Com2uS Holdings扩大Steam多平台游戏发行，但Q2营收同比下滑43%、在线人数极低，Ares全球上线为唯一潜在催化

Com2uS Holdings is increasing its supply of PC and console games, mainly through Steam, in the second half of the year. With revenue from its game business declining in the second quarter, attention is turning to whether an expanded lineup of multiplatform titles can drive a recovery in performance.
Com2uS Holdings recently launched "Zenonia 1: Thread of Memories" on Steam on Aug. 31. The game is a remake of the original title released for feature phones in 2008, redesigned for the PC environment. Com2uS Holdings retained the original's pixel graphics and core elements while improving the user interface (UI) and convenience features. According to SteamDB, the game has recorded a peak concurrent player count of about 1,000 since its release.
The company previously released "Fatal Claw," a new title developed by NDEV Games, on Aug. 26. The game has recorded a peak concurrent player count of 515 since its release, about 8.3 times the level during its early-access period. Com2uS Holdings also released "Fading Echo" on Steam and the Epic Games Store on Aug. 21.
The expansion of the company's PC and console lineup comes as it seeks to restore its game-business performance. Com2uS Holdings posted consolidated revenue of 15.6 billion won and an operating loss of 5.3 billion won in the second quarter. Revenue fell 43% from a year earlier, while the operating loss widened. Operating revenue on a standalone basis, which reflects the performance of the game business, was 6 billion won, down 57% from a year earlier and 53% from the previous quarter.
Com2uS Holdings is reorganizing its game business around four areas in the second half. It plans to secure stable revenue from live services for idle role-playing games (RPGs), while expanding massively multiplayer online role-playing games (MMORPGs) and action titles globally across multiple platforms. It also plans to increase daily active users (DAUs) through new collectible RPGs and puzzle and casual games.
In particular, Com2uS Holdings is focusing on expanding its supply of new global multiplatform titles. The company has been rolling out new games including the collectible RPG "Star Sailors" and deduction puzzle game "ColorSweeper," followed by Zenonia 1 and Fatal Claw.
Ares MMORPG Set for Release This Month
One of the company's key new titles for the second half is "Ares: The Iron Vanguard," or Ares, which is preparing for a global release this month. Developed by Second Dive, Ares is an MMORPG designed to enhance combat action and character progression. The game had a global soft launch on Aug. 6 in six countries — Canada, Brazil, Indonesia, Malaysia, Australia and New Zealand.
"Ares has further strengthened fast-paced, impactful action and the enjoyment of directly controlled combat to reflect the play preferences of overseas users," Com2uS Holdings said.
The company has designed Ares to reflect the preferences of overseas users who favor immersive individual gameplay over multiplayer experiences. It restructured the conventional action MMORPG format around a single-player action RPG experience. The early stages of the game place greater emphasis on single-player content, followed by cooperative player-versus-environment (PvE) content, seasonal endgame content and optional player-versus-player (PvP) modes. The approach is intended to lower barriers to entry and reduce competitive pressure.
Ares is seen in particular as a test of whether Com2uS Holdings' global multiplatform strategy for MMORPG and action games can translate into growth in overseas users. The game is scheduled for a global release this month, excluding South Korea and Greater China markets including China, Hong Kong and Macau.
The company is also preparing three other new titles: "Lone Chef," an action-adventure game combining hunting, exploration and cooking; "Space Revolver," a science-fiction puzzle adventure; and "Woof! Woof! Runners," a 4-on-4 team-based racing and character-development game.
Brokerages also see the success of new titles as ultimately determining whether Com2uS Holdings can recover its performance. Yuhwa Securities said in February that the company was seeking a turnaround this year by releasing at least eight new titles centered on a global and multiplatform strategy. It expected major second-half releases including Ares to drive revenue growth, while saying the extent of the company's top-line expansion this year would depend on the titles' actual commercial success. Yuanta Securities also identified the global release of Ares as a key anticipated title in April and forecast that global launches of multiple new games would lead to growth in game-business revenue.