The ability to attract funds is second only to Tencent and NetEase! MiHoYo earns 27.3 billion yuan in 2022 | Railway | Data | Capability
Introduction: "The data disclosed this time clearly indicates that MiHoYo has entered the frontline of the domestic gaming industry in terms of revenue capability."
Author | First Finance and Economics Liu Xiaojie
On June 8th, according to the Guangming Daily, Shanghai MiHoYou Network Technology Co., Ltd. achieved a main business revenue of 27.34 billion yuan and a net profit of 16.145 billion yuan in 2022, with net assets of 37.402 billion yuan as of the end of 2022.
For further data, First Financial contacted MiHoYou, but they did not respond.
"The data disclosed this time indicates that MiHoYo has entered the frontline of the domestic gaming industry in terms of revenue capability," game industry analyst Zhang Shule told First Financial.
Zhang Shule believes that if Collapse: Star Dome Railway can become a real top blockbuster like Genshin Impact, the market will form a new pattern of Tencent, NetEase, Mihayou and "other" games.
What is the level of annual revenue of 27.34 billion in the gaming industry? Compared to the financial reports of the two leading companies, Tencent's total revenue from gaming business in 2022 was 170.7 billion yuan, while NetEase's revenue from gaming and related value-added services in 2022 was 74.567 billion yuan. MiHoYo's revenue is about one sixth that of Tencent and over one-third that of NetEase.
In terms of revenue scale, there is still a gap between miHoYou and the two giants Tencent and NetEase. However, compared to listed game companies Sanqi Interactive Entertainment and Century Huatong, which ranked third and fourth in revenue in 2022, MiHoYo is still significantly higher. According to the financial report, the revenue of Sanqi Interactive Entertainment in 2022 was 16.406 billion yuan, 1.6 times that of MiHoYo, and the revenue of Century HuaTong's gaming business was 8.976 billion yuan, with MiHoYo being three times that number.
Genshin Impact, the anime mobile game of Miha You, is one of the most popular games in recent years. According to the data released by Sensor Tower in January 2023, since its launch in September 2020, the total revenue of Genshin Impact on mobile platforms has exceeded $4 billion. Among them, the Chinese market contributed $1.4 billion, while the Japanese and American markets contributed $960 million and $860 million respectively.
In addition to its great success in the domestic mobile game market, Genshin Impact has become the most lucrative mobile game in the overseas mobile market for two consecutive years. Sensor Tower data shows that Genshin Impact ranked first in the overseas revenue list of China's mobile games in 2021 and 2022, surpassing Tencent's PUBG MOBILE.
In April 2022, Miha You released its latest game, Collapse: Star Dome Railway, which is a new game launched by Miha You in four years after Genshin Impact. Before the launch of the service, the number of online reservations for "Crash: Star Dome Railroad" had exceeded 30 million. On the day of its pre download on April 23, it topped the free app store list in over 113 countries and regions such as the United States, Japan, and South Korea.
According to SensorTower, within 10 days of its launch on April 26, the global revenue of the mobile game version has exceeded $0.1 billion. According to the April report of Gamma Data, the first month of "Collapse: Star Railway" is estimated to exceed 1.2 billion yuan. Zhang Shule believes that "if the first month of running water passes 1 billion, there will be the potential for top-level explosions."
"This year, with the launch of MiHoYo's" Collapse: Starry Sky Railway "and the subsequent acquisition of the" Absolute Zero "edition, it is predicted that the overall gaming industry will continue to dominate Tencent, NetEase, and MiHoYo." Previously, Jiang Xiaoxiao, Executive Director of CIC Zhuoshi Consulting, also mentioned that the overall industry valuation level will be on par with the current level of the "three giants" in the Chinese gaming industry. ".
The official account of the Publicity Department of Shanghai Xuhui District Party Committee mentioned that by the end of 2021, Miha Tour had more than 4000 employees worldwide and its revenue exceeded 20 billion yuan, of which overseas revenue accounted for more than 50%. In addition, in the 2021 Shanghai Top 100 Enterprises List, MiHoYo ranked 88th with a revenue of approximately 10.128 billion yuan in 2020, breaking through the billion yuan mark.
The success of miHoYo has also doubled the founder's value. According to the 2022 China New Fortune 500 Rich List, MiHoYo CEO Cai Haoyu made his debut on the list with a wealth of 55.35 billion yuan, ranking 73rd.
In the April 2023 Hurun Global self-made U40 Rich List released by Hurun Research Institute, the three founders of MiHoYo are all among them. Among them, 36 year old founder Cai Haoyu ranks 18th among global U40 entrepreneurs with a wealth of 21 billion yuan, while the other two founders of MiHoYo, Liu Wei and Luo Yuhao, rank 27th and 30th respectively with a wealth of 11.5 billion yuan and 11 billion yuan. The three founders have a total wealth of over 40 billion yuan.