KRAFTON Inc., the powerhouse behind the globally acclaimed PUBG franchise, has shattered its financial records in the third quarter of 2024. In a recent investor relations briefing, the company unveiled its highest-ever quarterly earnings, driven by strategic innovations and a robust portfolio expansion.
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KRAFTON’s Record-Breaking Q3 2024: PUBG Powers Unprecedented Growth
Unprecedented Financial Milestones
The gaming gaint reported a staggering 719.3 billion KRW in sales and an operating profit of 324.4 billion KRW for Q3 2024. These figures represent a remarkable year-on-year increase of 59.7% in sales and 71.4% in operating profit. Cumulatively, the company’s sales have soared to 2.922 trillion KRW, marking a historic achievement since its inception.
PUBG: The Engine of Growth
According to DK Bae, KRAFTON’s CFO, the PUBG: BATTLEGROUNDS IP continues to be a significant growth driver. The game has seen substantial increases in both sales and user traffic, thanks to innovative updates and collaborations. Notably, the Lamborghini collaboration and the introduction of new game modes have set new records for concurrent users and sales.
Expanding Horizons with New Titles
KRAFTON is not resting on its laurels. The company is actively pursuing a “Scale-Up the Creative” strategy, focusing on discovering and developing original game IPs. Upcoming titles like inZOI, Dark and Darker Mobile, and Subnautica 2 are already generating buzz, with inZOI introducing groundbreaking AI features that promise to revolutionize gameplay.
Strategic Investments and Global Expansion
In Q3 2024, KRAFTON made five strategic investments to secure new IPs and expand its publishing capabilities. The acquisition of the Palworld IP for mobile development is a testament to KRAFTON’s commitment to diversifying its offerings. Additionally, the company is strengthening its presence in India with localized content for Battlegrounds Mobile India and plans to release a localized version of Cookie Run.
Pioneering AI Innovations
KRAFTON’s dedication to AI research is paving the way for future gaming experiences. The company has established a Deep Learning Division to develop cutting-edge AI technologies. This year, KRAFTON introduced a 3D printer feature in inZOI, a first in the gaming industry, and is working on Co-Playable Characters (CPCs) that promise to enhance player interaction in a human-like manner.
Conclusion
The Korean giant’s record-breaking performance in Q3 2024 underscores its strategic vision and innovative prowess. With a strong focus on expanding its game portfolio, leveraging AI technologies, and enhancing user experiences, KRAFTON is poised to continue its upward trajectory in the global gaming industry. As the company rolls out new titles and features, it remains a formidable force, setting new benchmarks for success.
