help minimize the workload when drawing characters, allowing artists to focus on other aspects of the series and lessening the strain of the need for weekly releases.
Kurukuru is entering both the webtoon and generative AI markets with significant advantages. With the webtoon market, Kurukuru can leverage its AI-driven technology to revolutionize the creation process for artists. The platform's AI assistance can streamline art creation, improve storytelling, and enhance the overall production quality of webtoons. This efficiency enables artists to create more content in less time, resulting in a greater supply of diverse and engaging webtoons for audiences to enjoy. Moreover, Kurukuru's presence in the webtoon market allows the company to forge partnerships with established creators, studios, and platforms, further solidifying its position in the industry. As the demand for webtoons continues to grow, Kurukuru's AI-powered platform can become an indispensable tool for aspiring and seasoned artists, driving further adoption and recognition in the market.
Furthermore, Kurukuru's expertise in generative AI places it in a unique position to capitalize on the rising interest in AI-generated content. By combining AI capabilities with webtoon creation, Kurukuru can offer a comprehensive suite of tools that empower artists to produce innovative and captivating webtoons. This synergy enables creators to explore new storytelling formats, styles, and concepts that may not have been feasible without the support of AI. In addition to benefiting webtoon creators, Kurukuru's involvement in the generative AI market opens doors to other potential applications, such as personalized content generation, interactive storytelling experiences, and collaborations with other creative industries like gaming and animation.
By embracing these new and developing markets with great potential, Kurukuru positions itself as a pioneer in the intersection of AI and digital art. As the company continues to innovate and refine its AI technology, it is poised to shape the future of webtoon creation and content generation while contributing to the larger cultural landscape of digital entertainment and creativity.
Currently, AI generative content is primarily perceived as a tool for convenience, assisting artists and creators in various fields. However, TSVC envisions a future where generative AI content transcends its role as a mere tool and evolves into a full-fledged media form. Generative media is still in its developmental stages, with people actively testing the capabilities and gauging the popularity of AI-generated content.
As generative AI gains more attention and acceptance, it is the perfect time for companies to start entering the AI media space as the industry becomes increasingly mainstream. The potential for generative AI content to revolutionize cultural expression and exploration is immense. It has the power to reshape how we create, consume, and interact with various media and art forms, leading to the emergence of entirely new artistic genres and experiences.
Kurukuru, as a company operating in this space, is well-positioned to play a pivotal role in this transformation. Their unique software application caters to artists, offering them a tool that streamlines the creation of web comics and art. By empowering artists with AI assistance, Kurukuru fosters a new webtoon culture, encouraging creativity and experimentation within the medium.
Moreover, Kurukuru stands out as one of the pioneers in utilizing AI tools as a media source. As AI-generated content gains traction and popularity, Kurukuru's contributions to this emerging media form will likely influence its trajectory. The groundbreaking innovation represented by Kurukuru's AI technology positions the company at the forefront of potential market disruption. As generative AI becomes more sophisticated and its capabilities expand, Kurukuru's AI-driven platform is poised to seize new opportunities and challenge traditional content creation methods.
The transformative potential of generative AI content is not limited to art and entertainment. It extends to other industries and fields, including personalized content generation, interactive storytelling, virtual experiences, and more. As the possibilities unfold, generative AI content can profoundly impact how we communicate, learn, and experience the world around us.
In conclusion, Kurukuru's timely entry into the AI generative market, pioneering innovation, comprehensive toolset, and potential for cultural impact place the company at the forefront of this attractive and promising industry. As the demand for AI-generated content continues to rise, Kurukuru's unique offerings position them for significant growth and success, setting the stage for an exciting journey ahead as a key player in the evolving world of generative AI and webcomics.