As reported by Xinhua, China saw stable growth in the mobile gaming industry in the first quarter of 2022, with the sector exceeding 60.43 billion yen (about $9.13 billion) in revenue..
Revenue in the quarter increased 2.72% year over year and, more dramatically, 9.28% compared to the fourth quarter of 2021. And this despite the withdrawal of the Roblox’s LuoBuLesi application in the Chinese market in the first quarter, and after a successful 2021 for Netease and Tencent in particular.
NetEase revealed that its revenue jumped 19% in 2021, earning $9.6 billion from mobile games. Tencent’s revenue grew 9.9% in 2021 to nearly $33 billion.
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Meanwhile, in overseas markets, games developed in China generated revenue of around $4.55 billion, down 0.54 percent from the previous quarter.
In January, Moonton revealed that Mobile Legends: Bang would release its first-ever NFT collection named The Aspirants, despite the company facing new legal action from Riot for copyright infringement.
The 60.43 billion yen from mobile made up the bulk of the gaming market’s total revenue in the quarter, which grew 3.17% year-on-year and 10.08 % since the fourth quarter to reach 79.47 billion yen ($11.7 billion).
Since the end of the first quarter, China appears to have ended its licensing freeze on new games, having approved 45 new games in April for the first time in nearly nine months.