NCSOFT, which is experiencing poor performance and restructuring, is finding an opportunity to rebound with the smooth sailing of the new game 'Journey of Monarch' based on the Lineage IP (intellectual property). However, excessive reliance on the Lineage IP remains a challenge that still needs to be addressed.
◇ Stable establishment in the top 10 of Google Play sales
According to Google Play on the 16th, Journey of Monarch, launched on the 4th, climbed to 5th place in domestic game sales rankings within a week and is currently maintaining 6th place. The game garnered attention by taking first place in Google Play's popular games ranking on the day of its release and entered the sales ranking at 7th place on the fifth day.
According to the app statistics analysis platform Mobile Index, the average playtime per user increased from 154 hours on the day of release to 211 hours as of the 13th. This indicates that the game provides a high level of immersion for users, encouraging continuous participation.
Journey of Monarch is an idle RPG (role-playing game) based on the Lineage IP, distinguishing itself by attempting a casual approach away from existing MMORPGs (massively multiplayer online role-playing games). It emphasizes free growth without real-time competition and highlights the fun of character collection and development.
According to NCSOFT, the enhancement system, which has established itself as a key element in the existing Lineage series, adopts a method where items are not destroyed even if a failure occurs, reducing the burden on users. Additionally, it has been designed to enhance popularity by allowing users to play freely in the field without forcing PVP (player versus player).
Rather than explosive ranking increases at the beginning, a gradual increase in revenue is expected based on a stable user base, which the company explains is largely achievable due to the high loyalty of the Lineage IP fan base. Currently, four NCSOFT games based on the Lineage IP are positioned in the top 10 of domestic Google Play game sector sales.
◇ This year's new releases fail, deepening reliance on Lineage IP
Recently, NCSOFT has consecutively failed in new releases outside of the Lineage IP. The casual game 'Battle Crush' and the strategy game 'Ho Yeon' launched this year also did not fare well. Battle Crush ended its service just five months after release. This result has been analyzed as a reason why NCSOFT has no choice but to stick to a business model centered on the Lineage IP.
However, the dependence on the Lineage IP can only be a long-term risk for NCSOFT. While the Lineage IP is certainly a strong revenue source, its excessive reliance is deteriorating the company's growth potential.
In the securities sector, evaluations of the performance of Journey of Monarch have been mixed. Samsung Securities noted, 'While the strategy targeting existing Lineage IP users has achieved some success, there are disappointments in securing new users.'
When compared to the expectation of 8 million pre-registrations, the download numbers and initial reactions did not meet expectations, which has been assessed as a negative factor.
NCSOFT is currently undergoing internal changes, including a large-scale organizational restructuring with voluntary retirement programs and transitions to independent development studio systems. An NCSOFT official said, 'The headquarters will focus on the Lineage IP, and various new game developments will be carried out in the spun-off independent studios.'