Mobile Developer Netmarble Experiences Profit Decline in 2019

Netmarble Corp. recently published its fourth quarter earnings for fiscal year 2019 and the results are somewhat unexpected. Netmarble’s quarter four year-over-year revenue growth for 2019 increased by 13.3% but it still experienced a decline of 11% from the previous quarter and a overall net profit decrease of 26.1% for all of 2019.

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Normally, when we think of the mobile game industry, the first thing that comes to mind is the explosive growth in recent years, but that appears to be slowing. Netmarble is one of the most prominent developers and publishers of mobile games in the world and has some incredibly high-profile titles like Lineage 2: Revolution, Marvel Future Fight, BTS World, and The King of Fighters Allstar. The company was clearly busy last year with a number of new releases, but clearly expenses outweighed revenue as sales only increased by 7.6% while operating profit decreased by 16.5% and net profit decreased by 26.1%.

The following statement was made by Netmarble Co-CEO Seungwon Lee:

“The launches of our AAA mobile titles such as THE KING OF FIGHTERS ALLSTAR, BTS WORLD, and the continued success of our ongoing titles like Lineage 2: Revolution and MARVEL Contest of Champions, demonstrate our ability to deliver globally acclaimed games year after year. Following Magic: ManaStrike’s worldwide January launch, The Seven Deadly Sins: Grand Cross’ global release in March, and upcoming launches of Blade & Soul Revolution in Asia in Q2 and the global launch of MARVEL Realm of Champions in the first half of 2020, we continue to produce innovative, exciting new titles while supporting our diverse portfolio of world-class, mobile gaming experiences in 2020.”

 

Source: Press Release

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