China’s Video Gaming Industry Breaks Revenue Records in 2024

China’s video gaming industry reached a new milestone in 2024. The revenue for the year hit 325.8 billion yuan (US$44.8 billion), a 7.53% increase from last year. This growth was driven by new hit game releases. These are the highest sales figures since 2003 when tracking began, although the growth rate has slowed compared to previous years.

Rise in the Number of Gamers

The number of gamers in China also saw a small rise. The gamer population grew by 0.94%, reaching 674 million people this year. This shows that more people in China are playing video games than ever before.

Major Game Contributions

The China Audio-Video and Digital Publishing Association reported that mobile and single-player games played a key role in boosting sales. These new titles captured gamers’ attention, leading to steady growth in the market. The report also mentioned that the government has been more supportive of the gaming industry. Public opinion about video gaming has also improved.

Mobile Games Lead the Market

Mobile games dominated the market. Sales from mobile games contributed 73% of the total, with a revenue of 238.2 billion yuan. However, the growth rate for mobile games was only 5%, much lower than the 17.5% increase seen last year. PC games made up 20.9% of the market, bringing in 68 billion yuan.

Overseas Expansion Boosts Sales

One bright spot for China’s video gaming industry has been its overseas success. Chinese companies have been pushing their games to foreign markets. Sales of Chinese-developed games outside of China grew by 13.4%, bringing in US$18.6 billion. This marks the first time in three years that overseas sales have increased.

Key Markets for Chinese Games

The United States remains the biggest overseas market for Chinese games. In 2024, US gamers spent the most on Chinese mobile games, making up 31.1% of foreign revenue. Japan and South Korea followed, with 17.3% and 8.9% respectively. Saudi Arabia, which has been investing heavily in gaming, entered the top 10 for the first time.

Country	Percentage of Revenue from Chinese Mobile Games
United States	31.1%
Japan	17.3%
South Korea	8.9%

Blockbuster Game Black Myth: Wukong

2024 has been a big year for China’s video gaming industry, especially with the release of “Black Myth: Wukong.” This game is considered China’s first AAA title, a big deal in the gaming world. Developed by Game Science, a Tencent-backed company, the game became a hit both in China and internationally. It sold over 10 million copies within four days of release. By the end of its first month, it had sold over 20 million units. This success helped push China’s video gaming industry to record sales in the third quarter of the year.

Conclusion

China’s video gaming industry continues to grow and expand, both domestically and internationally. With strong contributions from new mobile and single-player titles and overseas sales, the industry has achieved its highest-ever revenue in 2024. As China’s developers continue to innovate and release blockbuster games, the country remains a key player in the global video gaming market.

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