Shift Up 2024 Financial Results

Shift Up achieved record financial performance in 2024, marking its first full-year report following its public listing. The company reported total revenue of ₩219.8 billion ($151.4 million), representing a 30.4% increase over the previous year. Operating profit rose by 33.8% to ₩148.58 billion ($102.3 million), while net profit reached ₩142.6 billion ($98.2 million), a 33.7% year-over-year growth.

The studio’s primary revenue driver remains the mobile title Goddess of Victory: Nikke, which contributed ₩153 billion ($105.4 million), accounting for nearly 70% of total revenue despite a 7% decline compared to 2023. Conversely, the console title Stellar Blade emerged as a significant financial contributor, generating ₩62.8 billion ($43.2 million) in royalties. The company attributes the sustained performance of its portfolio to active live-service updates and strategic collaborations.

Looking ahead, Shift Up is focused on expanding its market reach and development capacity. Plans for 2025 include the official launch of Goddess of Victory: Nikke in China and the release of a PC version of Stellar Blade, which the company anticipates will outperform the console version in Asian markets. Additionally, the studio is developing a new project, Project Witches, with a projected launch after 2027. To support these initiatives, the company intends to increase its workforce from 322 employees to between 400 and 420 by the end of 2025.