According to Sensor Tower, a mobile app data analysis firm, the top 30 game developers in China brought in over $2.3 billion in worldwide revenues in January. Successful efforts to expand sales overseas to new markets was cited as the reason for the surge in revenues.
Among the top five Chinese developers were Tencent (OTC: TCEHY), NetEase (Nasdaq: NTES), miHoYo, Lilith Games, and FunPlus.
The $2.3 billion sales figure generated by the top 30 Chinese gaming publishers accounted for 28.8% of the total revenue in the global mobile gaming market during the period, the firm said.
Sensor Tower added that overseas markets have become the most robust source of income growth for these Chinese game publishers.
The mobile gaming market grew almost 36% in the first half of 2020 compared to 22% during the first half of 2019.
The number of Chinese gamers is also growing at a rapid pace, projecting to rise 16% to 523.5 million in 2020.
The sales figures in January suggest that, while Chinese games have long been restricted to local markets, they are beginning to attract a greater audience of gamers worldwide. Still, The Chinese domestic market itself will represent the lion's share of the global market. According to Statista, the majority of global revenue will be generated in China in 2021, most revenue will be generated in China, reaching nearly $41.6 billion.
Of the top 100 mobile game developers in terms of January earning, 36 are from China, according to Sensor Tower.