Krafton posts record earnings in 2024 on upbeat overseas sales
Korean gaming giant Krafton posted record earnings last year as the company continued to ride the global popularity of its megahit battle royale shooter PUBG: Battlegrounds.
According to Krafton on Tuesday, the game developer posted 2.71 trillion won ($1.87 billion) in revenue and 1.18 trillion won in operating profit in 2024, up 41.8 percent and 54 percent on-year, respectively.
Crediting the success of its PUBG intellectual property's steady success, Krafton pointed out that the battle royale shooting game has resulted in an average annual growth rate of 20 percent in sales over the past five years, while the number of the game's peak concurrent users hit a record high of 890,000 users last year.
PUBG's mobile version carried on its positive momentum across the globe, including in emerging markets. In particular, Krafton highlighted that Battlegrounds Mobile India achieved its highest sales ever last year, contributing to a 35.7 percent year-on-year upturn in the company's mobile sales.
The company plans to conduct significant investments in production to secure a big franchise intellectual property as it builds on the expansion of the PUBG series, announcing its mid- to long-term goal of surpassing 7 trillion won in annual revenue and doubling its enterprise value within the next five years.
'While continuing to expand the PUBG IP, we will accelerate the discovery of a new franchise IP to further reinforce our competitive edge in the global gaming market,' said Krafton CEO Kim Chang-han.
'With our AI technology defining the future of gaming experiences, we aim to evolve beyond game development as a company that ultimately advances the global entertainment ecosystem.'
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