The new financial report from publisher NCsoft is here. The gaming company also shows how some of the popular MMORPGs are doing, and Guild Wars 2 stands out particularly.
How is Guild Wars 2 doing? The new financial report from NCsoft has provided revenue figures for the current and the previous 4 quarters. The revenues of the long-standing MMORPG mainstay Guild Wars 2 are declining, and this is not just a one-time occurrence but over several quarters.
- Q1 2024: around 16.2 million euros in revenue
- Q2 2024: slight losses to around 15 million euros
- Q3 2024: significant decline to 12.15 million euros
- Q4 2024: temporary recovery to 15.8 million euros
- Q1 2025: another drop to 12.3 million euros
In total, this means: Guild Wars 2 has lost about 24.1% of its revenue within a year. Even though the MMORPG was able to recover briefly over the winter period, this effect seems to have already faded again in 2025.
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Only Blade & Soul Shows Growth
What about the other MMORPGs from NCsoft? The NCsoft portfolio consists of several well-known MMORPGs. However, a look at the other titles reveals a similar picture as with Guild Wars 2:
- Lineage remains the highest-grossing game, but loses 8% compared to the previous year.
- Lineage 2 drops by 18.7%.
- The hardest hit is Aion, which loses a hefty 40.4% of its revenue compared to the previous year’s quarter.
The only exception: Blade & Soul. The MMORPG apparently benefits from the successful launch of Blade & Soul: Neo, the remake that has launched both in Korea and the West.
While the PC market for NCsoft shrinks by 8.9%, the Mobile segment looks even gloomier. Here, the company reports a revenue decline of 17.3% since Q1 2024. Particularly bitter: The mobile sector is more than twice the size of the PC business, making it crucial for the overall situation of the company. The most important region remains far and away South Korea, as seen with the upcoming releases.
What’s next for NCsoft? The example of Blade & Soul shows that NCsoft needs new titles to regain strength, and several new ones are set to be released soon. With Chrono Odyssey and Project Q, two new MMORPGs are ready that are expected to launch in Korea later this year.
The online action RPG for PC and console “ArcheAge Chronicles” will follow in the first half of 2026, and Aion 2 is expected to be released in Korea in 2025, although it is unclear whether this refers to Project Q.
The current situation at NCsoft appears tense, but with the upcoming releases, the company will soon be able to make a move. The popular MMORPG Throne and Liberty is no longer mentioned in the report. This has also been the case in the past: The MMORPG company behind Throne and Liberty and Guild Wars 2 slips into crisis, making losses
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