Tencent's annual online games revenue 2014-2024
Over the past decade, the Chinese technology group Tencent Holdings has invested heavily in developing its gaming business. In 2024, its online games grossed 198 billion yuan – a considerable increase compared to the previous year. This made up almost 30 percent of the Chinese tech giant’s annual revenue.
Tencent’s gaming empire
The entertainment giant has remained as the world’s top game publisher by revenue, leading the industry with 12 million U.S. dollars in quarterly earning more than the second placeholder, Sony. Tencent's mobile games Peacekeeper Elite and Honor of Kingshave been well-received in the Chinese market. In fact, the Chinese conglomerate controls stakes in some of the world’s popular games, such as League of Legends, Fortnite, and Clash of Clans. Its battle-royale game PUBG Mobile has gained immense popularity in overseas markets.
The goldmine of online gaming in China
In a country with over 670 million gamers, the gaming market in China is massive and lucrative. Since 2017, the revenue of China’s video game industry has surpassed 200 billion yuan and continued to grow steadily. Undoubtedly, Chinese consumers are highly engaged in mobile gaming. Role-playing, real-time strategy, shooter, and fighting games are the most popular genres. Besides mobile games, eSports is another booming game sector in China with role-playing games (RPG) and multiplayer online battle arena (MOBA) being the major revenue powerhouse. Having scoped out the market potentials of eSports, Tencent invested in the eSports streaming platform Douyu and acquired Douyu’s biggest domestic rival Huya in April 2020. It is quite unlikely for other market players to shake Tencent’s dominating status in the next few years.
