(Yicai Global) April 25 – China’s video game market saw slower revenue growth in the first quarter compared to a year earlier, following government measures to curb gambling addiction among young people. minors, including an eight-month halt to new gaming licenses.
Revenue rose 3.2% to 79.5 billion CNY (12.2 billion USD) in the three months ended March 31, according to a report released yesterday by research institute Gamma Data. That was slower than the 5.2% increase recorded a year ago.
Mobile game revenue rose 2.7 percent to 60.4 billion yuan from 6.2 percent a year ago, according to the report.
Securities from Shenzhen-based Tencent Holdings, the world’s largest video game developer, are still the market leaders. Honor of Kings, known as Arena of Valor overseas, and Peacekeeper Elite, a Chinese version of PUBG Mobile, took first and second place for revenue among mobile games. They were followed by Shanghai studio miHoYo’s Genshin Impact.
Only one new game made the top 10 – Civilization and Conquest – developed by Xiamen-based 4399 Network. The game was released at the end of December and it came in at 10th in the revenue chart.
Beijing-based Gamma Data did not reveal specific revenue from the games in the ranking.
Chinese regulators last August unveiled strict measures to prevent the addition of games to minors, limiting their online gaming time to three hours a week, but resumed issuing video game licenses earlier this month. after an eight-month hiatus.
The National Press and Publication Administration issued 85 licenses for online game titles, including Baidu’s Bang Bang Rabbit and Zqgame’s Clocker for Nintendo Switch on April 11. It had not issued any such license since July 22 last year.
Chinese game developers are also making slower progress in overseas markets, according to the Gamma Data report. Games developed in China earned $4.6 billion overseas in the first quarter, up 12.1% from the previous year, but down 0.5% from the previous quarter, mainly due to the lack of substantial growth in new titles.
Editors: Dou Shicong, Tom Litting