The South Korean studio Shift Up has released its financial results for the first quarter of 2025. Here's what the report reveals.
▫️Shift Up reported a net profit of 26.8 billion won ($18.9 million) for January-March 2025. This represents an 8.7% increase compared to early 2024.
▫️The developers' operating profit remained almost unchanged over the year, increasing by only 1.2% to 26.25 billion won ($18.5 million).
▫️Shift Up's revenue rose by 13%, amounting to 42.2 billion won ($29.7 million).
▫️Goddess of Victory: Nikke once again accounted for the majority of the revenue, generating 76.5% of the total, or 32.3 billion won ($22.7 million). However, its income declined by 11.4% compared to the first quarter of 2024.
▫️Royalties from Stellar Blade sales are steadily declining. In the previous quarter, which lasted from October to December 2024, the game brought the studio 19.6 billion won ($13.8 million), but now it is almost three times less—7 billion won ($4.9 million).
▫️Overall, from April 26, 2024, to March 31, 2025, Stellar Blade generated 75 billion won ($52.8 million) in royalties for Shift Up.
▫️As of late March 2025, Shift Up had 326 employees, a 10.1% increase from the previous year.