Tencent Owned Timi Studio Made Over $10 Billion In Revenue In 2020
Tencent Owned Timi studio made over $10 billion in revenue in 2020 and, according to reputable sources, will make up for that by 2021, two people with direct knowledge of the matter told Reuters. Reuters said Timi accounted for 40% of its revenue in 2018, followed by its parent company Tencent, the world’s second-largest video game company.
If the $10 billion data leak proves to be a fact, TiMi Studios would become the second-largest video game studio in the world, and one of the most successful in its industry, if that is the case. His experience on mobile platforms has spanned more than a decade of development, which has brought it to number one in Apple’s App Store and Google’s Play Store and brought him over $100 million in revenue in 2016, according to Reuters. With 10 billion US dollars, it would have become the largest developer of mobile games, many industry observers suspect.
It is believed that this would have opened up more distribution channels for games and tipped the bargaining power of the big game developers. It also offered the opportunity to compete directly with global heavyweights who are developing expensive AAA titles.
As a lesson to Tencent, Tencent continues to try to develop new genres, mix and match different genres and business models to create something exciting and compelling. We have therefore stated in the past that we believe that the economics of the game industry is not ideal for game studios and that the channels have in many cases been hijacked by large companies such as Sony, Microsoft, Nintendo, and Nintendo Entertainment System. But we continue to strive to invent innovation and we remain very interested in developing and innovating.
In 2012, Tencent bought 40 percent of Epic Games, which has since grown to a total market cap of $1.5 billion after Fortnite’s huge success. So with this game, we’ve found that we can launch on iOS to reach more of our target audience while avoiding the high revenue sharing on Android. We use the massive WeChat and Qq Messenger to attract users, and this has already proved to be a huge success for parent company Ten Cent, which has invested tens of billions of dollars.
With sources claiming that the studio has generated more than $1.5 billion in revenue in the first half of this year alone, Timi Studios seems to be at the forefront of this goal. According to the source, Tencent’s goal of generating $10 billion by 2020 hinges on the success of Fortnite and other games.
Regardless, a global reason for the revenue of the developer Call of Duty Mobile could be. The MOBA game has only just been released in China, but given Tencent’s track record with its mobile games, it seems well placed to make the mobile transition following the success of its popular console shooter.
The expansion is ideal for Tencent, which wants to take at least half of its gaming revenue from overseas companies, which it says will only make up 23 percent in 2019. Ultimately, the company aims to generate 50 percent of its gaming revenue from abroad by 2020 and 60 percent by 2021.
The company, which is developing the Call of Duty game series, reported revenue of $8.1 billion for 2020. By comparison, Activision Blizzard – which publishes the “Call of Duty” franchise – earned the $10 billion TiMi reported by 2020, according to the report.
Total revenue in the first quarter of 2020 increased from RMB575 million (10.0%) in the same period of the previous year to RMB6.5 billion ($1.8 billion). Total TiMi sales in the first quarter increased by 3.3%, and total game and entertainment revenue increased by 27.4%.
PC client game revenues were stable in the first quarter of 2020, with higher revenue from Dungeon Fighter in China offsetting declining revenue from Dungeons & Fighter China.
It was also a huge win for Timi Studios and Tencent, as the action hit Shooting Title proved to be a feasible venture for the company. While Riot is naturally biased, extremely pleased, and took a lot of time to release the mobile incarnation of League of Legends, the end product was one that everyone, at least internally, is extremely pleased with, according to the report. The riot was “extremely pleased” and everyone else was “very pleased” with the performance of the game. Tencent also built on the success of PUBG Mobile, which was developed by Lightspeed and Quantum. It has set up a number of studios abroad, including studios in Hong Kong, Singapore, Taiwan, Japan, South Korea, and the US, with plans to create studios for games such as Star Wars Battlefront II and Star Trek:
Sources say that 11-year-old TiMi currently has a team working on global business in Los Angeles and plans to expand the studio into a full-fledged development studio that helps Western players understand it and gives it a stronger global perspective.