Virtual Mind Gets Tencent License to Sell Online Game Merchandise in China Shares Up 8% Tencent to Tighten Oversight Over Douyu After CEO's ArrestĬhina Ruyi Increases Transaction Limit of Game Cooperation ContractĬhina police arrest man on suspicion of opening casino local media link case to DouYuĭouYu International CEO arrested by Chengdu policeīaidu says sees limited impact from U.S. Hongxin Electronics Partners with Alibaba Cloud to Establish Green AI Computing Power CenterĬhinese Software Sector’s Profit Jumps 14% in January-October PeriodīyteDance to wind down gaming brand Nuverse in full retreat from gaming -sources Editing by Gerry Doyle)Ĭhina's Xi urges stronger rule of law overseas amid 'external risks'ĭouYu International forms committee to manage ops after CEO's arrest 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. 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. 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 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.
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