It is the time of the year when publicly listed companies around the world post their financial numbers for the 3rd quarter of 2018, and game companies are no exception. While most big Korean game companies are posting record profits, Wemade Entertainment managed to post a massive loss. Remember, this is the company which holds the IP for Silkroad Online, and recently launched Icarus M after breaking its contract with Netmarble.
For the 3rd quarter of 2018, Wemade Entertainment posted a net loss of around 6.6 million USD, even though it has a 15% increase in revenue compared to the previous quarter. Wemade Entertainment was never strong in publishing, and admitted Icarus M did not perform up to expectations. I sincerely think that the management over estimated their abilities and hence decided to break its contact with Netmarble. A really stupid decision.
Wemade Entertainment will now focus on finding a China partner for Icarus M, as well as preparing to launch the game in Taiwan and Japan under its local subsidiaries. New titles such as Mir 4 and Mir M (mobile game based on Mir 2) are under internal development, while a strategy game based on the Mir IP is being worked on by partner studio NDREAM. Nothing was announced for the future of the popular Silkroad Online, which is puzzling.