Just three years ago, Netmarble was the sort of outfit that raked in the cash but struggled to keep any of it. The glaring issue? A severe lack of original IP. Between the standard app store levies—which eat into revenue like clockwork—and the royalties paid out for third-party properties, their operational costs were ballooning. It was a rough patch, indeed, with the company stuck in a seven-quarter losing streak from 2022 through the third quarter of 2023.

But look at them now; Netmarble has performed quite the turnaround. Since pivoting back to profitability in the fourth quarter of 2023, they have maintained that momentum throughout 2024, consistently hitting operating profit margins between 8% and 14.1% during 2025. In the first quarter of this year, they managed an operating profit of 53.1 billion KRW, securing an operating margin of 8.1%. The secret to this fiscal glow-up? Obsessive cost efficiency. They have put the magnifying glass on commission fees, which historically gobbled up the largest chunk of their operating budget.

The linchpin of this strategy is, unsurprisingly, betting on their own IP. Following the 2024 launch of Raven 2, the company saw growth driven by titles like Seven Knights Re:BIRTH, Vampir, and RF Online Next in 2025. By moving away from external royalties, they haven't just boosted sales; they've secured a path to significantly healthier margins. To achieve this, Netmarble has been busy breathing new life into old favourites like Seven Knights while aggressively acquiring properties like the RF Online IP.

The numbers tell the tale: back in 2021 and 2022, commission fees often accounted for over 40% of Netmarble’s revenue. By 2024, that figure dipped into the mid-30s, and they have held steady between 31.6% and 35.1% throughout 2025. Even in the first quarter of this year, they maintained a lean 30.8%. Ultimately, this pivot to 'proprietary IP' is more than just a creative choice; it is a cold, calculated survival strategy to mitigate the inevitable squeeze of app store fees.

Netmarble shows no signs of slowing down, having already launched titles like StoneAge Idle and Monster Arena: Star Dive this March. With more original projects in the pipeline for the latter half of this year and beyond, it seems the reach of Netmarble’s own IP is set to expand even further.