Pearl Abyss is projected to achieve record revenue of around 300 billion won in the first quarter of this year, driven by the rapid success of its newly launched game, 'Crimson Desert,' which debuted globally in March.
According to analysts on May 10, Pearl Abyss is expected to announce its Q1 results on May 12, reporting revenue of 311.9 billion won, operating profit of 143.5 billion won, and net profit of 110.4 billion won. This represents a 272% increase compared to 83.7 billion won during the same period last year. The previous record for Q1 revenue was set in 2019, influenced by the launch of 'Black Desert Mobile' in Japan and 'Black Desert' on Xbox One in North America and Europe, which generated 130.8 billion won.
The surge in performance is attributed to the global success of 'Crimson Desert.' This open-world action-adventure game was released on PC and console platforms, attracting users with its vast open world and high degree of freedom, positioning it as a key intellectual property (IP) following Pearl Abyss's flagship title, 'Black Desert.'
'Crimson Desert' garnered significant market interest even during its development. Initially, its release was scheduled for an earlier date, but delays occurred due to worsening development conditions amid the prolonged COVID-19 pandemic and remote work.
After approximately seven years of development and multiple postponements, the successful launch of 'Crimson Desert' has heightened expectations for a rebound in Pearl Abyss's performance.
Sales have been increasing rapidly. 'Crimson Desert' sold 2 million copies on its first day, followed by 3 million copies within four days, 4 million copies in 12 days, and surpassed 5 million copies in global cumulative sales within 26 days. This rapid sales pace is considered exceptional for a console and PC packaged game developed by a domestic game company.
The strong initial performance has further bolstered revenue expectations. Typically, new game sales begin to decline after 2 to 4 months as discounts are introduced. However, 'Crimson Desert' achieved over 5 million copies sold within the first month of release, and there are currently no plans for discounts, reducing concerns about declining average sales prices.
User feedback and updates are enhancing expectations for the game's long-term success. The initial reception of 'Crimson Desert' was not entirely positive; it received a Metacritic score of 78 shortly after launch, falling short of expectations due to criticisms regarding difficult controls and user interface (UI) and user experience (UX) issues.
However, as updates were implemented and user playtime accumulated, the sentiment shifted. The Metacritic user score rose to 8.7, while Steam user ratings improved from 64 to 80. PlayStation users also increased their ratings from 3.6 to 4.1. As of May 8, user reviews on the global gaming platform Steam remain 'very positive.'
Since its launch, Pearl Abyss has conducted a total of seven updates, enhancing content quality and addressing initial criticisms regarding UI and controls. The latest patch on May 1 was a significant update, totaling 37 gigabytes.
Analysts are also raising their annual sales forecasts for 'Crimson Desert.' Meritz Securities estimates cumulative sales of 8.5 million copies in Q2, while DS Investment Securities has revised its annual sales forecast upward from 6 million to 8 million copies.
However, as packaged games typically see a higher proportion of sales in the early stages, maintaining sales momentum after Q2 will be closely monitored. Future sales may be influenced by the timing of discount sales and the success of additional updates.
Pearl Abyss aims to develop 'Crimson Desert' into a flagship IP, and it is expected that user feedback and updates will continue for the foreseeable future. Pearl Abyss CEO Heo Jin-young stated during the regular shareholders' meeting in March that the company will strive to upgrade 'Crimson Desert' based on user feedback to ensure it becomes a long-lasting favorite.
* This article has been translated by AI.
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