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Subculture Games in Korea: Successes, Failures, and Future Outlook
Myoungwon Kim
September 26, 2024
What are Subculture Games?
Subculture games are titles that target a niche audience or a specific fandom rather than aiming for a broad, mainstream market. These games attract a devoted fanbase that tends to deeply immerse themselves in the game’s characters and world. This immersion often results in a unique spending pattern, where players are willing to invest significantly in the game to enhance their experience.
The genre itself often draws inspiration from Japanese anime, manga, and game culture, making it particularly appealing to younger generations. Recently, this genre has rapidly grown in Korea’s mobile game market and has also garnered attention in the global gaming scene.
SHIFTUP and Nexon’s Bright Future
Among Korean game companies, SHIFTUP and Nexon have notably succeeded in the subculture genre. SHIFTUP’s Goddess of Victory: NIKKE has achieved global success, captivating players worldwide with stunning graphics and compelling storytelling. SHIFTUP has further solidified its global presence through collaborations with Tencent, launching games in a global one-build” strategy where most of its revenue now comes from international markets.
This success has also translated into a rising stock price for SHIFTUP. Mirae Asset Securities recently raised its target price, recognizing the company’s promising growth potential.
Meanwhile, Nexon’s Blue Archive has proven the commercial viability of subculture games. Within just three years of its launch, Blue Archive generated cumulative sales of approximately 670 billion won, showing that subculture games are no longer just niche but have become mainstream. Nexon’s success highlights the potential of subculture games to achieve widespread and commercial success.
Other titles like Nexon’s The First Descendant and SHIFTUP’s Stellar Blade have also gained traction by leveraging the appeal of specific characters. Despite mixed reviews regarding gameplay, these games have attracted a loyal ‘core user base’ willing to spend on characters, ensuring commercial success.