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(Reuters) – Timi Studios, from Chinese tech giant Tencent, maker of popular video games Honor of Kings and Call of Duty Mobile, generated $ 10 billion in revenue last year, told Reuters two people with direct knowledge of the subject.
The $ 10 billion would make Timi the world’s largest developer, the sources said, which many industry watchers suspected was.
It also provides a solid foundation for its ambitions to go beyond mobile games and directly compete with global heavyweights developing expensive “AAA” titles on platforms such as desktop PCs, Sony’s PlayStation, Nintendo Switch and Microsoft’s Xbox.
In a recruitment notice last month, an engineer from Timi wrote that the company aims to make a new AAA game that looks like the virtual community from the movie Ready Player One, and “will take on great powers from Japan, Korea. , Europe and United States ”
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 and global appeal.
Tencent ultimately aims to get half of its overseas gaming revenue, up from 23% in the fourth quarter of 2019, the latest figure available.
Many major studios are looking to Tencent for help converting their “hardcore” desktop or console games to mobile. These games feature lengthy sessions and in-depth storytelling or battles, some featuring online multiplayer role-playing games or online combat arenas.
Last week, Tencent reported 156.1 billion yuan ($ 23.79 billion) in overall online game revenue for 2020, but did not break down the revenue for individual studios, which are independently managed and made. competition.
Timi’s revenue made up 40% of the game’s revenue, the two said.
Of Tencent’s remaining gaming revenue last year, its studio Lightspeed and Quantum, the developer of PUBG Mobile, another top-grossing game, contributed 29%, people said, while 26% came from the publication for other developers. Aurora Studios group, bolstered by its title Moonlight Blade Mobile, contributed 3%, people said.
The sources declined to be identified because the information is not public.
Tencent did not immediately respond to a request for comment from Reuters.
Tencent, which has benefited from a sharp increase in the number of paying players, said last week that its online gaming revenue rose 29% to 39.1 billion yuan in the fourth quarter.
($ 1 = 6.5619 Chinese renminbi yuan)
Reporting by Pei Li and Tony Munroe. Editing by Gerry Doyle
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