WeMade Entertainment sees 94% revenue increase year-over-year, announces expansion plans
Korean mobile and online game developer WeMade Entertainment has announced its Q3 2013 financial results, highlighting the company’s growth in anticipation of a push into Western markets. Its Wind Runner game [pictured] has been downloaded over 30 million times in Japan and Korea, while the company’s catalog now sits at 27 products released in 20 months.
For Q3 2013, WeMade experienced 94 percent year-over-year revenue growth to $51 million (54.8 billion KRW), up from $26 million (28.2 billion KRW) in Q3 2012. While revenue from its online products remained steady, WeMade experienced tremendous growth on mobile, with $31 million (33.1 billion KRW) in mobile revenue for the quarter, compared to $2 million (2.6 billion KRW) in Q3 2012.
WeMade has announced its strategy to expand into China, North America and Europe, starting in the next few weeks and continuing throughout 2014. The developer’s goal is to create “one of the largest and most experienced mobile development teams,” and its on its way with its team of over 1,000 developers.
As part of its expansion into new markets, the developer has announced Moon Wolf will launch in closed beta testing in China in partnership with Tencent’s mobile platform. In addition, Wind Runner will be released worldwide on the Facebook mobile platform, bringing the game to users in North America and Europe.
“Our strategic decision to expand our mobile games offerings has given us strong third quarter results to the point where mobile revenue accounts for more than 60 percent of WeMade’s total revenue for the quarter,” said Won Il Sue, Executive Vice President of WeMade’s Global Business Division, in a statement. “The path we have taken to expand and become a global power in mobile gaming is reaping great rewards.”