Tencent, which has benefited from a surge in paying gamers, said last week its online games revenue rose 29% to 39.1 billion yuan in the fourth quarter. 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. Tencent did not immediately reply to a Reuters request for comment. The sources declined to be identified because the information is not public. Aurora Studios Group, boosted by its Moonlight Blade Mobile title, contributed 3%, the people said.
Of Tencent’s remaining gaming revenue last year, its Lightspeed and Quantum Studio, the developer of PUBG Mobile, another top-grossing game, contributed 29%, the people said, while 26% was proceeds from publishing for other developers. Timi’s proceeds accounted for 40% of the game revenue, said the two people. PlayStation developers reveal their most awaited games of 2021 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. Sony pulls Cyberpunk 2077 from PlayStation Store after backlash 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 the US” 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 PlayStation, Nintendo’s Switch, and Microsoft’s 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. TiMi has been trying to strengthen its own brand and distinguish itself from other Tencent gaming clusters, such as its internal rival LightSpeed & Quantum Studio, which is known for PUBG Mobile.A sign of Tencent is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017.Ĭhinese tech giant Tencent’s Timi Studios, the 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. The partnership could help TiMi build a name globally by converting its mobile titles into console plays for Microsoft’s Xbox. In all, TiMi pocketed $10 billion in revenue last year, according to a report from Reuters citing people with knowledge. In 2020, Honor of Kings alone generated close to $2.5 billion in player spending, according to market research company SensorTower. The post Tencent’s TiMi Studios, the developer of Honor of Kings, Call of Duty Mobile, partners with Xbox. The succinct announcement did not mention whether the tie-up is for content development or Xbox’s console distribution in China, but said more details will be unveiled for the “deep partnership” by the end of this year.Įstablished in 2008 within Tencent, TiMi is behind popular mobile titles such as Honor of Kings and Call of Duty Mobile. The companies are looking to bring a 'new game sensory experience' to players this year. TiMi Studios, one of the world’s most lucrative game makers and part of Tencent’s gargantuan digital entertainment empire, said Thursday that it has struck a strategic partnership with Xbox.
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