South Korean writer and developer Krafton has introduced its monetary outcomes for the second quarter of 2024. The corporate reported report excessive income and working earnings, setting information for the primary half of the yr.
In Q2 2024, Krafton reported earnings equal to roughly $532 million, bringing its H1 efficiency to $1.04 billion. In comparison with the identical intervals the prior yr, Krafton’s income grew 83% from Q2 2023 and 48% from H1 2023. Collectively, Q1 and Q2 2024 set report excessive gross sales for 2 consecutive quarters.
In H1 2024, each PC and Cellular noticed main positive aspects in comparison with the earlier yr. In comparison with H1 2023, PC income is up 47% whereas cellular income grew 52%. Nonetheless, console income fell 23% throughout the identical interval.
Immediately, about two-thirds of Krafton’s income comes from its cellular merchandise whereas PC and Console account for a couple of third mixed. Since 2020, PC and Console doubled its share of Krafton’s income — rising from 17% in H1 2020 to 33% in H1 2024.
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Equally to its income, Krafton set a brand new report excessive for working earnings for the primary half of 2024. On this interval, the corporate earned about $485 million in working earnings — up 55% from H1 2023. In reality, 2024’s its working earnings within the first half of 2023 has already reached 84% of 2023’s complete annual working revenue.
Based on Krafton, this report setting progress is because of sustained progress of its PUBG franchise. The battle royale title’s energetic customers and paying customers grew in H1 2024 on each PC and cellular. On PC, Month-to-month energetic customers grew 40% whereas paying customers grew 130% in H1 2024 in comparison with H1 2023. In the meantime, PUBG Cellular’s day by day energetic customers have been up 30% and paying customers have been up 40% in the identical interval.
Krafton’s progress technique
With these funds, Krafton has invested into new video games and new studios for second get together publishing. In-house, Krafton is gearing up for 2 main releases in 2024: extraction RPG Darkish and Darker Cellular and life simulator Inzoi.
Externally, Krafton has acquired or invested in 27 studios since 2022 with 11 of those taking place in 2024 to this point. Most not too long ago, Krafton acquired the event crew behind Tango Gameworks — finest recognized for his or her 2023 hit Hello-Fi Rush.
Krafton can be difficult the established order of layoffs by increasing its headcount. The corporate has 3,409 workers — up roughly 10% from the beginning of 2024.
Going ahead, Krafton’s sustainable progress technique consists of additional funding within the PUBG IP and persevering with to safe new IPs by way of strategic acquisitions. The corporate revealed plans to create new video games in varied genres that includes the PUBG IP that synergize with its core product. A part of this technique consists of funding in fandom expression like esports and localized content material.
Moreover, Krafton highlights its use of AI to drive gameplay improvements. Within the second half of 2024, the corporate will absolutely launch two new titles — Magical Mic Duel and Uncover the Smoking Gun — that use AI for emergent gameplay.