Cyprus-based Nexters sees $1.5 billion in revenue from flagship mobile game

Nexters, an international game development company headquartered in Cyprus, has seen its flagship mobile game, Hero Wars: Alliance, generate $1.5 billion in revenue and surpass 150 million installations, according to an official announcement.

In its announcement, the company said that “we are proud to announce that our hit mobile battler, ‘Hero Wars: Alliance’ has also ranked fourth in the Worldwide Top Free RPG Games and sits in the Top 20 Grossing RPG Games Worldwide, according to AppMagic rankings”.

Moreover, the company acknowledged various industry peers and media outlets, including Mobidictum, PocketGamer.com, Game World Observer, GamesPress, and others for recognising these achievements.

Since its launch in 2017, ‘Hero Wars: Alliance’ has continued to captivate players, the company mentioned. The game recently celebrated a major milestone by hosting its first collaboration with Crystal Dynamics, integrating the iconic video game character Lara Croft from Tomb Raider in a limited-time event.

The game itself offers a rich, tactical RPG experience with a unique cartoon aesthetic. Players follow the adventures of the valiant knight Galahad as he strives to free his world from the clutches of the evil Archdemon.

Furthermore, the gameplay involves recruiting new characters, levelling up, and mastering their powers to overcome waves of fantasy battles and engaging in treasure-hunting mini-games.

Despite rapid changes in the gaming industry, Hero Wars: Alliance continues to perform well, significantly contributing to Nexters’ financial health. Last year, the mobile version, Alliance, and its web counterpart, Dominion Era, together accounted for 89 per cent of the company’s total revenue.

Meanwhile, GDEV reported $465 million in revenue for 2023, marking a slight decrease of 3 per cent year-over-year. However, the company’s profit surged by a massive 557 per cent to reach $46 million.

On a regional level, the United States is at the forefront, contributing 39 per cent of the game’s in-app revenue.

This is followed by Japan at 15 per cent, Germany at 8 per cent, Russia at 6 per cent, and Taiwan at 4 per cent, reflecting the game’s widespread appeal across diverse markets.

Finally, it should be noted that following a rebranding to GDEV in June 2023, after rejoining the Nasdaq stock exchange, Nexters has expanded its portfolio to include other gaming studios.