LOS ANGELES – MAY 20, 2021 –Netmarble Corp., global publisher of leading mobile games for players of all ages, has announced earnings for the first quarter of 2021, reporting $512.2 million in revenue, $48.7 million in operating profit, and $55.6 million in net profit, all up year-over-year from 2020 figures. Overseas sales also expanded steadily to reach $361.3 million, accounting for 71% of total global sales.
“The sales in the first quarter were relatively sluggish due to the lack of new titles following the successful launch of Seven Knights 2 in the fourth quarter of 2020. In addition, the rise in labor costs in the overall Korean game industry led to a downside in profits,” said Seungwon Lee, CEO of Netmarble, adding “however, major live games such as the Seven Deadly Sins: Grand Cross, Marvel Contest of Champions, and Lineage 2: Revolution recorded stable results. As Ni no Kuni: Cross Worlds and new high-fidelity titles with renowned IPs, including Marvel, Seven Knights, and BTS are planned to be launched in the second quarter and the second half, significant sales growth and profits improvement are expected.”
Highlights from Netmarble’s Q1 2021 financial results include:
- Revenues were diversified across North America (36%), Korea (29%), Europe (12%), Japan (9%), SEA (9%), and other territories (5%).
- Top performing titles from the first quarter included original and partner games: The Seven Deadly Sins: Grand Cross (15% of the revenue earned), MARVEL Contest of Champions (12%; Kabam),Seven Knights 2 (11%), Lineage 2: Revolution (8%), Blade & Soul Revolution (6%), Harry Potter Hogwarts Mystery (5%; Jam City), and A3: STILL ALIVE (5%), Cookie Jam (4%; Jam City), and MARVEL Future Fight (3%). Additional games from Netmarble contributed to 31% of revenue earned.
- Revenue breakdown by genre demonstrated diversification across RPGs (34%), MMORPGs (30%), casual games (26%), and other games (10%).
A breakdown of the total financial earnings is as follows:
|1/1/21-3/31/21 actuals||YoY Changes||QoQ Changes|
|Total Sales||$512.2 million||+7.0%||-8.6%|
|Operating Profit||$48.7 million||+165.7%||-34.3%|
|Net Profit||$55.6 million||+7.7%||-39.8%|
For further details on Netmarble’s quarterly performance, visit the company’s investor relations page to learn more.
About Netmarble Corporation
Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade & Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and HYBE (formerly Big Hit Entertainment), Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com.