A $20 Billion Company's Future Hinges on The New PUBG
The game formerly known as PlayerUnknown's Battlegrounds accounts for 97% of the revenue of its maker Krafton. Given that the Seoul-based company is valued at almost $20 billion, we have a rough estimate for how much this single game is worth, according to the stock market. A good chunk of that value is in the potential that title holds for expansion. From a report: Krafton has staked its future on making PUBG -- no longer an abbreviation but a brand for a wider intellectual property franchise -- into a big fantasy universe spanning different games and entertainment genres. The first big test of this strategy is PUBG: New State, the mobile sequel that moves the battle royale action to 2051 and adds more advanced weaponry, vehicles and graphics. It arrives on Nov. 11. I haven't played it to be able to tell you how good it will be, but I would be hugely surprised if it turns into anything other than another money printer for Krafton. The reason for my confidence is simple: The company isn't straying too far from what made the original 2017 game a hit and is mostly changing the cosmetics atop the underlying physics and gameplay. This approach has proven highly successful in the mobile arena. The smartphone game is launching in more than 200 countries and in 17 different languages and has already had more than 50 million preregistrations. Another essential element for mobile success that Krafton taps into is making the game free to play. The vast majority of smartphone app store revenue comes from games, which seems counterintuitive considering that most of those games demand no upfront payment. The real money, however, is in enticing players to make microtransactions within the game, such as personalizing your character with "skins" or buying a pet or better weapons. This is such a big deal that Epic Games took Apple and Alphabet's Google to court over the split of who gets to profit from those addictive little in-game buys in PUBG rival Fortnite.
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