Krafton makes record-breaking $1.9bn with mobile revenue up 35.7% in 2024

Krafton sales climbed by 41.8% year-over-year to a record ₩2.7 trillion ($1.9 billion) in the studio’s full 2024 fiscal year.

Operating income increased by 54% to ₩1.2 trillion ($811.9 million), surpassing ₩1 trillion ($688.3 million) in a single year for the first time.

Both figures were attributed to the success of the PUBG franchise, which has seen an average annual sales growth rate of 20% over the last five years, bolstered by PUBG Battlegrounds’ transition to a free-to-play model.

Reaching records

Krafton’s PUBG series achieved milestones across platforms in 2024, with its revenue on PC hitting its highest level since 2018 and Battlegrounds Mobile India on mobile reaching record sales figures. The latter also contributed to a 35.7% year-over-year rise in Krafton’s overall mobile revenue, which totalled almost ₩1.7 trillion ($1.2 billion) in 2024.

Its mobile segment earned ₩1.2 trillion ($826 million) in 2023.

Mobile has maintained its lead as Krafton’s most lucrative platform, having accounted for 62.4% of total revenue in 2024, although PC grew faster, up 61.3% to ₩941.9 billion ($648.3 million). Console sales contributed just ₩44.3 billion ($30.5 million) of total earnings.

Quarterly data

In the fourth quarter, Krafton’s sales climbed by 15.5% year-over-year to ₩617.6 billion ($425.1 million). Operating profit increased by 31.1% year-over-year to ₩215.5 billion ($148.3 million).

Both figures were down from Q3, however, which was a record-breaking quarter wherein revenue rose by 59.7% year-over-year due to the PUBG series.

"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," said Krafton CEO CH Kim.

"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’s mobile success may well broaden outside of the PUBG IP in 2025, as RPG Dark and Darker is still expected to launch later this year. The title soft launched in the US and Canada on February 4th.