This is a serious game changer to the manga NFT world. Everybody likes reading manga. From children, teenagers to adults, the audience for the manga industry is very broad. Manga’s are sold not only in specialty stores, but also in independent bookstores and bookstores in shopping malls and mass retailers around the world. Manga have popularized the graphic novel format for a wider international audience.
Manga readership has soared to an all time high. In February 2021, The All Japan Magazine and Book Publisher’s and Editor’s Association (AJPEA) revealed that the manga industry in 2020, in just Japan alone, earned a record 612.6 billion yen (about US$5.77 billion) with a stagger proportion it, 342 billion yen (about US$3.22 billion), deriving from digital sales. This fact is further validated by mobile manga reading applications like LINE Manga and Piccoma having reported revenues in the billions of Japanese Yen in 2020.
The readership of manga has steadily increased over the last few years. You can visually check the increasing trend of transaction volume for 4 years by referring to LINE Manga, a manga reading mobile application. This means that digital publishing has made manga easier to access and cheaper to adopt, and the number of manga readers has increased significantly. A growing demand for manga content on the internet. Just between 2019 and 2020 alone, LINE has reported 31.5% year-on-year growth in transaction volumes in their quarterly filings for the LINE Manga mobile application.
According to the the figures of the KakaoTalk-owned Pitcoma Manga Reading mobile application, year-over-year revenue growth from Q3 2019 to Q3 2020 alone is up to 247%.
Advanced manga circulation over the web is a quickly developing industry. The profit of advanced deals of manga in Japan took off to an unsurpassed high of 342.0 billion yen (about US$3.22 billion) in 2020 alone. This figure is relied upon to develop a lot bigger as this development is still in the start of a vertical pattern.
Validated by the way that marketing alone gathers the biggest piece of Japan’s anime income at 44.36% of the 1.3 trillion yen profit in 2019, this profoundly valuable industry has created an extremely amazing subculture in garnering sales.
Sales for manga are up around the globe. In a recent article written by Megan Peters of comicbook.com, Ben Applegate, the Director of Publishing Services at Penguin Random House in New York, where he heads a team of editorial and production professionals dedicated to publishing new manga, even cautioned fans to purchase their manga now except if they run into some republish issues. “Sales of manga have more than tripled from Q1 2020-Q1 2021 and there isn’t enough printer capacity to keep even some midlist titles in stock” said Ben.
Despite the pandemic, 2020 is a landmark year for foreign manga book sales, and local publishers in the United States have been overdoing it as well. Viz Media confirmed that its sales in the US market increased by 70% last year and that the publisher is suffering from similar out-of-print series.
According to NPD BookScan, the manga buying spree continues in 2021. Sales of print manga titles in the U.S. increased by 3.6 million units in the first quarter of 2021 compared to the same period in 2020.
One of the driving forces of manga really taking off in the past ten years, is anime. The unstoppable increasing popularity of anime on streaming platforms such as Netflix, Amazon Prime, Hulu, and the anime-centric platform Crunchyroll is as well fueling interest in its source material. Fans of manga do not merely read these comic books but treat them as collectibles, some of which have high resale values. These make manga ideal for NFT adaptation. And people became more than willing to pay for these collectibles in their digital forms.
With this in mind, it is evident that the manga industry is a perfect candidate for NFT adaptation as it has a strong community following the artists’ creations as well as the willingness to pay for collectible merchandise. Manga token helps build traction in the manga community for interaction and growth. The manga community will be encouraged and rewarded with great content and genuine digital merchandise.
We believe that Manga Token will revolutionize and disrupt the manga industry as it successfully addresses the horizontal expansion of the industry. For instance, digital manga market worth ~USD 3.13 billion in 2020 and is expected to grow ~30% year-on-year. The increase in the readership of international digital manga certainly does not stand still. All the evidences and data gathered speaks for growth and manga token will soon explode…