Webtoon Entertainment Inc. (NASDAQ:WBTN) shares surged more than 58% in after-hours trading on Monday after announcing a partnership with The Walt Disney Co. (NYSE:DIS) to build a digital comics platform that will bring together decades of Marvel, Star Wars, Pixar and Disney titles.

A First-Of-Its-Kind Comics Hub

For the first time, more than 35,000 comics from across Disney's portfolio -- including Marvel, Star Wars, Pixar and 20th Century Studios -- will be available in one subscription-based platform.

The new service, which will expand upon Marvel Unlimited, will be built and operated by Webtoon Entertainment.

Disney+ subscribers will also receive access to a curated selection of titles through the Disney+ Perks program at no extra cost.

"By uniting our unparalleled collection of comics across Marvel, Star Wars, Disney, Pixar and 20th Century Studios into a single digital platform, we’re giving fans unprecedented access to the adventures they love – all in one place," said Josh D'Amaro, chairman of Disney Experiences.

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Global Reach And Creative Collaboration

The platform will feature both vertical-scroll and traditional comic formats, mixing archived runs with original stories. Select titles will also be localized for Webtoon's Korean and Japanese markets.

Junkoo Kim, founder and CEO of Webtoon Entertainment, called the partnership a milestone.

"With a new platform that will combine our product and technical expertise with Disney’s full comic catalog, we’re giving new and longtime fans all over the world a new way to discover these legendary characters and stories."

Equity Interest And Expansion Plans

Alongside the collaboration, Disney and Webtoon signed a non-binding term sheet for Disney to acquire a 2% equity stake in Webtoon Entertainment, subject to definitive agreements and closing conditions.

The move builds on a multi-year collaboration announced last year, which reformatted nearly 100 Disney classics for Webtoon's vertical-scroll style.

Financial Context

Webtoon reported second-quarter revenue of $348.3 million, up 8.5% year-over-year, with growth across paid content, advertising and IP adaptations.

Meanwhile, Disney reported third-quarter revenue of $23.7 billion, a 2% year-over-year increase, with Disney+ subscriptions climbing to 128 million.

As of Monday's close, Webtoon shares gained 5.06% during regular trading before soaring 58.36% after hours, while Disney stock slipped slightly, according to Benzinga Pro.

Benzinga's Edge Stock Rankings show that TSLA maintains strong momentum across short, medium and long-term periods, with further insights available for investors.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.