Source: sung ji on  
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출처 : THE ELEC, Korea Electronics Industry Media(http://www.thelec.net)  


NCSoft's annual revenue target of 2.5 trillion won ($1.8 billion) for 2026 is increasingly within reach, supported by strong performance from mobile titles, Aion 2 and its acquired German unit.  
  
Brokerages estimate the company's annual revenue at between 2.3 trillion won and 2.5 trillion won, reflecting stable user retention from the seasonal system introduced in Aion 2, solid earnings from Lineage Classic, and contributions from German game company JustPlay. The projection aligns with the 2.5 trillion won target set earlier this year by Co-CEO Park Byung-moo.  
  
Lee Chang-young, an analyst at Yuanta Securities, said Aion 2 has largely maintained early-stage traffic levels of around 1.5 million daily active users. He estimated first-quarter revenue, including deferred sales, at about 135 billion won.  
  
Lee added that stable traffic is sustaining membership revenue, which accounts for 30–40% of total sales, while item sales such as growth packages and costumes remain steady. He highlighted the planned global launch in the fourth quarter as a key growth driver for 2026.  
  
**Aion 2 Annual Revenue Seen at 600–700 Billion Won**  
  
NCSoft rolled out a Season 3 update for Aion 2 on April 8, focusing on lowering entry barriers through new PvE content and enhanced character progression benefits. The company also removed high-fatigue raid content and eased pet progression requirements, restructuring the overall gameplay environment.  
  
Additional features include adjusted event cycles, instant completion tickets, inheritance crafting and preset systems for certain content. From Season 3, rankings for some content have been shifted to class-based systems, and rewards have been redesigned toward honor-based items rather than direct power upgrades.  
  
The seasonal model, commonly used in global titles such as Diablo and League of Legends, resets progression each season to narrow the gap between veteran and new players while controlling content consumption through periodic updates.  
  
Season passes also provide monetization opportunities. While NCSoft maintains that the seasonal system has not yet delivered measurable results, brokerages take a more optimistic view.  
  
Lee Joon-ho, an analyst at Hana Securities, estimated first-quarter revenue for Aion 2 at 130.5 billion won, with daily revenue of about 1.5 billion won. Hana Securities projects annual global revenue exceeding 600 billion won, while Kiwoom Securities estimates around 702 billion won.  
  
**Lineage Classic, JustPlay Add to Earnings Momentum**  
  
Lineage Classic has sustained its popularity beyond initial launch hype, securing a top-two position in PC café rankings. Annual revenue estimates have been revised upward from around 100 billion won to between 200 billion and 220 billion won.  
  
Samsung Securities expects the title to generate more than 200 billion won in revenue this year even after normalization, while Hana Securities raised its forecast to 221.9 billion won.  
  
JustPlay, acquired by NCSoft, is also expected to contribute significantly. The company reported 248 billion won in revenue last year, with 70% generated in North America. NCSoft estimates JustPlay's first-quarter revenue at 96.7 billion won and projects full-year 2026 revenue at 482 billion won.

Combined, Aion 2 is expected to generate over 600 billion won, Lineage Classic about 200 billion won, and JustPlay roughly 480 billion won. NCSoft's total revenue in 2025 was 1.5069 trillion won, implying combined contributions exceeding 2.7 trillion won—above the company's 2026 target.  
  
Additional upside may come from new releases, including Time Takers in the second quarter, Breakers: Unlock the World and Aion 2 global launch in the third quarter, and Cinder City in the fourth quarter.  
  
Lee Chang-young of Yuanta Securities noted that consensus operating profit for 2026 has been revised upward by 9.3% over the past three months to 376 billion won from 344 billion won.  
  
He said that while negative sentiment toward NCSoft had prevailed, the sustained success of Aion 2, stronger-than-expected performance from Lineage Classic and structural improvements through M&A are shifting market perceptions.  
  
Industry observers say that, barring major disruptions in the rollout of seasonal updates and upcoming titles, the company is well positioned to achieve its stated revenue target.  
  


NCSoft 2026 Revenue Target of 2.5 Trillion Won Comes Into View