Me2on Reports 94.4 Billion KRW in Revenue Last Year... Growth Expected from 'Games and Content'

KOSDAQ-listed comprehensive entertainment company Me2on Group announced its performance results for last year.

Me2on revealed on the 27th that it recorded sales of 94.4 billion KRW, operating profit of 12 billion KRW, and net profit of 5.1 billion KRW last year. During the same period, its subsidiary Ghost Studio achieved annual sales of 85.8 billion KRW, operating profit of 15.6 billion KRW, and net profit of 8.4 billion KRW.

The game sector, including social casino and casual games, posted sales of 74.1 billion KRW last year, accounting for 78.5% of total sales. Content sales were 12.3 billion KRW (13.1%), followed by entertainment at 7.9 billion KRW (8.4%).

Me2on Group plans to improve its performance this year through games and entertainment. In the gaming business, Me2on's social casino game ‘Jackpot Vegas’ is scheduled for release in the first half of the year. The globally web-based version of ‘Full Pot Hold'em’, which was fully revamped last year, will be launched in the second half, diversifying the platform.

Ghost Studio, which opened an early access version in the U.S. market last year, will introduce ‘Mergetopia’ to overseas markets in the second quarter. Mergetopia will enhance gameplay and competitiveness by reflecting feedback from U.S. users and will reorganize monetization elements.

The entertainment division, which actively entered the K-content business last year, will release the Netflix series ‘You Killed’ in the fourth quarter of this year. An increase in drama production revenue is expected. The production of season 2 of the Netflix series ‘Hounds’, which was a hit in 2023, has been confirmed.

In the webtoon sector, Bluepic, a subsidiary of Ghost Studio, is serializing ‘The Genius Swordsman of the Academy’ on Naver Webtoon, which is being serviced in nine overseas countries including the U.S., Japan, and France. This year, they plan to introduce a new lineup of fantasy, martial arts, and female-oriented genres that will captivate users.

Choi Won-seok, Vice President of Business Strategy at Me2on Group, said, "Last year, there was a temporary decline in performance due to unstable internal and external business conditions and recognition of impairment losses at subsidiaries." He added, "Since January this year, sales of the group’s cash cows, Me2on’s ‘Full House Casino’ and Ghost Studio’s ‘Classic Slots’ and ‘Tryfix’, have been increasing," and "Netflix drama production and new business sales will be reflected within the year."