Mobile games bring huge revenue to KRAFTON

Mobile games bring huge revenue to KRAFTON

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Korean company KRAFTON published a financial report summarizing the results of the first quarter of 2024.

In the first three months of 2024, KRAFTON earned 665.9 billion won, equivalent to 488 million USD. This is a record. On a year-over-year basis, revenue increased 23.6%. KRAFTON’s net profit was 348.6 billion won ($255 million), up 30.5% from the first quarter of 2023.

Mobile games brought in 402.3 billion won ($295 million, up 15.5%) for KRAFTON, PC games brought in 243.7 billion won ($179 million, up 36.5%) and console brought in 11.5 billion won (8.4 million won, up 58.5%).

KRAFTON is pleased with the success of PUBG: BATTLEGROUNDS. According to the company, the game’s sales and monthly active gamers increased to their highest levels since January 2022, since PUBG: BATTLEGROUNDS switched to a free-to-play model. This was achieved thanks to the popularity of the Rondo map and the addition of new weapons.

In April, KRAFTON conducted the first beta test of Dark and Darker Mobile in Korea, which lasted 5 days. More than 50,000 gamers have participated. The mobile game release is planned for later this year.

Besides, the KRAFTON company has invested in Polish studio Far From Home, which is known for its collaborative balloon survival game Forever Skies. The company announced that it would buy a minority stake in this company. The exact amount of shares and value were not disclosed.

Under the terms of the deal, Far From Home will retain independence and full creative control. The studio will use the investment money received to refine Forever Skies and create the next game. Far From Home CEO Andrzej Blumenfeld said the company had no problems raising capital. The game design team can continue to work comfortably thanks to the income from Forever Skies, KRAFTON’s support ensures long-term stability.

Far From Home was founded in 2020 by former employees of another Polish company, Techland. Survival Forever Skies is the studio’s only game to date. The title was released on Steam Early Access in June 2023 and has since sold over 160,000 copies. Expected in 2024, Forever Skies will be fully released on PC and PlayStation 5.