Monday, 2024 February 26

CHINA BRIEF | Revenues of Chinese mobile game providers hit record-high of USD 7 billion during Q1

In the first three months of 2020, the total revenue of Chinese mobile game providers has surpassed RMB 50 billion (USD 7 billion), up 40% year-on-year, marking a record-high as people are spending more time on apps during the stay-home period, a report from research institute Gamma Data shows.

According to the report, released Wednesday, the past quarter saw net incomes of gaming firms surge, boosted by the Lunar New Year festive time, the releases of new games, and the coronavirus outbreak which has kept people indoors longer than usual.

Tencent’s hit title PUBG Mobile raked in USD 232 million in March alone with a threefold increase compared to the same period of 2019, making it the highest-grossing mobile game worldwide, per Sensor Tower data.

An App Annie report says consumers worldwide spent over USD 16.7 billion on mobile games through iOS stores and Google Play in the first quarter.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Wency Chen
Wency Chen
Wency Chen is a reporter KrASIA based in Beijing, covering tech innovations in&beyond the Greater China Area. Previously, she studied at Columbia Journalism School and reported on art exhibits, New York public school systems, LGBTQ+ rights, and Asian immigrants. She is also an enthusiastic reader, a diehard fan of indie rock and spicy hot pot, as well as a to-be filmmaker (Let’s see).
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