Webzen Achieves Record-Breaking Quarterly Revenue Exceeding 100 Billion KRW for the First Time

[Asia Economy Reporter Buaeri] Webzen has achieved quarterly sales exceeding 100 billion KRW for the first time since its founding.

On the 6th, Webzen announced that its sales for the third quarter of this year reached 106.9 billion KRW, with an operating profit of 43.4 billion KRW. These figures represent increases of 125.8% and 134.4%, respectively, compared to the previous year.

The strong performance was driven by Webzen's new releases this year. The mobile game "MU Archangel" ranks 6th in Google Play sales, and "R2M" maintains 7th place. Webzen explained, "We expect to continue this favorable performance for the time being."

Service revenue from "R2M" was reflected only for about one month in the third quarter after its August release, so the revenue share in the fourth quarter, which will fully reflect the performance, is expected to increase further. Webzen is preparing major content updates such as spot battles for "R2M" in November and December.

The success of "R2M" has also alleviated concerns in the market about the concentration of the MU IP (intellectual property). The share of MU IP in Webzen's sales was over 80% in the third quarter of last year but decreased to 68% in this year's third quarter.

The sales share of the "R2" IP increased from 4% in the third quarter of last year to 25% in the third quarter of this year.

Webzen plans to focus on the overseas expansion of R2M for the time being and is reorganizing new development projects at its headquarters and development subsidiaries.

Kim Tae-young, CEO of Webzen, stated, "The growth in this quarter's performance is significant in many ways, including increasing the capacity to develop new games, expanding cash cow game IPs and in-house development capabilities." He added, "We also plan to steadily increase investments such as M&A to secure excellent small and medium-sized developers or development groups. We will continuously diversify our IP business and research next-generation game technologies to enhance both stability and growth."

This content was produced with the assistance of AI translation services.