South Korea’s largest mobile gaming company Netmarble reported $484.99 million in revenue and $18.79 million in EBITDA for the third quarter of 2023, an increase from the previous quarter. Overseas sales accounted for 83% ($400.42 million) of total global sales.
Cumulatively for 2023, Netmarble earned $1.41 billion in sales and $42.58 million in EBITDA. The company reported an operating loss of $67.15 million. North America led revenues (47%) with diversification across other key territories as follows: Korea (17%), Europe (12%), Southeast Asia (10%), Japan (6%), and other regions (8%). Netmarble’s portfolio showed genre diversification across Casual Games (44%), RPG (35%), MMORPG (10%), and other genres (11%).
Top performing titles for the third quarter included: MARVEL Contest of Champions (10%) (Kabam), Jackpot World (9%), Cash Frenzy (8%), Lotsa Slots (8%), Seven Knights Idle Adventure (5%), Tower of God: New World (5%), and The Seven Deadly Sins: GRAND CROSS (5%).
“Netmarble recorded strong performance in the third quarter, with recently launched titles Seven Knights Idle Adventure and Tower of God: New World demonstrating remarkable achievements,” said Young-sig Kwon, CEO of Netmarble. “We’re expecting this momentum to carry into the end of the year, and we’re also anticipating a further boost in performance in 2024 as we prepare to launch six new titles during the first half of the year.”
These new launches include Arthdal Chronicles: Three Factions, Solo Leveling: ARISE, Paragon: The Overprime, Raven 2, and King Arthur: Legend Rises, as well as the launch of Meta World: My City in Korea. Ni no Kuni: Cross Worlds will also be launched in China.
