Revenue Growth Trend of Chinese Overseas Apps Over 6 Years: From $8B to $21.3B

Overall Trend

Based on estimates from Sensor Tower, Data.ai and other sources, the revenue of Chinese overseas apps experienced strong growth over the past six years (2018-2023). Total revenue increased from approximately $8 billion in 2018 to $21.3 billion in 2023, representing a compound annual growth rate (CAGR) of about 21.6%.

Key Drivers

• Mobile games remain dominant: Revenue from Chinese mobile games overseas grew from about $6.1 billion in 2018 to $16.3 billion in 2023, accounting for roughly 76% of total revenue. Titles such as Genshin Impact, PUBG Mobile, and Call of Duty: Mobile consistently generated high sales.
• Rise of non-game apps: Short video (TikTok), social entertainment (Bigo Live), and utility apps (SHAREit) gained traction, contributing about $5 billion in 2023, or 24% of total revenue.
• Pandemic boost: During 2020-2021, a global surge in online spending drove Chinese overseas app revenue to a peak of $18 billion in 2021, a 50% year-on-year increase.
• Diversified monetization: Shifting from ad-only models to a mix of in-app purchases (IAP) and ads. Top games rely on IAP for >80% of revenue, while non-game apps lean on ads and subscriptions.

Regional Distribution

• North America and Europe: Remain the largest contributors, together accounting for about 55% of revenue, though growth has slowed.
• Southeast Asia and the Middle East: Emerging markets show faster growth, especially for social entertainment and e-commerce apps.
• Latin America and Africa: Smaller bases but rapidly increasing penetration of content apps like TikTok.

Future Outlook

The industry expects growth to decelerate to 15-20% in 2024-2025. However, with AI tools, expansion into new markets, and cross-platform strategies, there is still significant upside for Chinese overseas app revenue.