Nexon's revenue grew by 20% in 2023

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Maple Story publisher Nexon has released its 2023 fiscal year earnings report; the firm posted record-breaking revenue, which grew by 19.7%.

The Numbers:

• Revenue: ¥423 billion ($2.8 billion), up 19.7% year-over-year
• Net income: ¥71 billion ($475 million), down 29% year-over-year

The Highlights:

Nexon's report said that despite some global economic uncertainty, it grew revenues by releasing new titles, updates for current games, and acquiring more content.

Nexon broke down its performance by highlighting its business operations across market segments.

Its PC online business revenue grew in Korea because of new Maple Story content updates. In China, consumer spending was driven by Dungeon Fighter and MapleStory: The Legends of Maple.

Nexon's Japan business segment saw its revenue increase from the performance of the title Blue Archive.

Meanwhile, the report notes that revenue increased year-on-year for North America and Europe due to the releases of Dave The Diver by MintRocket and Embark Studios' The Finals.

Looking ahead

The firm projects that it will generate revenue in Q1 ranging from ¥97 billion ($649 million) to ¥107 billion ($716 million). It also estimates that net income will hit in the range of ¥16.3 billion ($109 million) to ¥23 billion ($154 million).

Nexon also addressed sanctions the Korean Fair Trade Commission imposed on it last month for unfair trade practices in MapleStory, saying it had negatively impacted the game's community.

"To create a more enjoyable experience in MapleStory, Nexon discontinued sales of a major probability-based item and transitioned to a business model that offers the same experience, paid for with in-game currency rather than a cash transaction," the company said.

The firm estimates the sanctions will have a short-term effect on its revenue.

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