Exclusive: Tencents Timi gaming studio generated $10 billion in 2020, sources say – Reuters2 min read

https://www.reuters.com/article/us-tencent-videogames-exclusive-idUSKBN2BP0FG

(Reuters) – Chinese tech giant Tencents Timi Studios, maker of popular video games Honor of Kings and Call of Duty Mobile, created income of $10 billion last year, 2 people with direct understanding of the matter informed Reuters.FILE PHOTO: The Tencent logo design is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/The $10 billion would make Timi the worlds largest developer, the sources state, which lots of market watchers had presumed to be the case.It also supplies a significant basis for its ambitions to move beyond mobile games and contend straight with international heavyweights developing pricey “AAA” titles on platforms such as desktop computer systems, Sonys PlayStation, Nintendos Switch and Microsofts Xbox.In a recruitment notice last month, a Timi engineer wrote that the business aims to produce a brand-new AAA video game that resembles the virtual neighborhood from the motion picture Ready Player One, and will “compete head-to-head versus huge powers from Japan, Korea, Europe and U.S.” Tencent is constructing studios overseas, including one for Timi and one for Lightspeed and Quantum, both in Los Angeles, with the objective of creating content with original intellectual home that has international appeal.Tencent aims eventually to obtain half its video game earnings from overseas, from 23 percent in the 4th quarter of 2019, the most just recently readily available figure.Many significant studios are turning to Tencent for assistance to transform their “hardcore” desktop or console video games to mobile. Such video games include long sessions and in-depth storytelling or fights, with some including multiplayer online role-playing or online fight arenas.Last week, Tencent reported 156.1 billion yuan ($ 23.79 billion) in general online game profits for 2020 however did not break down revenue for private studios, which are run separately and complete with each other.Timis proceeds accounted for 40% of the game income, stated the two people.Of Tencents remaining gaming earnings last year, its Lightspeed and Quantum studio, the designer of PUBG Mobile, another top-grossing video game, contributed 29%, the individuals stated, while 26% was earnings from publishing for other designers.

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