Nexon Sees 20% Revenue Surge in 2023

Nexon, the publisher behind Maple Story, has unveiled its financial report for the 2023 fiscal year, revealing a record-breaking revenue increase of 19.7%. Key highlights include: - Revenue: ¥423 billion ($2.8 billion), marking a 19.7% year-over-year increase - Net income: ¥71 billion ($475 million), down 29% year-over-year Despite global economic uncertainty, Nexon achieved revenue growth through strategic releases of new titles, updates to existing games, and content acquisitions. A breakdown of Nexon's performance across market segments shows that its PC online business in Korea saw growth due to new Maple Story content updates. In China, Dungeon Fighter and MapleStory: The Legends of Maple drove consumer spending. The Japan business segment experienced revenue growth thanks to the performance of Blue Archive. Meanwhile, revenue increased year-over-year in North America and Europe, driven by the releases of Dave The Diver by MintRocket and Embark Studios' The Finals. Looking ahead, Nexon projects Q1 revenue to range from ¥97 billion ($649 million) to ¥107 billion ($716 million), with estimated net income between ¥16.3 billion ($109 million) and ¥23 billion ($154 million). The company also addressed recent sanctions imposed by the Korean Fair Trade Commission for unfair trade practices in MapleStory, stating that the sanctions negatively impacted the game's community. In response, Nexon has discontinued sales of a major probability-based item and transitioned to a business model offering the same experience, paid for with in-game currency rather than cash transactions. The firm anticipates the sanctions will have a short-term effect on its revenue.