Yahoo Finance Tapas Media aims to turn digital comics into the next big entertainment franchise
Tapas Media has its own platform for digital comics — but like a lot of publishers, CEO Chang Kim has ambitions beyond the comics world.
Comixology is the big name in digital comics. The company, which was acquired by Amazon in 2014, is focused on selling print comics from major publishers in web- and mobile-friendly formats. (It's also working with publishers like Marvel to create exclusively digital content.)
That's a very different approach from Tapas, which Kim compared to YouTube — it allows individual creators to publish their work and (hopefully) reach an audience. And unlike the superhero-dominated world of American comics, the most popular titles on Tapas seem to be more romance and fantasy themed, and are usually drawn in a style that's closer to Japanese manga.
Tapas was founded in 2013, and it now says the platform has more than 32,000 creators who have created more than 48,000 titles. And it's reaching an audience of 2.1 million monthly visitors.
The comics themselves are monetized through micropayments. Usually, the first few chapters of a title are free, then you have to pay to keep going.
Chang said his team is also working with some of the most popular creators on the platform to develop new intellectual property, which could be translated into movies or TV or other media. Eventually, he said he's hoping that Tapas could launch the next Harry Potter.
That level of success is a long way off, but Tapas is already exploring ways to adapt its IP. For example, it's announcing a partnership with Red Kraken Apps to develop a mobile puzzle game based on its Dungeon Construction Co. comic.
In addition, the company has partnered with Hachette Book Group and Ten Speed Press on titles, and it's signed distribution deals with Tencent and Kakao.
Tapas announced earlier this month that it has raised $5 million in additional Series A funding. (The company has raised $10.8 million total.) Now it's revealing more details about the round, which comes from ID Ventures, SBI Investment Korea, Medici Investment and EN Investment. Sean Park of ID Ventures is joining the board of directors.
"ID Ventures invested in Tapas Media because we believe in the impact their platform has on the digital and mobile publishing industries," Park said in a statement. "Their remarkable extension into licensed content and co-development will see their continued dominance, as ID Ventures’ investment looks to help Tapas Media capitalize on their platform’s adoption and innovation as well.”
