CyberAgent’s subsidiary QualiArts has released its financial report for the fiscal year ended September 30, 2024. The Japanese developer has recorded impressive growth in its annual earnings.
Gakuen Idolmaster (学園アイドルマスター)
According to financial results published in Japan’s official government gazette (via ITmedia), QualiArts reached a net profit of ¥3.17 billion ($20.6 million) in FY24, up 6,214% year-over-year. Its net assets grew 249% to ¥7.63 billion ($49.7 million).
The main driver of such a rapid growth is Gakuen Idolmaster (学園アイドルマスター), a new mobile deckbuilder based on the popular Japanese franchise The Idolmaster. QualiArts served as the developer, while Bandai Namco was the publisher and co-developer.
Launched exclusively in Japan on May 16, Gakuen Idolmaster surpassed 1 million downloads in less than two weeks. It crossed the 2 million mark at the end of October.
According to AppMagic, the game has generated over $109 million in net IAP revenue (reduced by platform fees and inclusive taxes) since launch. iOS accounts for 61.7% of the total.
Google recently named Gakuen Idolmaster the Best Game of 2024 on Google Play in Japan. “I believe this is all thanks to our development partner QualiArts, the cooperation of all the various people involved in the story, music, video, etc.,” the game’s producer Hidefumi Komino said.
Gakuen Idolmaster’s IAP revenue (via AppMagic
QualiArts was established by CyberAgent in 2016 to develop mobile titles. In addition to Gakuen Idolmaster, the studio also operates rhythm game Idoly Pride, which generated $45 million in Japan alone (it also has a global version operated by Neowiz).