What Studio N does

Studio N is a Seoul-based entertainment production company and fully-owned subsidiary of Naver Webtoon, established in August 2018. The company operates as an IP adaptation studio, converting webcomics and web novels from Naver Webtoon's platform into film, TV drama series, and animation content. The company leverages Naver Webtoon's ecosystem of approximately 160 million monthly active users to identify proven IP with pre-existing fandoms, reducing marketing risk for new adaptations. The production portfolio spans thriller (Sweet Home, Strangers from Hell), romance (Yumi's Cells, The Remarried Empress), action (Bloodhounds), and zombie comedy (My Daughter is a Zombie), with animation titles including Yumi's Cells The Movie, True Beauty, Your Letter, and 1 Second.

The business operates on a B2B model, producing content for global streaming platforms (Netflix, Disney+), Korean broadcast networks (tvN, MBC, SBS, JTBC, KBS, ENA), Korean streaming services (TVING, Wavve), and international animation platforms (Crunchyroll, U-NEXT, EBS). Revenue is generated through production deals and licensing arrangements rather than direct-to-consumer pricing; financial terms are not publicly disclosed. The company has demonstrated commercial validation through My Daughter is a Zombie becoming the third highest-grossing Korean film of 2025 and critical recognition through Emmy nominations for Chicken Nugget on Netflix.

The company's strategic positioning centers on geographic and channel expansion. Recent partnerships include a co-development deal with Barunson E&A (producer of Parasite) for Southeast Asian markets (Indonesia, Thailand, Vietnam) signed February 2025, a joint adaptation with Japanese studio Toei for the webtoon Gosu announced March 2026, and a substantial content pipeline of approximately 20 new titles unveiled through Disney's November 2024 Asia content event. Studio N is led by CEO Mikyung (Michelle) Kwon and is headquartered in the Fort Hill Building in Yongsan-gu, Seoul. The company is privately held with no disclosed external funding rounds and operates as a wholly-owned subsidiary of Naver Webtoon under Naver Corporation's broader corporate umbrella.

Name

Studio N

Legal name

Studio N Corp.

Website

https://studioncorp.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Studio N is a Seoul-based, Naver Webtoon-owned entertainment production company founded in 2018 that adapts webcomic and web novel IP into films, TV series, and animation for global streaming platforms including Netflix, Disney+, and Korean broadcasters.

Ownership category

akta.pro rank

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

Revenue model

1. Content Production & Licensing: Studio N produces webcomic adaptations for global streaming platforms, generating revenue through production deals and licensing fees. Productions are sold to platforms like Netflix and Disney+ for worldwide distribution.
2. Co-production Partnerships: Partnership arrangements with Asian production companies enabling project-based cost management while leveraging proven local storytelling capabilities for worldwide distribution.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels3 records

Product overview

Studio N is a content production company established in August 2018 as a wholly-owned subsidiary of Naver Webtoon. The company specializes in adapting webtoon and web novel intellectual property into film (movies), television (series), and animation content. The core offering is the IP bridge business model that connects webtoon content with various production partners and distribution platforms. The product portfolio consists of three main production categories: TV Series (adapted webtoon dramas distributed on Netflix, Disney+, tvN, OCN, MBC, SBS, JTBC, TVING, Wavve), Movies (theatrical and streaming films including Unlocked, Brave Citizen, My Daughter is a Zombie), and Animation (including Yumi's Cells The Movie, True Beauty, Your Letter). Studio N leverages Naver Webtoon's platform ecosystem of approximately 160 million monthly active users to identify and adapt proven IP with pre-existing fandoms. The company also develops localized content for international markets through partnerships like the Southeast Asian content co-development deal with Barunson E&A.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• My Daughter is a Zombie became the third highest-grossing Korean film of 2025
• +1 more outcomes

Named customers7 records

Segments3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered major and core.

• ToeimajorStrategic or Co-development Partner · 24 March 2026Studio N is developing an adaptation of webtoon Gosu with Japanese studio Toei (producer of Dragon Ball and One Piece), aiming for release within two years. This cross-border collaboration brings together Studio N's webtoon IP with Toei's animation production expertise.
• DisneycoreChannel Partner/ Reseller/ Distributor · 14 November 2025Disney is restructuring its streaming business and positioning Korea and Japan as global content production hubs. The company unveiled approximately 20 new titles through partnerships with Asian production companies like CJ ENM and Studio N, enabling project-based cost management while leveraging proven local storytelling capabilities for worldwide distribution.
• Barunson E&AmajorStrategic or Co-development Partner · 4 February 2025Studio N and Barunson E&A (studio behind Oscar-winning Parasite) signed MOU to co-develop film and series projects for Indonesia, Thailand, and Vietnam. Partnership aims to create localized content rooted in regional culture with international distribution potential, leveraging Studio N's webtoon and web novel IP library and Barunson E&A's established Southeast Asian relationships including partnerships with Come And See Pictures, Visinema Pictures, and Imajinari in Indonesia.
• NetflixcoreChannel Partner/ Reseller/ DistributorNetflix distributes Studio N's webcomic adaptations including Bloodhounds Season 2 launching April 3 and other productions. Netflix serves as a primary global distribution channel for Studio N's content.
• Naver WebtooncoreOthersStudio N is a fully-owned subsidiary of Naver Webtoon, established in August 2018. The company leverages Naver Webtoon's platform ecosystem including approximately 160 million monthly active users and extensive webcomic/web novel IP library for content development.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Toei Animation: Japanese animation studio (Dragon Ball, One Piece) co-developing Gosu with Studio N. A peer in animation production and global IP franchise building.
• IHQ: Korean drama and film production company (formerly SidusHQ) with a track record of original Korean series for streaming platforms. Overlaps with Studio N in series production for Netflix and Korean broadcasters.
• Studio Dragon: Korea's largest drama production company, listed subsidiary of CJ ENM; produces premium Korean series for Netflix and tvN using a similar IP-to-screen pipeline. Closest direct comparable in business model and customer base.
• Next Entertainment World (NEW): Korean film and series production/distribution company with theatrical and streaming reach. Competes directly for marquee Korean IP adaptations and global distribution slots.
• Barunson E&A: Production company behind Parasite and Studio N's Southeast Asia co-development partner. Comparable Korean production house pursuing cross-border IP adaptations.
• JTBC Studios: Korean drama and film production arm of JTBC; produces premium Korean originals and competes with Studio N for streaming platform commissions and Korean creative talent.

Broad incumbents

• Kakao Entertainment: Operates Kakao Page (a direct webtoon/web novel competitor to Naver Webtoon) and produces Korean series and films. A vertically integrated rival that competes for both source IP and screen output.
• Lotte Entertainment: Korean film production and distribution company with theatrical and streaming reach. Comparable as a domestic production house chasing global SVOD deals.
• CJ ENM: Korean entertainment conglomerate and parent of Studio Dragon, with film, TV, and animation operations including global distribution (Parasite). Broad incumbent competing for the same Korean content wallet of global streamers.

Emerging players

• HYBE: Korean entertainment platform that has expanded from music into content production, drama, and film (e.g., via Belift Lab, HYBE Originals). A adjacent Korean content producer pursuing global IP-driven franchises.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Studio N