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China’s video gaming industry grew 7.53 per cent this year, reaching record sales of 325.8 billion yuan (US$44.8 billion), aided by the release of new hit games, according to the country’s semi-official gaming industry association.

The figures for the domestic video game market, the second-largest in the world, mark the highest annual sales since the data started being tracked in 2003, although growth slowed from the double digits it saw last year. The numbers were released by the China Audio-Video and Digital Publishing Association at its annual conference in Beijing on Friday.

The number of gamers in the country rose 0.94 per cent to 674 million this year.

“The scale of the domestic market has been steadily increasing, with new mobile titles and single-player titles making outstanding contributions,” the association said in its report. Policy support and the public opinion environment regarding video gaming has continued to improve, it added.

In 2023, the country’s video game sales surged 14 per cent to 303 billion yuan, amid a post-Covid recovery of consumer spending and the launch of a significant number of new titles.

Mobile games sales, which made up 73 per cent of the total, grew 5 per cent this year to 238.2 billion yuan. The growth was significantly slower than last year’s 17.5 per cent. PC games made up 20.9 per cent of the market with 68 billion yuan in sales.

Meanwhile, overseas growth has emerged as a bright spot for the industry, as Chinese firms “continuously innovate and expand in the process of going abroad”, according to the association. Sales of China-developed games grew 13.4 per cent to US$18.6 billion this year, marking the first overseas sales increase in three years.

The US remains the largest foreign market for mobile Chinese games in terms of revenue, making up 31.1 per cent of the market in 2024, followed by Japan’s 17.3 per cent and South Korea’s 8.9 per cent. Saudi Arabia, which is now investing heavily in gaming and esports, broke into the top 10 markets for Chinese mobile games this year.

Emerging from an industry crackdown three years ago, 2024 has been a big year for Chinese video games with the release of Black Myth: Wukong, which is being celebrated as the country’s first AAA title. The game has been well-received overseas by both gamers and critics.

Launched by Tencent-backed Game Science in August, Black Myth recorded sales of more than 10 million copies less than four days after release, and sold more than 20 million units in its first month, becoming one of the best-performing Chinese games ever.

The game helped propel the Chinese gaming industry to record quarterly sales in the three months through September, increasing 9 per cent from the same period last year to 91.8 billion yuan.

China’s video gaming revenue hits new high in 2024 on back of hit titles

Industry revenue grew 7.53 per cent to US$44.8 billion in what has been a big year for Chinese games overseas, including Black Myth: Wukong.

www.scmp.com

 

[Hrk69]

 

[mckmas8808]

With big Playstation right in the window. Looks like their plan is working.

 

[Zacfoldor]

Wait a minute (uh), get it how you live it (uh)
Ten toes in when we standin' on business

 

[Unknown?]

On our way to that 1%!!