Genshin Impact nets massive $5.4 billion revenue, showcasing might of China game developers

Genshin Impact, a video game released by Shanghai studio miHoYo in September 2020, has produced over US$4 billion (S$5.4 billion) in worldwide sales in just over two years.

This makes it one of the most popular mobile games of all time and signals the emergence of games created in China.

According to a survey released by US app analytics company Sensor Tower, the game has enjoyed long-term success in major mobile game countries.

Japan, the US, and South Korea were the top three international markets, accounting for about two-thirds of the total revenue.

China spent the most (34.6 per cent of revenues, or US$1.4 billion), followed by Japan (23.2 per cent of revenues, or US$960 million). The US contributed approximately US$680 million, while Korea contributed US$250 million.

When the domestic gaming market stays stagnant due to strict regulatory constraints and low consumer spending, Genshin Impact proves that Chinese mobile games have the potential to attract gamers from around the world.

China now has access to new sources of foreign income thanks to the robust overseas revenue produced by Chinese games like Honour of Kings and PUBG Mobile, two of Tencent Holdings' most profitable games.

In terms of revenue, Genshin Impact amassed US$1 billion in revenue in six months, three months faster than Pokemon Go. On its second anniversary last September, it had 37.3 million downloads in the year.

On the PlayStation 4 and PlayStation 5, Genshin Impact is also very popular.

In the fiscal year of 2021, Sony generated US$2 billion in revenue from five free-to-play live games on its PlayStation platforms.

Fortnite took the top spot, followed by Genshin Impact, which had only been released a year before, beating out Call of Duty Warzone, Apex Legends, and Rocket League.

Chinese video game companies appear to be moving closer to exerting greater influence by acquiring ownership, holding shares, or forming partnerships with international producers, as proven by Genshin Impact's ongoing success.

ALSO READ: Sony raises China game incubation funding, hopes to discover next Genshin Impact

This article was first published in Geek Culture.