With strong self-developed capabilities, Shanghai's total online game sales revenue will reach 144.528 billion in 2023

Release time:Jun 20, 2024 15:06 PM

In 2023, the total sales revenue of Shanghai online games will be 144.528 billion yuan, a year-on-year increase of 12.89%. Among them, domestic sales revenue is 119.011 billion yuan, a year-on-year increase of 14.77%; overseas sales revenue is approximately RMB 25.517 billion, a year-on-year increase of 0.09%, both of which are better than the national average. On the afternoon of June 20, the annual Shanghai Game Elite Summit was held in Shanghai, and the "2023-2024 Shanghai Game Publishing Industry Report" was released on site. The Jiefang Daily·Shangguan News reporter learned from the meeting that the total sales revenue of Shanghai online games in the first half of this year is expected to reach 74 billion yuan.

According to national data, the actual sales revenue of the Chinese game market will reach 302.964 billion yuan in 2023, a year-on-year increase of 13.95%. It is worth noting that the actual sales revenue of China's self-developed games in the overseas market in 2023 was 16.366 billion US dollars, which has declined for two consecutive years. In addition to factors such as changes in the market environment and increased acquisition costs, which have made it more difficult for Chinese games to go overseas, exchange rate fluctuations have caused Chinese game companies to face more uncertainties in the process of going overseas. Despite this, the number of Chinese games on the list in multiple overseas markets continues to increase, indicating that Chinese game companies continue to be competitive overseas. With the optimization of overseas strategies, the potential of overseas markets needs to be further explored.

Against this backdrop, the year-on-year growth of Shanghai's online game market at home and abroad is better than the national average. In 2023, mobile games, client games, and web games accounted for 77.6%, 17.3%, and 2.9% of Shanghai's online game sales revenue, respectively. Among them, mobile game sales revenue was 92.362 billion yuan, a year-on-year increase of 18.04%, and it is still the main force in the game market. "The leading companies in Shanghai, represented by Mihoyo, have played a significant role in driving the development of Shanghai games, enabling them to achieve better performance in long-term stability and new product incubation." said Wang Xu, co-founder and chief analyst of Gamma Data.

As a major city in China's game industry, Shanghai has incubated leading game companies such as Mihoyo, Lilith, Eagle Point Network, and Paper Games, with strong independent research and development capabilities. In 2023, Shanghai's self-developed online game revenue was 103.786 billion yuan, a year-on-year increase of 17.85%, and the proportion of self-developed revenue continued to increase. With the enhancement of the self-research capabilities of game companies, game technology has brought efficiency to the technological progress of industries such as chips, 5G high-speed communication networks, XR, and artificial intelligence. At present, Shanghai companies have conducted research and applied for patents in some game-related fields. In 2023, 9.5%, 8.3%, and 8.1% of the patents related to large models, brain-computer interfaces, and augmented reality were applied by Shanghai companies, respectively.

Wang Xu analyzed that the improvement of Shanghai's self-developed strength is due to the fact that leading companies have increased their self-developed proportion. Many companies launched new self-developed products last year, driving the overall growth of Shanghai's self-developed game market, such as the self-developed products "Sword of the Lily of the Valley" and "Let's Go! Muffin" launched by X.D. Games. In addition, Riot Games, Unity China, Ubisoft China and other companies have also established R&D centers in Shanghai to accelerate the improvement of Shanghai's self-developed strength.

"In 2023, Shanghai's leading companies maintained their advantages. Among the top 50 companies in terms of game revenue, Shanghai companies accounted for 24%. Mihoyo and Lilith have been on the list for many consecutive times." Wang Xu believes that the spillover effect of leading game companies strengthens the cluster advantage and improves the industrial chain structure. The business environment advantages that Shanghai continues to build have also further gathered game talents and companies in Shanghai. Last year, 5.2% of China's newly established online game companies were located in Shanghai, a significant increase compared to 2022; in the recruitment of game talent-related positions, Shanghai accounted for 10.1%, second only to Guangzhou.

Judging from the situation of games going overseas, the stable performance of leading products is an important source for Shanghai online games to maintain a high level overseas. According to Gamma Data statistics, among the Shanghai products that entered the TOP100 mobile game overseas revenue list in 2023, the revenue of products that have been on the list for two consecutive years accounted for 74.2%. Taking "Mobile Legends" as an example, the potential of the global e-sports ecosystem built by Moonton Technology has been released, and the peak audience of the annual highest-level event M5 has exceeded 5 million, and it has been growing year by year. The highly active e-sports ecosystem is fed back to the product performance, so that even though the product has been online for more than 7 years, the overseas revenue in 2023 will still increase by more than 20% year-on-year.

Overseas emerging markets have also attracted the attention of Shanghai game companies. Mobile Legends: Bang Bang ranks first in the mobile game revenue list in the Indonesian market. At the same time, looking at the global market, ACG culture has a large audience worldwide, and ACG games are Shanghai's traditional advantage track. According to Gamma Data statistics, in 13 important overseas markets around the world, about 60% of users like ACG culture. Today, the Japanese and Korean markets have become a red ocean, and regions such as Brazil, Indonesia, and Turkey, which also have a high preference for ACG culture, are expected to become breakthrough opportunities for ACG games to go overseas.

In the industry's view, faced with increasingly high R&D costs, the gaming industry has a strong demand to reduce costs and increase efficiency, thereby accelerating the application of AI in the gaming industry. At present, the application of AI technology in reducing game development costs, optimizing game content, and lowering development thresholds has been widely recognized.

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