Solo Leveling: Arise Base Effect, Netmarble Q2 Revenue Drops 8%
나혼렙: 어라이즈 역기저효과, 넷마블 2분기 매출 8% ↓
2025.08.07 17:49 UTC+9
AI Summary
Netmarble reported a Q2 revenue dip to 717.6 billion KRW due to base effects. Despite this, operating profit saw a significant 103.4% rise quarter-on-quarter. CEO Kim Byung-gyu remains optimistic about global expansion for the second half.

Netmarble has officially unveiled its financial results for the second quarter of 2025.
On the 7th, Netmarble announced its Q2 2025 performance. The firm posted consolidated revenue of 717.6 billion KRW, marking an 8.2% drop compared to the same period last year. Operating profit landed at 101.1 billion KRW, with a net profit of 160.2 billion KRW—declines of 9.1% and 1.3% respectively, year-on-year. For the first half of 2025, cumulative revenue reached 1.3415 trillion KRW, while operating profit hit 150.8 billion KRW, representing a 1.9% dip in revenue but a 31.2% surge in operating profit compared to the previous year.
The second quarter revenue was bolstered by the full-quarter contribution of RF Online Next and the successful launch of Seven Knights Re:BIRTH. These titles helped push revenue up 15% and operating profit up 103.4% quarter-on-quarter. However, when measured against last year, the figures appear softer—largely due to the base effect of the record-breaking launch of 'Solo Leveling: Arise' back in May 2024.


Looking at the regional split, North America leads at 35%, followed by Korea at 34%, Europe at 12%, Southeast Asia at 7%, Japan at 6%, and others at 6%. Notably, the share of revenue from the Korean market grew by about 10 percentage points year-on-year, thanks to the recent releases. By genre, RPGs continue to dominate at 42%, followed by casual games at 33%, MMORPGs at 18%, and others at 7%.
Meanwhile, Netmarble’s operating expenses for Q2 2025 dropped by 8.1% year-on-year, totaling 616.5 billion KRW. Commission fees took the biggest slice at 242.4 billion KRW, while labour costs and marketing spend stood at 174.9 billion KRW and 135.4 billion KRW respectively. Commission fees saw a 7.8% decrease, reflecting the base effect, while both labour and marketing costs were trimmed by 4.3% and 5.8% respectively, as Netmarble focused on operational efficiency.

Netmarble CEO Kim Byung-gyu noted, "The consecutive successes of RF Online Next and Seven Knights Re:BIRTH in the first half, combined with the leverage effect from our improved cost structure, have led to balanced growth in both scale and profitability." The CEO added, "We are committed to driving even greater growth in the second half through new releases and global launches."

넷마블이 2025년 2분기 실적을 발표했다.
넷마블은 7일, 2025년 2분기 경영 실적을 발표했다. 넷마블의 연결기준 매출은 7,176억 원으로 전년 동기 대비 8.2% 감소했다. 영업이익은 1,011억 원, 당기순이익은 1,602억 원으로 전년 동기 대비 각각 9.1%, 1.3% 하락했다. 2025년 상반기 누적 매출은 1조 3,415억 원, 영업이익 1,508억 원으로 전년 동기 대비 1.9% 감소, 31.2% 증가했다.
2분기 매출에는 RF 온라인 넥스트 실적 온기 반영과 세븐나이츠 리버스의 출시 성과가 영향을 끼쳤다. 이에 전 분기 대비 매출은 15%, 영업익은 103.4% 상승했다. 다만, 지난해 5월 출시된 '나 혼자만 레벨업: 어라이즈’의 역대 최대 매출에 따른 기저효과 제거로 인해 매출과 영업익 모두 전년 동기 대비 감소한 모습을 보였다.


세부 국가별 매출 비중은 북미 35%, 한국 34%, 유럽 12%, 동남아 7%, 일본 6%, 기타 6% 순으로, 신작이 출시된 한국 시장 매출이 전년 동기 대비 약 10%p 상승했다. 장르별 매출 비중은 RPG가 42%로 가장 높은 비율을 차지했으며, 캐주얼 게임 33%, MMORPG 18%, 기타 7% 순이다.
한편, 넷마블의 2025년 2분기 영업비용은 전년 동기 대비 8.1% 감소한 6,165억 원을 기록했다. 이 중 가장 큰 비중을 차지한 지급수수료는 2,424억 원, 인건비와 마케팅비가 각각 1,749억 원, 1,354억 원을 기록했다. 지급수수료의 경우 역기저효과가 반영된 결과 전년 동기 대비 7.8% 감소했다. 인건비와 마케팅비는 비용 효율화를 통해 각각 4.3%, 5.8% 감소했다.

넷마블 김병규 대표는 “상반기에 출시한 RF 온라인 넥스트와 세븐나이츠 리버스의 연이은 흥행과 비용 구조 개선에 따른 레버리지 효과가 본격화되며 외형과 수익성이 동반 성장하는 모습을 보였다”라며, “하반기는 신작 효과 및 글로벌 출시 게임을 통해 상반기 대비 더 성장할 수 있도록 노력할 것”이라고 밝혔다.
This news was translated by AI.
I am dedicated to games and writing. viina@gamemeca.com
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