MMO Business Roundup: Nexon, Roblox, and EA’s latest financials

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In November 2018, Nexon announced that it would be spinning off its esports division to form a new company called NEXEN. This spin-off was the first instance of an established gaming company ditching its current business and creating a separate section under which all future work will take place.
Nexon made this move largely as they saw their market share shrinking globally with the rise of mobile games like Clash Royale or Fortnite. In response, Roblox introduced “Robux”, virtual currency for use in online multiplayer games available through both third party websites and apps on smartphones and tablets. Lastly, EA released financials showing their yearly revenue had dropped by almost 20%. Experts believe these moves are necessary due to changes in gamer habits from playing more mobile based titles instead of traditional PC/Console/Handheld game types.,

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Welcome back to another compilation of MMO and MMO-related business and industry news, this time focusing only on financial reports.

Roblox

Roblox’s sales figures have been scrutinized since the business went public in November of 2020, partly because it continued to disclose running at massive net losses, all while developing a reputation for abusing children. Given how difficult the same quarter last year was, it’s maybe not unexpected that sales grew by 39% to $537 million in Q1 2022. According to GIbiz, the corporation had 54.1 million daily active users within the same time period.

Nexon

Nexon turned in its Q1 2022 report card as well, claiming a slight (3%) revenue increase over Q1 2021 with ¥91B ($710M US). The company attributes its success to Dungeon & Fighter Mobile in Korea and the “recovery” of the MapleStory userbase in Korea. “Nexon is a loaded spring,” CEO Owen Mahoney said. “Continuous improvements in our existing portfolio, compounded with new revenue from big launches in 2022 and 2023 will dramatically change our trajectory and drive growth in 2022 and beyond.” For the west, that largely amounts to DNF Duel, Blue Archive, and a focus on MapleStory M.

Electronic Arts is a video game publisher.

EA’s most recent financial report includes fiscal Q4 2021 and the whole fiscal year 2022, the latter of which shows net bookings of $7.515 billion, up 21% from fiscal 2021. EA is also up for the quarter (according to EA’s accounting, fiscal Q4 2021 corresponds to the first three months of 2022). Apex Legends is singled out for strong engagement, as is the FIFA series, which EA recently announced was ending this week as the two companies parted ways. For the unsuccessful Battlefield 2042, the studio claims it’s “rethinking the development approach from the bottom up.” It also has four unnamed titles in the works for fiscal Q4 2023.

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