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Nexon experiences great year as it generates $2.8 billion in 2020

"Nexon looks forward to multiple catalysts in 2021, including new games, on new platforms, coming to new markets"

Nexon experiences great year as it generates $2.8 billion in 2020

Nexon experienced a strong year in 2020 as the company generated ¥293 billion ($2.8 billion) in revenue.

The impressive figure represents a growth of 18 per cent year-on-year. Moreover, Nexon's Korea operations grew 84 per cent year-on-year, accounting for 56 per cent of total income.

Meanwhile, its operating income for 2020 sat at ¥111.5 billion ($1.1 billion), which is an increase of 18 per cent year-over-year.

However, at ¥56.2 billion ($537 million), net income saw a decline of 51 per cent year-on-year.

On the mobile front, Nexon's library saw a 60 per cent increase in revenue year-on-year. Titles such as KartRider Rush+, FIFA Mobile and MapleStory M have been credited as a driving force for growth.

Fourth-quarter

Furthermore, in Q4 2020, mobile games accounted for 41 per cent of Nexon's earnings.

Overall, the company generated ¥66.4 billion ($635 million) in Q4, an increase of 35 per cent year-on-year. Meanwhile, operating income hit ¥15.6 billion ($149 million).

"Nexon's fourth quarter marked a strong finish to a great year," said Nexon CEO and president Owen Mahoney.

"The continued outstanding performance of our blockbuster Virtual Worlds serves to validate our belief that this genre of games has a unique ability to grow revenue over the course of decades after the initial launch.

"In 2020, MapleStory, which originally launched in 2003, grew an incredible 98 per cent year-over-year in our biggest market, Korea."

Mahoney continued: "Nexon looks forward to multiple catalysts in 2021, including new games, on new platforms, coming to new markets.

"While we expect variation in near-term revenue growth, the drivers for long-term growth are stronger than ever."


Staff Writer

Kayleigh is the Staff Writer for PocketGamer.biz. Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.

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