Analysis of Revenue Growth Trend of Chinese Mobile Games Overseas (2019-2024)

Overall Trend

According to industry estimates, the total overseas revenue of Chinese mobile games from 2019 to 2024 shows an "inverted V" shape: first rising rapidly, then slightly declining, and finally stabilizing and rebounding.

• 2019: About 11.5 billion USD, gradually opening up markets in Southeast Asia, Japan/Korea, and Europe/America.
• 2020: Pandemic dividends boosted revenue to about 15.5 billion USD, with the stay-at-home economy effect significant.
• 2021: Reached a peak of about 18 billion USD, driven by hit titles like Genshin Impact.
• 2022: Fell to about 17 billion USD due to global inflation, privacy policy changes, and intensified competition.
• 2023: Further declined to about 16.5 billion USD, but mid-core and casual games performed well.
• 2024: Expected to rebound to 18 billion USD, with emerging markets (Latin America, Middle East) and AI technology empowering new growth.

Key Drivers

• Genre Diversification: SLG and RPG remain dominant, while casual, social casino, and hybrid casual are rising rapidly.
• Regional Expansion: US, Japan, and Korea contribute over 60% of revenue; Middle East and Latin America shares increase yearly.
• Channels & UA: Google Play and App Store remain main channels, but TikTok and other new ad platforms add increments.

Challenges & Risks

• Policy Compliance: Stricter data privacy and minor protection regulations across countries.
• Intensified Competition: Rise of local developers (e.g., South Korea, Turkey) and product homogenization.
• Currency Fluctuation: Strong USD affects revenue conversion; local currency depreciation in some markets squeezes profits.

Future Outlook

After 2025, with AI tools lowering dev costs, cloud gaming adoption, and improved localization, overseas revenue may maintain 5%-10% annual growth, but growth rate will slow down due to high base.