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China Fund News reporter Niu Siruo

On July 25, the China International Digital Entertainment Industry Conference was held in Shanghai. At the conference, the China Game Working Committee released relevant data on the Chinese game industry in the first half of 2024.

Data shows that from January to June this year, the actual sales revenue of the domestic game market was 147.267 billion yuan, a year-on-year increase of 2.08%, with a slow growth trend; the scale of game users was nearly 674 million, a year-on-year increase of 0.88%; and from the perspective of the issuance of game licenses in 2024, the number of licenses issued so far has exceeded 700, a significant increase over the same period last year, and the game industry has shown a sustained growth trend.

The effect of game export is remarkable

Since the beginning of this year, my country's game market has continued to grow steadily. Specifically, the actual sales revenue of the mobile game market was 107.577 billion yuan, a year-on-year increase of 0.76%, accounting for 73.01% of the overall market, still in a dominant position; the actual sales revenue of the client game market was 33.763 billion yuan, a year-on-year increase of 2.49%, accounting for 22.93% of the market; the actual sales revenue of the web game market shrank to 2.340 billion yuan, a year-on-year decrease of 1.88%.

In terms of overseas markets, thanks to the significant growth brought by hit products, the actual sales revenue of China's self-developed games in overseas markets reached US$8.554 billion in the first half of the year, a year-on-year increase of 4.24%. Among them, the United States, Japan and South Korea are still the main overseas markets, accounting for a total of 57.48% in the first half of this year, a slight decrease year-on-year.

Among the top 100 self-developed mobile games in terms of overseas market revenue, strategy games still took the first place, accounting for 32.66%, while role-playing games accounted for 10.48%, a significant year-on-year decline. Simulation business, MOBA and placement games saw significant growth in revenue, with the three categories increasing from 5.28%, 3.83% and 3.95% last year to 9.97%, 9.07% and 7.5% this year, respectively.

Regular issuance of game licenses stimulates market vitality

Since the beginning of this year, domestic game licenses have been issued steadily every month. So far, a total of 733 games have been issued, far exceeding the 609 games in the same period of 2023. Specifically, mobile games account for nearly 90% of the approved games, among which the proportion of casual game licenses has jumped from 18% last year to 38%, covering many listed companies such as Tencent, Mihoyo, and Sanqi Interactive Entertainment.

This torrent of license issuance, along with the recent emergence of high-quality games, indicates that the gaming industry is entering a golden period of rapid growth.

Wanlian Securities Research Report pointed out that in 2024, game licenses will continue to be issued, high-quality blockbuster new games will continue to be launched by leading manufacturers, the overall Chinese game market is expected to be positive, the leading products in the overseas market will perform well, and the revenue of Chinese self-developed games going overseas will grow steadily. Overall, the game industry is expected to show a growth trend.

Editor: Xiaomo

Audit: Wooden Fish

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