Tencent games revenues rose to $27 billion in 2021
James Batchelor
Editor-in-Chief
Thursday 24th March 2022
At a glance:
Chinese megacorp Tencent has released its full-year financial results, showing total revenues from its games businesses have risen to RMB 174.3 billion ($27 billion).
Domestic games accounted for 23% of this at RMB 128.8 billion ($20.2 billion), showing year-on-year growth of 6%.
While it only accounted for 8% of total games revenues, international games showed the strongest growth: up 31% year-on-year to RMB 45.5 billion ($7.1 billion).
Combined, video games account for 31% of total revenues taken across all of Tencent's businesses last year, which was reported at RMB 560.1 billion ($87.9 billion) -- up 16% year-on-year.
Operating profit came in at RMB 159.5 billion ($25 billion, up 7%), while full-year profit held steady at RMB 127.9 billion ($20.1 billion, up 1%).
Tencent cited flagship title Honor of Kings as a particularly strong source of revenue, as well as new launches League of Legends: Wild Rift and Fight of the Golden Spatula. These partly offset declines in revenue seen by Moonlight Blade Mobile and Peacekeeper Elite, the repurposed PUBG Mobile themed around the Chinese military.
The company also gave insight into the effect of various measures it has taken to reduce the time young people spend playing its games, driven in no small part by new government regulations brought in last year.
Total playing time for minors was down 88% year-on-year, meaning young people accounted for 0.9% of the total time spent playing Tencent's domestic games.
Total grossing receipts from minors was down 73% year-on-year, accounting for 1.5% of all grossing receipts from domestic games.
Elsewhere, Tencent claimed it developed and/or operated five of the ten most played
Read more on gamesindustry.biz
