Korean web novels rake in 50 million won a day

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As paperbacks move over to make room for e-books, what’s become popular to readers in Korea is the serialized romance novels published online.

Last year’s hit TV drama “Moonlight Drawn by Clouds” was first a weekly web novel before it was made into a TV show.

Celebrity actor Park Bo-gum aside, it was clear to industry insiders from the beginning the show would be a success, based on the staggering 50 million accumulated views the original novel had garnered.

During the time the drama aired, the novel raked in 500 million won ($418,000) in profits through a pay-per-read deal.

Accessible on platforms such as Naver, KakaoPage, Joara, Munpia, Bookpal and more, online romance novels are raking in as much as 50 million won a day for their respective online platforms in Korea.

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Source: The Korean Herald