Global game publisher Neorigin announced on the 13th that as the business performance of its major games in service has entered a steady phase, it plans to restructure its business focusing on ‘mobile games’ and ‘short-form content’ and accelerate growth. To this end, Neorigin recently wound down its relatively low-profit general trade business between Korea and China.
Since 2021, Neorigin has been steadily pursuing related businesses to launch excellent IP (intellectual property)-based ‘global long-run games’ in the market. As of August this year, Neorigin has launched a total of five games in the global market, including its flagship title ‘Goddess War (Yeosin Jeonjaeng)’, and all games are considered to have entered a stable phase.
In particular, Goddess War has been in service for over four years and still generates about $1 million (approximately 1.3 billion KRW) in monthly revenue. Following Goddess War, ‘Apex Girl (Yeoljeon Sonyeo)’, which was first launched in Japan in March this year, recently surpassed $1.2 million in monthly sales.
Additionally, various mobile games based on the popular Asian IP ‘LUNA’, such as ‘LUNA Reverse’, ‘Jeonggukgu: Law of Power’, and ‘Dark Brides’, generate an average monthly revenue of about $800,000. Recently, ‘LUNA Adventure Diary’, based on the in-house LUNA IP, obtained a Chinese publishing license, laying the foundation for additional revenue generation.
A Neorigin official stated, “We have tried various businesses to fill the inevitable revenue gaps and strengthen our fundamentals during the successful market settlement of our games. Since this year, not only has the game business started to show results, but it has also entered a stable phase, so we decided to boldly streamline non-core businesses.”
He added, “However, the short-form content business is structurally similar to the mobile game business and has high growth potential, so we plan to nurture it as a mid- to long-term growth engine. We will focus our publishing know-how and marketing capabilities accumulated in the game business to lead the related market.”
Neorigin launched Korea’s first short-form drama-exclusive platform ‘Top Reels’ through its subsidiary ‘Fox Media’ in March. Top Reels ranked first on the App Store upon release, and Fox Media plans to target the global market based on the influence of K-content, which has high recognition overseas.
Meanwhile, according to global market research firm Statista, the global short-form market size is estimated to reach about $40 billion (approximately 55 trillion KRW) this year, and it is expected to grow at an average annual rate of about 60% over the next five years.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
