Gamevil achieves record overseas revenue, plans acquisitions

Gamevil achieves record overseas revenue, plans acquisitions

13 AUG 2013

South Korean mobile game developer and publisher Gamevil reported record overseas revenue in the second quarter of 2013, and stated that its future strategy will include “aggressive acquisitions”.

The company reported Q2 sales of KRW11.3 billion ($10.2 million) for its operations outside of South Korea, a 70 per cent year-on-year increase. Wholly-owned subsidiary Gamevil China also achieved record sales.

Looking to the future, Gamevil said “aggressive acquisitions, investments, and partnerships” will form part of its strategy while a range of new titles should help it continue with its global expansion.

The games maker has seen steady revenue growth in North America, Asia, Europe and South America and has expanded its user base via the Gamevil Circle cross promotion network. It has now seen more than 300 million game downloads.

The company is looking to expand its presence in China through publishing relationships with Tencent and Qihoo 360. It also plans to improve social network integration through Facebook, KakaoTalk and LINE.

Gamevil’s total revenue for the period was up 35 per cent year-on-year at KRW20.5 billion, generating a net profit of KRW4.0 billion.

However, increased third party royalty payments and marketing expenses to support the company’s expanding user base around the world saw operating profit decline 26 per cent on the previous quarter.

Author

Tim Ferguson

Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter... More

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