There've been a few threads going on about the Webtoons Contests that will probably bring you up to speed on how people are feeling about it and Webtoons in general.
Overall, there have been mixed feelings about the contest. There had been moments where Webtoons had advertised certain contest entries over others, which of course made some people suspect favoritism. And then there's the whole situation with the Ads revenue, which people are also questioning.
Of course, there are still those who support Webtoons and are definitely on board, but even then, not everyone is really trying to depend on them or the contest.
The prize money is lovely, but a lot of people are thinking more than that. A lot of people, especially veteran creators, didn't join the contest strictly for the money. Also, it's not just money. They're not going to just give you money. Here's the breakdown:
8 winners win $5,000 and a chance to be signed on.
4 finalists win $25,00 and a chance to sign on.
The grand-prize winner wins $50,000 and a possible sign on.
That's over $100,000 in prize money. But they're not just going to GIVE the prize money. They're trying to find people to give contracts to. And I believe if you win but refuse the contract, you're not getting the money. They will go to someone else because let's face it -- who's going to give $80,000 to someone who says "no" to their offer?
A lot of the veteran creators didn't do it for the money. Even those starting out didn't really do it for the money. It was more for exposure, to possibly gain a larger audience, and to expand their brand.
So the answer why some people have stopped, it varies:
People might've stopped because they don't want to sign on a contract .They did the bare minimum and just wanted exposure.
People felt they bit off more than they could chew and got overwhelmed. It happens to all of us at some point, but they're just not ready to sign onto something as big as a contract.
Life got in the way. Something more important than the contest came up, and they decided to back out and focus on other things. Either that or they just lost interest.
Some people have grown to distrust Webtoons. Whether that's because of early moments in the contest or because of other things, they just decided to back out.