![]() Timi's proceeds accounted for 40% of the game revenue, said the two people. Last week, Tencent reported 156.1 billion yuan ($23.79 billion) in overall online game revenues for 2020 but did not break down revenue for individual studios, which are run independently and compete with each other. Such games feature long sessions and in-depth storytelling or battles, with some including multiplayer online role-playing or online battle arenas. Many major studios are turning to Tencent for support to convert their "hardcore" desktop or console games to mobile. Tencent aims eventually to derive half its game revenue from overseas, from 23 percent in the fourth quarter of 2019, the most recently available figure. Tencent is building studios overseas, including one for Timi and one for Lightspeed and Quantum, both in Los Angeles, with the goal of creating content with original intellectual property that has global appeal. In a recruitment notice last month, a Timi engineer wrote that the company aims to create a new AAA game that resembles the virtual community from the movie Ready Player One, and will "compete head-to-head against big powers from Japan, Korea, Europe and U.S." It also provides a hefty basis for its ambitions to move beyond mobile games and compete directly with global heavyweights developing expensive "AAA" titles on platforms such as desktop computers, Sony's (6758.T)PlayStation, Nintendo's (7974.T)Switch and Microsoft's (MSFT.O)Xbox. The $10 billion would make Timi the world's largest developer, the sources say, which many industry watchers had suspected to be the case. According to Interpret’s New Media Measure: Global Profiles™, Level Infinite has work to do in growing interest around Honor of Kings, but the studio certainly isn’t starting from scratch as gamers outside China, especially in other Asian countries, have spent some time playing the game in the past three months.April 2 (Reuters) - Chinese tech giant Tencent's (0700.HK) Timi Studios, maker of popular video games Honor of Kings and Call of Duty Mobile, generated revenue of $10 billion last year, two people with direct knowledge of the matter told Reuters. Level Infinite is already planning a global Honor of Kings tournament for later this year with a $10 million prize pool. If Honor of Kings succeeds in more regions of the world, there’s a good chance that a more vibrant esports ecosystem will follow. In fact, Level Infinite was formed last year with the express purpose of bolstering Tencent’s presence in overseas markets. The decision to leverage more global markets also comes at a time when Tencent recorded a much slower quarter amid a games crackdown from Beijing and a fiercely competitive domestic market. By contrast, Tencent claimed it had 100 million daily active players for Honor of Kings in China by 2020.įor the firm’s second attempt, it’s believed that Tencent will do less to Westernize it and plans to release largely the same game as the one enjoyed by millions in China. The source noted that the game only had around 100,000 daily active users in Europe and 150,000 in North America. Arena of Valor launched as the Westernized version of the game in 2017, but it failed to have a large impact on overseas markets, with one source close to Tencent admitting to Reuters in 2019, “In those markets, we are really just letting it live or die on its own course.” This is not the first time that Tencent has tried to gain more global traction with the IP. The developer recently tweeted out, “We will be rolling out Honor of Kings by TiMi Studio Group to you global gamers by the end of this year! Rounds of closed beta tests will be gradually announced starting next month.” ![]() Tencent understands, however, that if it is able to tap into enough interest in the game in overseas markets, it could see far greater success than it already has.Īccording to Tencent’s new studio Level Infinite, the plan is to do just that. And yet, much of that success has been driven by strong interest and a robust esports ecosystem in Honor of King’s domestic market. ![]() Mobile analytics tracker Sensor Tower noted that the popular MOBA had garnered an incredible $10 billion in lifetime revenue worldwide as of last year. Tencent’s Honor of Kings (known as Arena of Valor in the West) frequently finds a spot among the top grossing mobile games each month.
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