![]() ![]() They own almost all of their IPs, they likely still receive a decent amount of merchandise money from stuff like Inazuma and Yokai Watch, they make what are likely lucrative licensing deals for stuff like that NetMarble NnK smartphone game, etc. At the same time, though, they always continued to put out smaller titles and successful rereleases (no idea how much they get from NnK's international sales, but every time the game's on sale it's near the top of the charts). It's always been a studio that aimed to punch above its weight, which I think both makes them appear bigger than they are as well as lead to problems in the last few years where that approach definitely stopped working. People seem to think Level 5 should put out huge games on a yearly basis, that they should be doing new entries in all of their big series and fan favorites all at once, but they don't really have the headcount for that. It's a pretty small studio all things considered with only 300 employees, that's about the same size as Monolith Soft. ![]() ![]() I think people also have a warped sense of Level 5's size. ![]()
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