Korean mobile video game publisher and developer Netmarble reported $465.98 million in revenue and $8.38 million in EBITDA in the second quarter of 2023. Overseas sales accounted for 86% ($400.92 million) of total global sales.
During the first half of 2023, Netmarble earned $931.41 million in sales and $23.89 million in EBITDA. The company reported an operating loss of $50.53 million and a net loss of $69.41 million. North America led revenues (52%) with diversification across other key territories as follows: Korea (14%), Europe (12%), Southeast Asia (10%), Japan (6%), and other regions (6%). Netmarble’s portfolio showed genre diversification across Casual Games (48%), RPG (30%), MMORPG (13%), and other genres (9%). Top performing titles for the second quarter included: MARVEL Contest of Champions (12%) (Kabam), Jackpot World (10%), Cash Frenzy (9%), Lotsa Slots (8%), The Seven Deadly Sins: Grand Cross (6%). All other games contributed to 55% of the company’s earned revenue
”We’ve been seeing sustained growth from games like Tower of God: New World, which reached the top 5 revenue charts in the Korean App Store and Google Play Store, and a game based on Netmarble’s Stone Age IP, which is maintaining a top rank in the Chinese App Store,” said Young-sig Kwon, CEO of Netmarble. “We look forward to launching new titles in the second half of the year, such as Arthdal Chronicles and Solo Leveling: ARISE, despite performance being affected by an absence of new games and revenue decrease of existing titles in the first half.”
Following the global launch of the new 4X strategy game GRAND CROSS: AGE OF TITANS on August 9, Netmarble will release six more new global titles within the second half of the year, such as Seven Knights Idle Adventure, King Arthur: Legends Rise, Arthdal Chronicles (tentative name), Solo Leveling: ARISE, Paragon: The Overprime, and Meta World: My City (launching in Korea). Netmarble also plans to launch three titles in China, including Ni no Nuni: Cross Worlds, The Seven Deadly Sins, and A3: Still Alive.
The Details on Netmarble’s quarterly performance can be downloaded from the company’s Investor Relations page.
