SHIFT UP continues the financial grind with Stella Blade heading to its 1st anniversary

Shift Up, the South Korean game developer behind Stellar Blade and Goddess of Victory: Nikke, has reported record-breaking revenue and operating profit for the year 2024. The company’s financial success can be attributed to the strong performance of these two titles, which have captured the attention of gamers worldwide.

Stellar Blade, an action-adventure game set in a post-apocalyptic world, was released on PlayStation 5 on April 26, 2024. The game follows the protagonist, Eve, as she embarks on a mission to reclaim Earth from monstrous creatures known as Naytibas. Stellar Blade has been praised for its stunning visuals and engaging combat mechanics, which emphasize precise timing and strategic parrying.

In 2024, Stellar Blade generated $43 million in royalties for Shift Up, thanks to constant updates, collaborations (such as the Nier: Automata DLC), and a dedicated player base. The game’s success on PlayStation 5 has paved the way for a highly anticipated PC release in 2025, which is expected to further boost its revenue.

Meanwhile, Goddess of Victory: Nikke is an immersive sci-fi RPG shooter that has taken the mobile gaming market by storm. Released on Android and iOS in 2022 and later on Windows in 2023, the game features a gacha system and a variety of unique characters with distinct combat specialties5. Players command a squad of Nikkes, humanoid weapons created to reclaim Earth from the Rapture invasion.

In 2024, Goddess of Victory: Nikke generated $105.4 million in revenue, accounting for 69.6% of Shift Up’s total revenue. Despite fierce competition in the mobile gaming market, the game managed to retain its player base through regular events, collaborations, and updates1. Shift Up also plans to officially launch the game in China in 2025, with pre-registrations already meeting expectations.

Shift Up’s total revenue for 2024 reached $151.4 million, a 30.4% increase from the previous year. The company’s operating profit was $102.3 million, up 33.8% year-over-year, while net profit grew 33.7% to $98.2 million. These impressive financial results mark a record year for Shift Up in terms of revenue and operating income1.

Looking ahead, Shift Up plans to expand its workforce to 400-420 employees by the end of 2025. The company is also working on a new game titled Project Witches, which is expected to launch after 2027. Additionally, Shift Up will continue to support and update Stellar Blade and Goddess of Victory: Nikke, ensuring that both games remain popular among players.

Shift Up’s success in 2024 is a testament to the company’s innovative game design and ability to engage players with captivating content. With Stellar Blade and Goddess of Victory: Nikke leading the charge, Shift Up is well-positioned to continue its growth and dominance in the gaming industry.