Krafton revenue 2021 to 2025 growth funds a two-track M&A strategy for new franchise IPs
Summary
Krafton posted record KRW 3.3 trillion ($2.26B) revenue in 2025, up 22.8% YoY.
Operating profit hit KRW 1.05 trillion ($720.4M), funding a disclosed two-track acquisition strategy.
Fiscal report separates large-scale M&A for immediate returns from small-to-mid deals targeting high-growth IPs.
"Krafton will explore large-scale M&A opportunities targeted at generating immediate financial performance, while also pursuing small-to mid-scale M&A transactions to boost value by securing IPs with high growth potential"
01
PUBG drove record revenue but two new IPs crossed 1M sales each
Mobile led at KRW 1.7 trillion; PC contributed KRW 1.2 trillion; console trailed at KRW 42.8 billion.
PUBG: Battlegrounds hit its highest-ever annual PC revenue, up 16% YoY.
inZOI and Mimesis each surpassed 1M sales since 2025 launches.
Two new IPs crossing 1M validates Krafton's franchise-building thesis beyond PUBG.
02
Fiscal report discloses two distinct M&A mandates plus a publishing channel
Large-scale M&A targets established studios or IPs for "immediate financial performance."
Small-to-mid deals aim to secure "IPs with high growth potential" at earlier stages.
Second-party publishing targets teams with "projects nearing release or demonstrated development capabilities."
Three parallel capital channels give BD teams different entry points depending on studio maturity.
03
15 first-party projects span survival, life sim, and open-world across PC and mobile
Krafton is developing 15 new projects with newly recruited creative leadership and small-scale elite teams.
Named pipeline includes Subnautica 2, Palworld Mobile, Dinkum Together, and NO LAW.
Genre spread across these titles maps the white spaces Krafton's M&A will likely reinforce.
PUBG will evolve into a "gameplay platform" via Unreal Engine 5 and UGC support.
Events
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Locations
South Korea
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