In 2022 and 2023, the global gaming industry was dominated by pessimism. The post-pandemic decline in player engagement and spending drastically impacted the market, leading to a significant downturn. As a result, major gaming companies faced financial challenges, resulting in cost-cutting measures and widespread layoffs.
However, by mid-2024, there are signs of recovery in the gaming sector. Companies like Nexon and Netmarble have reported record-breaking revenues, largely driven by successful game titles like “DNF Mobile” and “Solo Leveling.” Notably, Krafton, powered by its “PUBG” franchise, saw a nearly 50% increase in revenue compared to the previous year.

Krafton’s impressive performance, particularly in the mobile gaming sector with “PUBG Mobile,” highlights the growing importance of mobile gaming in the industry. The company is now focused on expanding “PUBG” into a $10 billion IP, alongside diversifying its portfolio with new acquisitions and projects, such as the recently acquired “Hi-Fi Rush” IP.

Despite these success stories, the gaming industry still faces significant challenges. Smaller companies and independent games are struggling in an increasingly competitive market, where only flagship products with high revenue potential can thrive. As a result, major companies are shifting their focus towards large-scale projects and platform ecosystems to ensure sustainable growth.