Monster Hunter Now powers surge in Capcom's mobile revenue
Capcom's Latest Financial Report Shows Strong Recovery and Mobile Expansion Plans
Capcom has just unveiled its latest financial report, shedding light on the company's performance during the first half of the 2023/2024 fiscal year.
During this period, Capcom raked in a hefty ¥74.9 billion ($500 million), marking a robust 42.7% increase compared to the same period in 2022 when they earned ¥49.1 billion ($328 million). This remarkable growth signifies a promising rebound for the company, especially as the gaming industry adjusted to the post-pandemic era after the unprecedented COVID-19 boom, which disrupted the market dynamics.
In addition to its revenue surge, Capcom's operating income also witnessed a substantial uptick, reaching ¥33.8 billion ($226 million) in the first half of 2023/2024, a remarkable 54.5% increase from ¥21.9 billion ($146 million) in the corresponding period last year.
While Capcom's overall performance is impressive, it's worth noting that the mobile gaming sector still represents a relatively small segment of their business, contributing just ¥1.5 billion ($10 million) over the past three months. However, the release of Monster Hunter Now in September has been a game-changer. With over five million downloads worldwide, the game swiftly generated $31.4 million in revenue by October 11. This success positions it as a strong contender in the lucrative Chinese geolocation gaming market, poised to challenge Pokémon Go's dominance.
Looking ahead, Capcom anticipates a steady performance from its mobile division, projecting ¥2.9 million ($19.4 million) in revenue by the end of the fiscal year.
In recent news, Capcom grabbed attention by announcing plans to bring the critically acclaimed Resident Evil 4 Remake to mobile platforms. Notably, this mobile version comes with a substantial $60 price tag, mirroring the pricing of its console and PC counterparts. This move is quite unconventional in the mobile gaming landscape, offering a console-quality gaming experience for a similar cost. While the success of this strategy remains uncertain, it underscores Capcom's confidence in their ability to deliver high-quality content and underscores their belief in the revenue potential of their mobile gaming division.
Furthermore, Capcom has set its sights on India, making mobile gaming a central focus of its expansion plans. With ambitions to outperform its performance in the Chinese market within the next decade, the company is poised for more exciting developments in the mobile gaming industry.
Source: adapted article of Lewis Rees, Staff Writer for PocketGamer biz