![]() ![]() ($1 = 6.5619 Chinese yuan renminbi) (Reporting by Pei Li and Tony Munroe. 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 Studios is the developer of Call of Duty: Mobile and Honor of Kings, Nintendo also reached the studio for the development of the upcoming mobile strategy game Pokemon Unite.Xbox might be interested in bringing some of its biggest franchises to iOS and Android. 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. ![]() This advertisement has not loaded yet, but your article continues below. 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.” (Reuters) Chinese tech giant Tencents TiMi Studios, maker of popular video games Honor of Kings and Call of Duty Mobile, generated revenue of 10 billion. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder. TiMi Studios, owned by Tencent Games and responsible for titles such as Honor of Kings and Call of Duty Mobile, made the most out of 2020 and saw a huge profit as a result. ![]()
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