China Revenue Expectations Rise
Netmarble posted a loss in Q1, but decided to make a breakthrough by entering the Chinese market with a two-pronged strategy. Five of the 14 games Netmarble plans to release this year will be in the Chinese market, including five games that have been awarded service licenses by the Chinese government, Neolithic, Seven Deadly Sins, A3: Steel Alive, and The Second Country. Netmarble said it will thoroughly localize the games considering the "sensitivity" of the Chinese market and expects good results. Netmarble will also be releasing new games such as Grand Cross W and God Tower starting in June. Other highly anticipated titles such as Knights of the Round Table, Level Up Alone: Arise, and Asdal Chronicles will be released later this year.
Domestic-focused launches
Netmarble will launch God Tower and Grand Cross W in June, followed by Knights of the Round Table in Q3 and Level Up Alone: Arise, Asdal Chronicles, and Seven Knights Finger (tentative title) in Q4. Given the "sensitivity" of the upcoming games, Netmarble said it will thoroughly localize them. Meanwhile, metaverse real estate game Everyone's Marvel 2: Metaworld, which launched in April, will be released in Korea and Japan later this year, with marketing for the U.S. market to follow.
Plans to improve deficit
Netmarble posted operating expenses of 630.8 billion won, down 11.3 percent year on year, in its Q1 earnings report on Nov. 11. Despite higher localization costs, with labor accounting for 31.1 percent and commission costs accounting for 41 percent, the company reported a 1.9 percent year-on-year decrease. The company also reported annualized revenue of 602.6 billion won, down 4.6%. Netmarble said it will try to improve its losses by launching new games and expanding into the Chinese market.
Translation:
Netmarble posted a loss in Q1, but decided to make a breakthrough by entering the Chinese market with a two-pronged strategy. In addition, Netmarble has been awarded a service license by the Chinese government for five games, including Neo-Riddick Age, Seven Deadly Sins, A.I.: Still Alive, and The Second Country.
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