The Black Label and its Investors Soar on APT.’s Success, with the company's valuation reaching an all-time high of 1 trillion Won. ROSÉ Drives Record Profit Projections as Some Age Hits Upper Limit for 3 Straight Days
Korean game developer Some Age (208640) has seen its stock hit the upper price limit for three consecutive trading days, closing on November 18, 2024, with a 29.8% rise to 513 KRW. The surge is tied to the global success of Apartment (APT.), a collaboration between BLACKPINK’s Rosé and Bruno Mars, and optimistic forecasts for the company’s future performance.
In 2021, Some Age invested 2 billion KRW (~20 million KRW) in The Black Label, Rosé’s agency. Initially valued at 150 billion KRW, The Black Label has now surpassed a valuation of 1 trillion KRW, with investment returns projected to exceed 20 billion KRW (~200 million KRW). The hit song APT. has become a global phenomenon, topping Spotify’s U.S. chart, leading iTunes charts Initially in 40 countries, and achieving a record-breaking 300 million YouTube views within 22 days.
Beyond its music-driven gains, Some Age reported a 48% year-on-year increase in operating revenue for Q3 2024, reaching 11.825 billion KRW. This growth stems from stable revenues from key titles like Dekaron M and Boxing Star, alongside the growing global popularity of its RPG, God Raid. The company is also branching into blockchain markets to enhance its revenue streams.
A company representative highlighted the combined impact of APT.’s success and the company’s expanding gaming portfolio on its long-term growth potential. Some Age remains committed to advancing mobile game development and strategic marketing efforts to ensure steady revenue and sustainable business expansion.
