![]() ![]() One strategy has been to hedge its bets through investments and acquisitions. This came in a year when Tencent was particularly aggressive in its overseas expansion. Tencent, NetEase and miHoYo claimed the top three spots, having generated a combined $10.35 billion in annual revenue.Īccording to Tencent’s Q3 financial report for 2022, the company’s domestic gaming revenue fell by 7% year-on-year, while its overseas revenue grew by 3%. ![]() On the upside, overseas companies - whether focused on PC or console gaming - have been relatively late to mobile gaming, giving their Chinese competitors an edge.Īccording to third-party data site AppMagic, seven of the 30 top-earning mobile game developers in 2022 were Chinese. A report by the China Game Industry Research Institute showed that, in the first half of 2022, China’s gaming population shrunk by 0.1% year-on-year to 670 million, while market revenue fell by 1.8% on the previous year to 147.79 billion yuan ($21.9 billion). While the global gaming market has continued to grow, the domestic scene is close to saturation. However, the prospect of more licensing freezes, as well as policy adjustments to prevent minors spending too much time gaming, could make life difficult for developers looking to release new games for some time. The General Administration of Press and Publication’s decision to restart its approval process for domestic online games in mid-2022, after a nine-month suspension, and to issue licenses to imported games for the first time in over a year, provided a boost to the industry. ![]() Tightening regulations at home are one key factor. “Last year, virtually every company was looking abroad.” “More so now than ever,” said one industry insider. “Go global or it’s game over.” It’s a phrase often heard in China’s video game industry these days.įor many Chinese game developers, overseas expansion is seen as their only chance of survival. ![]()
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