Krafton Achieves Record Sales and Operating Profit in 2024
– 2 min read
Krafton reports record profits with 20% annual sales growth over the last five years. The company has set itself a medium- to long-term goal of doubling corporate value over the next five years through a structured growth strategy, AI and a big franchise IP.
In its consolidated financial statements prepared in accordance with Korean International Financial Reporting Standards, Krafton reported sales of €1.9 billion (2.7098T KRW) and an operating profit (OP) of €790 million (1.1825T KRW), marking new all-time highs. These figures represent year-on-year growth of 41.8% in revenues and 54.0% in OP, driven by the PUBG IP, resulting in an average annual sales growth rate of 20% over the past five years.
The transition of PUBG: Battlegrounds to a free-to-play model continued to drive growth, with the game reaching 890,000 peak concurrent users across PC and console. This growth, combined with successful IP collaborations with various brands, drove PC/console revenues to €668 million (1T KRW). On mobile, Krafton continued to expand its global reach, including emerging markets. Battlegrounds Mobile India (BGMI) recorded its highest sales ever, contributing to a 35.7% year-on-year increase in mobile revenues.
CEO CH Kim: "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. 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 plans to make "significant investments" in securing a "Big Franchise IP" in line with its "Scale-up the Creative" strategy and the continued expansion of the PUBG IP. The company has set a mid- to long-term goal of achieving 7T KRW (~€4.7 billion) in revenue and doubling corporate value within the next five years through a structured growth strategy.
The companies strategic portfolio includes inZoi, Dark and Darker Mobile, Subnautica 2 and Dinkum Together. On 28 March 2025, Krafton plans to release the life simulation InZoi in Early Access, initially on PC, to compete with EA's The Sims. Subnautica 2 is also scheduled for release this year (Early Access). India remains a key strategic market, with plans to strengthen BGMI's presence through major content updates and region-specific strategies. Krafton also plans to drive long-term growth in India by increasing publishing efforts and exploring new business opportunities. Beyond gaming, Krafton also unveiled its ambition to drive future innovation in the industry through the use of AI.
Headquartered in South Korea and founded in 2007, Krafton is home to developers including PUBG Studios, Striking Distance Studios, Unknown Worlds, Vector North, Neon Giant, Krafton Montréal Studio, Bluehole Studio, RisingWings, 5minlab, Dreamotion, ReLU Games, Flyway Games, Tango Gameworks and inZOI Studio.
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