Observed Signal · Nov 13, 2026 · Earnings Report · Source: GamesIndustry.biz · Impact: 2/5 · Sentiment: Positive
MapleStory drives Nexon Q3 revenue up 17%
Nexon reported strong third-quarter results, with total revenue of ¥138.4 billion ($865.4 million), up 17% year-on-year, and operating income of ¥41.8 billion ($261.3 million), up 11%. The growth was driven primarily by its MapleStory franchise, whose revenue surged 72% to a quarterly record, and by FC Online royalties. However, Dungeon & Fighter revenue declined 33% due to weaker-than-expected updates in China. The company highlighted the success of Arc Raiders (17 million copies sold) and announced a new RPG, Project Overkill, developed by Neople and published by Tencent. Six projects were discontinued as part of its transformation initiative, and AI integration is accelerating across development. CEO Junghun Lee emphasized the success of its IP expansion strategy in diversifying revenue.
Nexon's Q3 earnings report indicates strong growth in its MapleStory franchise and overall revenue, but the decline in Dungeon & Fighter and the discontinuation of six projects temper overall industry impact. While not directly adtech, it provides insights into gaming sector performance.
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Key Takeaways & Evidence Grounding
- Nexon Q3 revenue was ¥138.4 billion ($865.4 million), up 17% year-on-year.
- MapleStory franchise revenue grew 72% year-over-year, setting a new quarterly record.
- Dungeon & Fighter revenue declined 33% due to weaker-than-expected results in China.
- Arc Raiders sold over 17 million copies; new RPG Project Overkill announced, developed by Neople and published by Tencent.
- Six projects discontinued as part of Nexon's transformation initiative.
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South Korea Game Market Insights 2026: Mobile IAP Revenue Nears $5 Billion as Korean Game Publishers Expand Across Platforms and Borders
Sensor Tower's South Korea Game Market Insights 2026 report reveals that South Korea's mobile gaming market is shifting from volume-driven growth to value-driven monetization, with downloads falling 28% from 2021 to 2026 (from ~540 million to ~390 million) while IAP revenue remained near $5 billion and revenue per download hit a record high. Overseas markets now account for 92% of global downloads and 49% of IAP revenue, with publishers like Nexon, 111%, and Supercent growing overseas revenue by 78%, 82%, and 97% respectively in Q1–Q3 2026. The report highlights cross-platform expansion, with Nexon's North America and Europe revenue up 170% YoY in Q2 2026, and ARC Raiders generating over $620 million in premium sales in its first year. Case studies include MapleStory: Idle RPG, which surpassed $100 million in global IAP revenue within two months and reached $430 million by its 11th month, and CookieRun: Crumble, which generated over $23 million in Q3 2026.
Netmarble posts $505.1M revenue in Q2 2026
Netmarble reported $505.1 million in revenue for Q2 2026, a 4% year‑over‑year and 15% quarter‑over‑quarter increase driven by existing titles and new launches such as The Seven Deadly Sins: Origin and SOL: Enchant. Net profit was $137.4 million, up 27% Y/Y, while operating profit fell 21% to $54 million. EBITDA totaled $75.5 million (down 15% Y/Y and 34% Q/Q) with an EBITDA margin near 15%. North America accounted for 39% of revenue, Korea 22% and Europe 13%. RPGs made up 42% of revenue, casual games 35%, MMORPGs 17% and other genres 6%. Netmarble said three new cross‑platform titles are planned for H2 2026, and CEO Kim Byung‑gyu emphasised multi‑platform expansion and strengthening live operations to stabilise earnings.
Krafton Q3 revenue rises 11.6% despite PC and console decline
South Korean game publisher Krafton reported Q3 2026 revenue of ₩971.4 billion ($725.9 million), up 11.6% year-on-year, despite a 32.5% decline in PC revenue and a 15.9% drop in console revenue. Mobile revenue grew 3.2% to ₩504.3 billion. Operating profit fell 35.5% to ₩225 billion ($168.1 million), attributed to Gamescom participation and other costs. For the first nine months, revenue rose 51% to ₩3.6 trillion and operating profit increased 14% to ₩1.1 trillion, both all-time highs. PUBG IP revenue grew 11%, and PUBG: Battlegrounds maintained double-digit MAU growth. Krafton is advancing its AI-first strategy, previewing its in-house LLM Raon-1 and planning to expand AI capabilities in gaming and future business areas.
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