NCSoft’s PC Games Face Challenges as Lineage Mobile Outperforms Their Entire PC Portfolio in Revenue Generation

There is no denying that NCSoft has been facing issues with declining performance in recent times. After a high point in 2022, post-COVID, the revenues have been dropping. The revenue for 2024 even fell below the 2017 level, with the company’s stock price declining by 71% in the last five years.

However, the switch from primarily PC gaming to mobile gaming seemingly helped in boosting revenues, but profitability was affected due to huge platform fees payable to Apple and Google. The older MMOs from NCSoft – Lineage and Lineage 2 – were free from these fees as they gained popularity before the rise of platforms like Steam.

The shift from higher-profit PC games to lower-profit mobile games saw a temporary surge in profits due to the significant increase in revenue. As for mobile MMORPGs, they have shown shorter longevity. On the other hand, games like World of Warcraft, RuneScape, and Eve Online have maintained their profitability for decades, with mobile MMORPGs becoming irrelevant after merely half a decade.

The downfall of PC games at NCSoft has been rapid. Currently, one mobile game alone, Lineage M, brings in more revenue than all of NCSoft’s PC games combined.

This shift in favor of mobile gaming was even more pronounced in the past. For example, Lineage W in 2022 made almost thrice the revenue of all their PC games put together. However, the revenues from Lineage W have since seen a drastic decline.

Despite a promising start, the user base of NCSoft’s Throne and Liberty saw a steep decline soon after the launch.

NCSoft has not had any significant successes since the mobile releases of Lineage 1 and 2. It is hoped that Aion 2, scheduled to launch in the later half of 2025, could turn things around. However, given NCSoft’s recent track record, that may not be a safe bet.