The Power of 'Jonbeo'... The Rebellion of Devsisters' 'Cookie Run' [Buaeri's Game Dictionary]

[Asia Economy Reporter Buaeri] It has been eight years since the small and medium-sized game company Devsisters released the 'Cookie Run' intellectual property (IP) to the world. Back in 2014, ahead of its IPO, CEO Lee Ji-hoon's dream of creating a hit like 'Super Mario' in Korea was considered ambitious, but now it is gradually becoming a reality. Devsisters' 'Jonbeo (endurance)' strategy has shone through.

'Cookie Run: Kingdom' Jackpot... Record-Breaking Performance

According to Devsisters on the 1st, the company posted 105.4 billion KRW in sales and 23.8 billion KRW in operating profit in the first quarter of this year. Sales increased by 475% compared to the previous year, and operating profit not only turned positive but also reached an all-time high. Securities firms estimate that this year Devsisters will break free from six years of continuous losses and record operating profits in the 100 billion KRW range.

The first-quarter sales of 'Cookie Run: Kingdom,' released last January, amounted to 85.5 billion KRW. 'Cookie Run: OvenBreak' also surpassed concerns of cannibalization (where a new product eats into the market of an existing main product) and broke its own record for quarterly sales.

Persistent 'Cookie Run' Despite Years of Losses

Cookie Run: Kingdom is a new title based on Devsisters' flagship IP, 'Cookie Run.' It is a character-collection role-playing game (RPG) where players embark on adventures and battles with cookies and build their own kingdoms. It has been praised by domestic and international users for its high level of completeness, featuring the fun of strategically combining characters in battles and progressing through battles following the cookies' narratives.

Devsisters first released 'Cookie Run for Kakao' in 2013 and gained recognition in overseas markets in 2014 with 'LINE Cookie Run.' The game was serviced based on users of Naver's subsidiary LINE messenger and achieved first place in popularity rankings in 12 countries including Thailand, Taiwan, Hong Kong, Singapore, and Japan at the time.

However, Devsisters failed to release hit titles to prepare for the decline in 'Cookie Run' users and walked the path of losses after 2015. Operating losses were 4.1 billion KRW in 2015, 12.1 billion KRW in 2016, 14.8 billion KRW in 2017, 12.3 billion KRW in 2018, 22.2 billion KRW in 2019, and 6.1 billion KRW in 2020, experiencing bitter times.

Despite years of losses, Devsisters continued its steady challenge with 'Cookie Run.' They consistently developed 'Cookie Run' IP games by incorporating puzzle and defense genres into 'Cookie Run.' Ultimately, their persistence toward Cookie Run paid off. Currently, 'Cookie Run: Kingdom' has grown to rank third in Google Play sales, following NCSoft's Lineage M and 2M.

Continuing Growth with New Releases

Devsisters plans to focus on developing new titles 'Brick City' and 'Safe House,' aiming for release in the second half of the year, while also targeting overseas markets such as the US and Japan for Cookie Run: Kingdom.

Devsisters stated, "We have succeeded in a quarterly performance turnaround based on the success of Cookie Run: Kingdom and the steady expansion of Cookie Run: OvenBreak. We aim to continue the remarkable growth of corporate value through continuous revenue growth of major live games and momentum from new releases in the second half of the year."

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