BloomZ Announces Strategic Business Alliance with Foom Co. Ltd. to Expand into the Webtoon Industry

Rhea-AI Summary

BloomZ (NASDAQ:BLMZ) has announced a strategic business alliance with Foom Co., , a Tokyo-based webtoon production company, to expand into the webtoon industry. The global webtoons market, valued at $8.28 billion in 2023, is projected to grow at a 27.3% CAGR from 2024 to 2030.

Foom has experience in adapting manga IPs like Dororo and Captain Harlock into webtoons and maintains strong relationships in Asia and the Middle East through its partnership with South Korea's Gatchi Communication. The alliance aims to combine BloomZ's anime production and VTuber expertise with Foom's webtoon capabilities to create innovative content for global audiences.

Positive

• Entry into rapidly growing webtoon market valued at $8.28 billion
• Market projected for strong growth at 27.3% CAGR (2024-2030)
• Partnership provides access to established webtoon production capabilities
• Geographic expansion through Foom's existing relationships in Asia and Middle East

Negative

• None.

Insights

Market Research Analyst

The strategic alliance between BloomZ and Foom represents a calculated move into the high-growth webtoon market, which is projected to expand at an impressive 27.3% CAGR through 2030. With the current market size of $8.28 billion, this partnership leverages BloomZ's anime and VTuber expertise alongside Foom's established webtoon capabilities and regional connections. Foom's track record with major IPs like Dororo and their partnership with Gatchi Communication provides immediate credibility and distribution channels. For BloomZ, with its modest market cap of $8.3 million, this alliance offers a capital-efficient way to enter a lucrative market segment while diversifying revenue streams. The timing is particularly strategic as Japan's domestic webtoon market shows increasing adoption, potentially offering early-mover advantages in a market traditionally dominated by manga.

Tech Expert

This alliance strategically positions BloomZ at the intersection of traditional anime and digital content evolution. Webtoons represent a significant technological shift in content consumption, offering vertical scrolling formats optimized for mobile devices and digital platforms. The combination of BloomZ's VTuber technology expertise with Foom's webtoon production capabilities could lead to innovative hybrid content formats. The digital-first nature of webtoons also provides valuable data analytics opportunities, enabling better content optimization and targeted audience engagement. The partnership could potentially explore emerging technologies like AI-assisted art production and interactive storytelling features, which are becoming increasingly important in the digital comics space.

TOKYO, JAPAN / ACCESSWIRE / December 9, 2024 / BloomZ Inc. (NASDAQ:BLMZ) ("BloomZ" or the "Company"), a leading Japanese anime production, audio production, and voice actor management company, announced a strategic business alliance with Foom Co., Ltd. ("Foom"), a Tokyo-based company specializing in webtoon production, to expand its presence into the webtoon industry.

The global webtoons market has experienced remarkable growth, valued at approximately USD $8.28 billion in 2023¹, with projections to grow at a compound annual growth rate (CAGR) of 27.3% from 2024 to 2030¹. Known for its rich manga culture, Japan's webtoon industry is steadily gaining traction, fueled by the rising popularity of digital comics among local audiences.

Foom has a proven track record of successfully adapting renowned manga IPs, such as Dororo and Captain Harlock, into webtoon formats. Foom also holds strong relationships across Asia and the Middle East regions through its partnership with South Korea's Gatchi Communication Co. Ltd. By combining BloomZ's visual storytelling experience through its anime production and VTuber experience and Foom's webtoon planning and production capabilities, the partnership aims to deliver innovative webtoon content that reaches a global audience.

"I am pleased to announce our strategic business alliance with Foom, marking BloomZ's entry into the rapidly growing webtoon industry," said BloomZ CEO Kazusa Aranami. "With the increasing demand for webtoon content among Japanese audiences, we see a significant opportunity to tap into this growing market. By leveraging our experience in anime production and the VTuber space, we aim to bring a unique perspective that complements and enhances Foom's webtoon planning and production capabilities to deliver high-quality webtoon content. We look forward to working closely with Foom's team to produce new projects for a growing audience."

¹Source: Grand View Research

About BloomZ Inc.

BloomZ is a Cayman Islands holding company with an operating subsidiary, Kabushiki Kaisha BloomZ ("BloomZ Japan"), in Japan. BloomZ Japan is a Japanese audio producing and voice actor and VTuber managing company. BloomZ Japan has experienced staff who have worked on audio production for animations and video games for more than 10 years. BloomZ Japan also manages, cultivates and promotes voice actors and VTubers.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

BloomZ Investor Contact

John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
Email: bloomz@gateway-grp.com

SOURCE: BloomZ

View the original press release on accesswire.com

FAQ

What is the value of the global webtoons market in 2023 according to BloomZ (BLMZ)?

According to the press release, the global webtoons market was valued at approximately $8.28 billion in 2023.

What is the projected CAGR for the webtoons market from 2024 to 2030 as mentioned by BloomZ (BLMZ)?

The webtoons market is projected to grow at a compound annual growth rate (CAGR) of 27.3% from 2024 to 2030.

Which manga IPs has Foom adapted into webtoons according to BloomZ's (BLMZ) announcement?

According to the announcement, Foom has successfully adapted manga IPs such as Dororo and Captain Harlock into webtoon formats.

Who is BloomZ (BLMZ) partnering with for webtoon production in December 2024?

BloomZ is partnering with Foom Co., , a Tokyo-based company specializing in webtoon production.