Ragnarok X : Next Genration Received a ISBN Code by Chinese Government
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The acquisition of an ISBN code by Gravity Co., Ltd. for Ragnarok X: Next Generation in China represents a significant milestone for the company's expansion strategy. This development signals the game's forthcoming entry into one of the world's largest gaming markets, which is subjected to stringent regulatory oversight. The Chinese gaming market is known for its high barriers to entry, primarily due to government regulations which include a quota on the number of foreign games allowed and the requirement of an ISBN code for monetization. The approval of a second ISBN code for a game under the Ragnarok IP in 2023 indicates a growing acceptance and potential demand for Gravity's offerings in the region.
Historically, China's gaming industry has been a lucrative market for successful entrants, with Newzoo's Global Games Market Report citing China as a major contributor to the global games market revenue. Gravity's previous success in Taiwan, Hong Kong, Macau and Southeast Asian markets, where Ragnarok X: Next Generation ranked first in top-grossing charts, provides a positive outlook for its performance in China. However, competition is fierce and local player preferences can differ significantly from other regions. Gravity's strategic approach to localization and understanding of regional gaming habits will be crucial in capturing market share and sustaining the game's revenue-generating potential.
Gravity's announcement of securing an ISBN code for their game in China is likely to have a favorable impact on their financial performance. The potential increase in market size and consumer base could translate into significant revenue growth. Given the game's historical performance, where it achieved top-grossing status in various markets and amassed over 23 million downloads, the expansion into China could amplify these results. Investors will be monitoring the game's adoption rate and revenue figures closely following its launch in the Chinese market.
It is important to note that the Chinese gaming market operates under a different monetization model, with a preference for free-to-play games that rely on in-game purchases. Gravity's experience in similar markets should serve them well, but the company will need to navigate China's unique gaming ecosystem effectively. Moreover, the timing of the launch and the marketing strategy employed will be critical in capturing the interest of Chinese gamers amidst a crowded market. The long-term financial outlook will depend on the game's ability to retain players and sustain revenue through in-game transactions and updates.
Gravity's entry into the Chinese market with an ISBN code for Ragnarok X: Next Generation is not just a regulatory compliance achievement but also a cultural milestone. The Ragnarok franchise has cultural cachet in Asia and its adaptation to Chinese tastes will be key to its success. The company's understanding of cultural nuances and player behavior in China will be instrumental in tailoring the game's content and engagement strategies, which could greatly influence its uptake and longevity in the market.
Chinese gamers have distinct preferences, often leaning towards community and competitive play, which should be considered in the game's design and features. The social aspects of gaming, such as in-game chat and guild systems, are particularly important in the Chinese market. Gravity's previous experience in Asia should inform their strategy, but they will need to remain agile and responsive to feedback to maintain relevance in the fast-paced Chinese gaming industry. The company's ability to localize and integrate culturally resonant elements without compromising the core gameplay that made Ragnarok successful will be a determining factor in their success.
Seoul, Jan. 03, 2024 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games, today announced that Ragnarok X: Next Generation received a ISBN Code by Chinese government disclosed on December 22, 2023.
This is the second ISBN code with Ragnarok IP approved by Chinese government in 2023
Ragnarok X: Next Generation has continued its outstanding performances since its launching in Taiwan, Hong Kong and Macau in 2020. The game ranked the first in top-grossing in both markets, Google Play and Apple App Store in Taiwan and Hong Kong and Macau after its launching. Also, it ranked the first in top-grossing in Apple App Store in Thailand, Indonesia and Philippines since its launching in Southeast Asia in 2021. The cumulative download number of the game has been reached over 23 million.
Gravity said that “We are very excited to introduce Ragnarok X: Next Generation to Chinese uses, which recorded mega hit in each launching markets. We will try our best to provide successful services in Chinese market.”
About GRAVITY Co., Ltd. ---------------------------------------------------
Gravity is a developer and publisher of online and mobile games. Gravity’s principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.
Contact:
Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.kr
Ms. Jin Lee
IR Manager
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800
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