KRAFTON Achieves Record-Breaking Financial Performance in 2024
KRAFTON's impressive financial performance in 2024 and its strategic vision for 2025 set the stage for continued growth and innovation in the global gaming industry.
Image Credit: KRAFTON
KRAFTON, a prominent player in the gaming industry, has reported impressive financial results for the year 2024 based on consolidated financial statements in accordance with Korean International Financial Reporting Standards (K-IFRS). The company's annual sales amounted to 2.7098 trillion KRW and operating profit (OP) reached 1.1825 trillion KRW, both breaking previous yearly records with YoY increases of 41.8% and 54.0% respectively.
Steady Growth of PUBG IP
The success of KRAFTON's flagship title, PUBG: BATTLEGROUNDS, has been a significant driver of this growth. The PUBG IP has maintained steady growth and sustainability, achieving an average annual growth rate of 20% in sales over the past five years. In the fourth quarter alone, KRAFTON reported sales of 617.6 billion KRW and operating profit of 215.5 billion KRW, reflecting YoY increases of 15.5% and 31.1%.
Major Achievements in 2024
One of the most notable achievements for KRAFTON in 2024 was surpassing the 1 trillion KRW mark in operating profit for the first time since its founding. After transitioning PUBG: BATTLEGROUNDS to a free-to-play model, the game reached a record-high count of Peak Concurrent Users (PCU) at 890,000 in 2024. This strong upward trend in traffic, coupled with successful IP collaborations, drove annual PC/Console sales to nearly 1 trillion KRW. The mobile platform also saw significant growth, with BATTLEGROUNDS MOBILE INDIA (BGMI) achieving its highest-ever sales, contributing to a 35.7% YoY increase in mobile sales.
Business Strategy for 2025
Looking ahead, KRAFTON plans to make significant investments in production to secure a "Big Franchise IP." Building on the expansion of the PUBG IP Franchise and its "Scale-up the Creative" strategy, the company has announced its mid- to long-term goal of achieving 7 trillion KRW in total revenue and doubling its corporate value within the next five years through a stepwise growth approach.
Driven by the PUBG IP, KRAFTON aims to deliver diverse content and services across the franchise for all fans to enjoy. The company will enhance collaborations, maps, modes, and other core content for an elevated user experience. Additionally, new games based on the PUBG IP will be released to establish a stronger presence across global markets and platforms. KRAFTON's key strategic lineup includes inZOI, DARK AND DARKER MOBILE, Subnautica 2, and Dinkum Together.
Innovation and AI Integration
KRAFTON has also unveiled its ambition to boost future innovation in the global gaming industry through AI. Collaborating closely with NVIDIA and OpenAI, KRAFTON aims to enhance its AI capabilities, such as CPC (Co-Playable Character) technology, to introduce new gameplay experiences worldwide.
Focus on India
India remains one of KRAFTON's leading strategic markets. The company intends to leverage BGMI's solid presence and expand its user base with new large-scale content and region-targeted strategies. KRAFTON also plans to push long-term growth in India by increasing publishing efforts and exploring new business opportunities.
CEO CH Kim stated, “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,” adding, “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.”
KRAFTON's impressive financial performance in 2024 and its strategic vision for 2025 set the stage for continued growth and innovation in the global gaming industry. As the company embarks on this new chapter, gamers and industry observers alike eagerly anticipate the exciting developments that lie ahead.
