The First Descendant and MapleStory drive Nexon’s record-breaking Q3 results
In their most recent financial report, Nexon revealed that they achieved record-breaking quarterly revenue and operating income in the third quarter of 2024 (July 1 to September 30). This was thanks in part to the successful launch of The First Descendant and the strong performance of MapleStory’s localized versions.
In Q3, Nexon experienced 15% vertical growth due to the combined performances of three major game franchises, Dungeon & Fighter (i.e. Dungeon Fighter Online), MapleStory and EA Sports FC. The Dungeon & Fighter franchise grew 142% due to the successful launch of Dungeon & Fighter Mobile in China back in May.
Originally a South Korea exclusive, MapleStory grew by 23% (YoY) in Q3, and 40% of the franchises’ revenue came from outside the country, primarily Japan, North America and Europe. Nexon is making ongoing efforts to tailor the game’s content to suit local audiences as part of its localization strategy. MapleStory recently ran a collab event with Demon Slayer, which caught people’s attention in Japan for a different reason.
As Nexon previously predicted, The First Descendant made a strong contribution to the company’s Q3 profits and horizontal growth. The company reports that the FTP looter shooter got off to a flying start when its release version dropped in July, performing particularly well in Western markets, which accounted for approx. 75% of the game’s global revenue. Nexon plans to continue updating the game with new content in line with player feedback. Its other shooter franchise, THE FINALS, improved its playerbase retention in Q3, with the release of Season 4.
President and CEO of Nexon Junghun Lee commented; “Over the next few quarters, we plan to continue investing in our long-term vision to achieve step-change growth in our revenue and operating income by strengthening existing franchises and growing our IP portfolio.”
Nexon’s Q3 results were as follows:
Net sales: 135.6 billion yen (up 13% year-on-year)
Operating profit: 51.5 billion yen (up 11% year-on-year)
Net profit: 27.0 billion yen (down 23% year-on-year) (due to exchange rate-related loss)
