Baobab Studios has secured a strategic investment from Naver Ventures, the U.S.-based venture investment arm of Naver Corporation, the 10-time Emmy-winning transmedia animation studio has revealed.
\n\nNaver Corporation is one of South Korea’s largest internet companies and the parent of Webtoon Entertainment Inc. Variety understands the investment is worth seven figures and values Baobab above its previous round, an up-round that reflects rising confidence in the studio’s capacity to build IP spanning Asia and North America and to grow Gen Z franchises in both directions across platforms.
\n\nThe first project under the new slate is “Shine” (working title), an original fantasy adventure co-created by Oscar-nominated filmmaker Erick Oh and webtoon author Madeleine Rosca. The logline: when the balance between the human and spirit worlds is shattered, a half-human girl must bridge the divide to save a futuristic Korea.
\n\nBaobab is developing “Shine” alongside Webtoon as a digital webcomic series, tapping a platform where 75% of monthly active readers are Gen Z. The digital release will be paired with a print graphic novel from First Second Books, an imprint of Macmillan Publishers. Baobab retains film, television, streaming and gaming rights to the property.
\n\n“At Baobab, we are driven by stories that…
Original source: https://variety.com/v/tv/