Krafton has announced its full-year 2024 financial results, reporting record-breaking annual revenue alongside ambitious growth plans for Battlegrounds Mobile India (BGMI). The South Korean gaming giant achieved massive success this year while highlighting India as a crucial market for future expansion.
According to the company's financial report, Krafton generated a total annual revenue of 2.7 trillion KRW in 2024 (161 billion Indian Rupees), marking an impressive 41.8% year-over-year growth. This record performance was largely driven by the continued success of the PUBG IP, which has maintained an average annual sales growth rate of 20% over the past five years.
Battlegrounds Mobile India played a significant role in these results, achieving its highest sales figures to date. The game's strong performance helped boost Krafton's mobile sales by 35.7% compared to the previous year. This success contributed to the company exceeding its annual operating profit target of 1 trillion KRW.
"India is one of the key strategic markets for Krafton," the company stated in its report, emphasizing its commitment to the region. The publisher outlined specific plans to expand BGMI's user base through regular updates, locally tailored strategies, and increased publishing of high-potential games in the Indian market.
The company's focus on India extends beyond just maintaining BGMI's current success. Krafton explicitly mentioned its intention to "explore new opportunities and invest more in the region," indicating a broader strategy. This commitment is evident in its investment in the IMM venture fund to support local startups. A recent example includes Krafton's $53 million investment in Cashfree, an Indian fintech startup.
Additionally, the company is investing in local gaming enterprises through its incubator program, the KIGI program, which recently concluded its first cohort and is planning for a second. Last year, Krafton pledged to invest $150 million in the Indian ecosystem over the next three years.
Looking ahead to 2025, Krafton has several new titles in development, including Dark and Darker Mobile, which could potentially expand the company's footprint in mobile gaming markets like India. Other upcoming releases include inZOI, Subnautica 2, and Dinkum Together.
The financial results and strategic focus on India suggest that BGMI players can expect continued support and new content as Krafton looks to build on its record-breaking year.
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