TikTok parent ByteDance Ltd's gaming foray exudes promise as spending across its mobile titles grew over the past year, according to Sensor Tower.
The report highlighted TikTok owner generated $1 billion of player spending across its mobile games as of the year ended June 20, 2022, up 16% year-on-year.
ByteDance had set up a dedicated gaming business unit internally, CNBC reports. ByteDance also acquired major gaming studios Moonton and C4 to boost overseas growth.
Bang Bang from Moonton contributed 32% of the annual $1 billion figure, followed by C4′s Girls Chronicle: Idle Heroine.
China's gaming license approval list missed big names like Tencent Holding Ltd (OTC: TCEHY) and NetEase, Inc (NASDAQ: NTES), forcing the companies to grow focus on overseas expansion. Sensor Tower expects ByteDance to follow suit due to the country's unpredictable regulatory environment. ByteDance had been expanding its operations both in China and internationally.
The player spending across Tencent mobile games totaled $7.9 billion globally, while NetEase's figure totaled $3.1 billion, versus ByteDance's $1 billion.
Asia proved to be its biggest market as Japan accounted for 34% of player spending on ByteDance's mobile titles, followed by China and the U.S.
Meta Platforms Inc (NASDAQ:META) has been struggling to replicate TikTok's success as it continued to lose users to the latter.
Meta's Biggest Rival Posts Visible Success On Gaming Foray Despite Bigger Rivals Like Tencent, NetEase
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
Risk Disclaimer
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
Got it
Risk Disclaimer
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
Got it
Write a comment
0 0 0
LikeLoveLaughing CryRespectEmmSadAngry
Tap to Select a Mood
- 分享到weixin
- 分享到qq
- 分享到facebook
- 分享到twitter
- 分享到微博
- 粘贴板
Use the share button in your browser
to share the page with your friends
Tap here to share
No comments yet. Write one.