Arena of Valor Upgraded to Tencent’s Strategic Project
Arena of Valor, an overseas version of the Honor of Kings mobile game, has been given upgraded importance and is now considered a strategic key project as of September 2021. The multiplayer online battle arena game (MOBA) has had its budget doubled, according to a report by LatePost on Thursday.
In addition, Tencent Games’s TiMi Studio Group and Lightspeed & Quantum Studios Group have set up new studios in many places overseas. Tencent Games’s goal is that the revenue from overseas markets should account for 50% of its total game revenue.
The market isn’t smooth sailing, however, as the game registration numbers issued by the Chinese government have been suspended since July 2021. LatePost has learned from a number of people in leading game companies that their teams had already made plans for a year-long suspension of game registration numbers. As a result, some have delayed the preparation and launch time of their Chinese versions game projects and have increased their investment in overseas markets.
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Earlier, William Ding, CEO of Chinese leading game developer NetEase, Inc., said in the recent Q4 teleconference and annual financial report that he would like to attract the world’s top gaming talent to accelerate the company’s development in overseas markets. Meanwhile, ByteDance recently acquired Moonton Games, a video game developer in China, at a price of nearly 5 billion yuan ($790.7 million). The latter has launched Mobile Legends: Bang Bang, aiming at the Southeast Asian market.
According to the data of Sensor Tower, in January 2022, miHoYo’s “Genshin Impact”, Tencent‘s “PUBG Mobile” and Lilith Games’ “Rise of Kingdoms” ranked among the top three in the overseas income list of Chinese mobile games.