Krafton Reports Record Earnings for First Half of 2024 Fueled by PUBG Success
Jason Yim / Published August 12, 2024 10:40 PM
Jason Yim
Courtesy of Krafton
Krafton, the South Korean video game developer behind the globally popular battle royale title PUBG: Battlegrounds, has announced record-breaking financial results for the first half of 2024. The company reported an impressive 1.37 trillion won ($1 billion) in revenue and 642.6 billion won in operating profit for the January-to-June period, marking increases of 48.3% and 55%, respectively, from the previous year.
In the second quarter alone, Krafton achieved new highs with 707 billion won in revenue and 332.1 billion won in operating profit. This exceptional performance is largely attributed to the sustained success of PUBG across multiple platforms.
The company highlighted that the continued popularity of PUBG was a key driver behind these results. The release of the Erangel Classic map and a high-profile collaboration with K-pop group NewJeans led to a significant rise in traffic for the game's PC and console versions. Monthly active users increased by 40% compared to the same period last year, and the number of paying users more than doubled.
The mobile versions of PUBG, including PUBG Mobile and Battlegrounds Mobile India (BGMI), also contributed to the strong financial performance. Krafton noted that localized content and enhanced monetization strategies had a positive impact, with PUBG Mobile benefiting from collaborations with Middle Eastern actors and upgradable outfits. BGMI saw increased engagement through events like the US Bonus Challenge and partnerships with local cricket teams.
Looking ahead, Krafton plans to launch two major titles in the latter half of 2024: Dark and Darker Mobile, a fantasy extraction role-playing game, and Inzoi, a life simulation game. Both titles will be showcased at Gamescom in Cologne, Germany, starting August 21. Dark and Darker Mobile is set for a global release in Q4, while Inzoi is expected to enter early access by the end of the year.
Additionally, Krafton has been expanding its portfolio by investing in 27 companies globally since 2021, including 14 in North America and eight in Europe. The company also announced its first significant investment in Japan by scouting personnel from Tango Gameworks, a Japanese game developer known for titles like Hi-Fi Rush and The Evil Within. Tango Gameworks was acquired by Microsoft in 2021 but ceased operations in May 2024.
Sayart / Jason Yim, yimjongho1969@gmail.com
Courtesy of Krafton
Krafton, the South Korean video game developer behind the globally popular battle royale title PUBG: Battlegrounds, has announced record-breaking financial results for the first half of 2024. The company reported an impressive 1.37 trillion won ($1 billion) in revenue and 642.6 billion won in operating profit for the January-to-June period, marking increases of 48.3% and 55%, respectively, from the previous year.
In the second quarter alone, Krafton achieved new highs with 707 billion won in revenue and 332.1 billion won in operating profit. This exceptional performance is largely attributed to the sustained success of PUBG across multiple platforms.
The company highlighted that the continued popularity of PUBG was a key driver behind these results. The release of the Erangel Classic map and a high-profile collaboration with K-pop group NewJeans led to a significant rise in traffic for the game's PC and console versions. Monthly active users increased by 40% compared to the same period last year, and the number of paying users more than doubled.
The mobile versions of PUBG, including PUBG Mobile and Battlegrounds Mobile India (BGMI), also contributed to the strong financial performance. Krafton noted that localized content and enhanced monetization strategies had a positive impact, with PUBG Mobile benefiting from collaborations with Middle Eastern actors and upgradable outfits. BGMI saw increased engagement through events like the US Bonus Challenge and partnerships with local cricket teams.
Looking ahead, Krafton plans to launch two major titles in the latter half of 2024: Dark and Darker Mobile, a fantasy extraction role-playing game, and Inzoi, a life simulation game. Both titles will be showcased at Gamescom in Cologne, Germany, starting August 21. Dark and Darker Mobile is set for a global release in Q4, while Inzoi is expected to enter early access by the end of the year.
Additionally, Krafton has been expanding its portfolio by investing in 27 companies globally since 2021, including 14 in North America and eight in Europe. The company also announced its first significant investment in Japan by scouting personnel from Tango Gameworks, a Japanese game developer known for titles like Hi-Fi Rush and The Evil Within. Tango Gameworks was acquired by Microsoft in 2021 but ceased operations in May 2024.
