Line Releases Its Financial Figures

One of the most popular mobile messaging app Line has revealed its latest Financial figures which claims to have received 53% of the revenue from In-Game purchases.

Recently Line was spun off as a subsidiary of NHN (KRX:035420) in Q1 this year that means they would be releasing their quarterly financial updates on the app’s progress.Q2 2013 figures reveal that Line at presently has over 200 million registered users which show that the free service brought in a staggering JPY 9.77 billion ($100.7 million) in revenue.

53 percent is the figure that includes in game purchases whereas 27 percent is the figure that includes sticker pack purchases, official accounts, and sponsored/branded stickers that contribute to the revenue which has boosted from 66.9% over the last quarter from $3.1 million in Q2 in 2012.

Line now accounts for 76 % of the revenue at the spin off, Line Corporation out of the total revenue for Q2 this year hit JPY 12.8 billion. The CEO of Line Corp, Akira Moriwaka seems to be pretty optimistic and determined as he reported at press that the company targets to get 300 million users within 2013. That is possible only if the company achieves success at the global platform competing against Whatspp, Facebook Messenger, and other Asia-made Apps like WeChat.

Line has lot of monetization channels in mind other than social gaming and unique stickers/emoticons as the social messaging app seeks to become a broad social platform. It has already begun with trials of e-books and manga publishing and launched a news app last month as the company aims to transfer NHN’s web portal model to the smartphone age.

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