PUBG Mobile contributed to a record $1.2B mobile revenue year, with Malaysia's esports ecosystem reaching new highs.

KRAFTON's Record Financial Performance in 2024

KRAFTON Inc. posted total annual revenue of KRW 2.7 trillion ($1.9 billion) in fiscal year 2024, a 41.8% increase year-over-year, marking the highest revenue in the company's history. Operating income rose 54% to KRW 1.2 trillion ($811.9 million), surpassing KRW 1 trillion in a single year for the first time. Both figures were attributed to the sustained strength of the PUBG franchise across multiple platforms, according to the company's official financial filings.

Mobile continued as KRAFTON's most lucrative segment, generating KRW 1.7 trillion ($1.2 billion) in 2024—a 35.7% increase from KRW 1.2 trillion ($826 million) in 2023. The segment accounted for 62.4% of total company revenue. PC revenue followed at $648.3 million (34.1% share), while console contributed $30.5 million (1.6%). The company noted that PC revenue grew 61.3% year-over-year, driven by PUBG: BATTLEGROUNDS reaching a record 890,000 peak concurrent users on PC and console platforms.

Mobile Revenue ($M)Source: Orionmano Industries

Revenue Share (%)Source: Orionmano Industries

PUBG Mobile's Contribution to Malaysia Esports Ecosystem

KRAFTON's mobile revenue surge has directly bolstered Malaysia's esports landscape, with PUBG Mobile emerging as a key revenue driver in the market. Industry estimates indicate that KRAFTON's Malaysia esports ecosystem revenue from PUBG Mobile—including tournament licensing fees and in-game item sales linked to esports events—reached approximately $9.3 million in 2024. This represents a significant increase over prior-year levels, though the company has not disclosed specific country-level breakdowns in its public filings.

The Malaysia esports and gaming market is projected to grow steadily, with revenue from in-game purchases, advertising, and media rights contributing significantly to overall expansion, according to market research. Strategic brand partnerships and influencer engagements are increasing commercial traction in the market, creating a more robust ecosystem for mobile esports titles. PUBG Mobile's established competitive scene, including regional tournaments and grassroots events, has been a primary channel for monetization in Malaysia, generating revenue through tournament licensing agreements and event-tied cosmetic item sales.

Monetization and Engagement Strategies

KRAFTON's mobile monetization strategy relies on a diversified mix of in-game purchases, battle passes, cosmetic items, and limited-time collaborations. PUBG Mobile's paying users grew 5% year-over-year in 2024, supported by new themed modes and updates to the World of Wonder (WoW) user-generated content feature, according to KRAFTON's press materials. Battlegrounds Mobile India (BGMI) recorded its highest-ever sales, with a 27% increase in paying users, driven by India-exclusive skins, customized premium items, and partnerships with local brands.

Major collaborations with global brands drove strong in-game item sales. The November 2024 collaboration with luxury automaker Porsche delivered the strongest performance among all supercar collaborations in PUBG history, per the company. Microtransactions, including battle passes and cosmetic item bundles, remain core monetization mechanics within the esports ecosystem, enabling continuous revenue from active user bases while balancing player experience.

Looking ahead, KRAFTON's strategy to expand the PUBG IP franchise through new game releases—including inZOI, Dark and Darker Mobile, Subnautica 2, and Dinkum Together—along with continued live-service enhancements will likely sustain mobile revenue growth. The company has stated it will deliver double-digit growth for the PUBG IP Franchise in 2025-2026, supported by strong traffic and robust live service operations. This pipeline should further boost Malaysia's esports ecosystem via ongoing tournament licensing and in-game monetization opportunities, positioning PUBG Mobile as a sustained revenue anchor in Southeast Asia's largest mobile gaming markets.