Nexon, the publisher behind Maple Story, has unveiled its fiscal year 2023 earnings report, showcasing remarkable growth with a 19.7% surge in revenue, marking a record-breaking achievement for the company.
Here are the key figures:
Revenue: ¥423 billion ($2.8 billion), a 19.7% increase compared to the previous year.
Net income: ¥71 billion ($475 million), showing a decline of 29% year-over-year.
Highlights from the report reveal that Nexon managed to bolster its revenues amidst global economic uncertainties by introducing new titles, updates to existing games, and strategic content acquisitions.
The breakdown of Nexon’s performance highlights its success across different market segments:
In Korea, revenue in the PC online business sector surged, fueled by fresh Maple Story content updates.
China witnessed increased consumer spending attributed to popular titles like Dungeon Fighter and MapleStory: The Legends of Maple.
The Japan business segment experienced revenue growth, primarily driven by the performance of the title Blue Archive.
Moreover, North America and Europe witnessed a year-on-year revenue uptick due to the launches of MintRocket’s Dave The Diver and Embark Studios’ The Finals.
Looking ahead, Nexon projects revenue for Q1 in the range of ¥97 billion ($649 million) to ¥107 billion ($716 million), with estimated net income ranging from ¥16.3 billion ($109 million) to ¥23 billion ($154 million).
Nexon also addressed recent sanctions imposed by the Korean Fair Trade Commission due to unfair trade practices in MapleStory. The company acknowledged the negative impact on the game’s community and took proactive measures to enhance the gaming experience.
This included discontinuing sales of a major probability-based item and transitioning to a business model where the same experience is obtained through in-game currency rather than cash transactions. Nexon anticipates a short-term effect on revenue due to these sanctions.
