Increased Interest in the Console Segment
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed.
At G-Star 2022, we witnessed a clear increase in interest towards the console segment as well as market expansion for cross-play.
Game market is changing
With the majority of Korean game companies in attendance, G-Star 2022 (Nov 17~20) saw demonstrations for a number of new titles. Among these, Krafton’s Callisto Protocol and Neowiz’s Lies of P enjoyed the most attention.
1) New lineups
– Krafton unveiled Callisto Protocol (set to be released on Dec 2), showing off the game’s high-quality graphics and hard-core horror genre aspects.
– Neowiz is newly entering the console market through Lies of P. Featuring challenging and immersive gameplay, the title should appeal to the global console market. Thus far, the gamer response has been favorable, boosting expectations for sales after launch.
– Kakao Games demonstrated Ares: Rise of Guardians, Goddess Order, and Eversoul. A range of new titles are anticipated from the firm in 2023.
– Netmarble showed off Paragon: The Overprime (MOBA; to launch early access in December), Arthdal Chronicles (MMORPG), and Solo Leveling: ARISE (Action RPG). Backed by expected success for its new lineups, Netmarble should see a turnaround in 2023.
– Nexon unveiled Mabinogi M and The First Descendant. Of note, the recently-released DAVE The Diver and KartRider Drift have been popular on Steam.
2) Expanding to console market; global market becoming more important
– A number of new titles (eg, Krafton’s Callisto Protocol, Neowiz’s Lies of P, and Nexon’s The First Descendant) are set to be released for consoles. We expect such efforts to result in sales growth in the global market.
3) Cross-play is now essential
– Cross-play (eg, mobile/PC, console/PC) is now a requirement for most game companies. Amid a revitalization of the cross-play market, Korean developers with strengths in PC games are expected to expand their influence on a push to greater enter the console market.