Nexon to become first game company to surp... > IT/과학기사 | it/science

Nexon Co. and Krafton Inc., South Korea’s two dominant game companies, are projected to achieve record-breaking sales for 2024. Despite the overall industry downturn during that year, both companies strengthened their leading positions thanks to the success of their flagship intellectual properties and overseas performance.

According to multiple sources from the game industry and FnGuide Inc. on Thursday, Nexon is projected to achieve 1.19 trillion won $814.9 million in operating profit for 2024 on sales of 4.1 trillion won, the first time in its history that revenue has exceeded 4 trillion won.


The figures incorporate projections made by Nexon’s Japan branch during its 2024 third-quarter earnings release, with the company’s solid franchise IPs, such as MapleStory, alongside the popularity of Dungeon amp; Fighter Mobile in China, the key factors that contributed to this performance. According to market research firm Sensor Tower, Dungeon amp; Fighter Mobile generated over $1.06 billion in revenue within seven months of its May 2024 release in China.

Similarly, Krafton, which already surpassed 2 trillion won in revenue in the third quarter of 2024, is projected to post annual figures of 2.7 trillion won in revenue and 1.2 trillion won in operating profit. The success of the “Battleground” IP, particularly in markets like India, continues to drive its growth, setting new records for both revenue and profit.

Smilegate, which recorded 490.5 billion won in operating profit on sales of 1.38 trillion won in 2023, is also expected to rebound in 2024, with operating profit likely to exceed 500 billion won. The company’s success is anchored by its popular massively multiplayer online role-playing game, “Lost Ark,” and hit title Crossfire’s popularity in China.

Although Smilegate is unlisted, making revenue estimates challenging, analysts attribute its impressive performance to the launch of its new MMORPG, Road Nine, which was the top-selling domestic release in the second half of 2024.

“While we may not hit 2022’s peak performance, the results will significantly improve compared to 2023 with sales of 1.5 trillion won and operating profit of 643 billion won,” a company official said.

Despite trailing behind NCSoft Corp. and Netmarble Inc. in revenue, Smilegate’s high operating margins highlight its growth potential, and Industry analysts predict that the company could become a new leading player.

Its plans for 2025 include the release of the subculture game, Chaos Zero Nightmare, and its highly anticipated core IP title, Lost Ark Mobile.

The overarching themes for the gaming industry in 2025 are the sustained growth of flagship IPs and the expansion of service lineups through new IP development.

“We will secure a new big franchise IP to follow Battleground,” Krafton chief executive officer Kim Chang-han said. “We will also expand investments in our in-house studios.”

Nexon is focusing on the release of First Berserker: Khazan, which is based on its Dungeon amp; Fighter IP and Mabinogi Mobile, while also ramping up efforts to develop new games.

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