Trend of Chinese Game Overseas Revenue in the Last 6 Years (2018-2023)

Overall Trend

The overseas revenue of Chinese game exports over the past six years (2018-2023) shows an inverted V-shaped pattern. According to Gamma Data and the China Game Industry Report, overseas revenue was approximately $9.51 billion in 2018, climbing steadily to a peak of $18.01 billion in 2021. It then declined to $17.35 billion in 2022 and further to $16.37 billion in 2023, a year-on-year decrease of 5.6%.

Stage Characteristics

• 2018-2019: Revenue grew from $9.51B to $11.1B, an increase of about 16.8%, driven by breakout genres like SLG and battle royale in Western markets.
• 2020: Pandemic tailwinds pushed revenue to $15.45B, surging 39.2% YoY, boosted by blockbusters such as Genshin Impact (open-world, anime style).
• 2021: The peak at $18.01B saw slower growth of 16.6%, with rising user acquisition costs and market saturation.
• 2022-2023: Two consecutive years of decline due to global macroeconomic headwinds, privacy policy changes (e.g., IDFA), higher localization barriers, and intensifying competition in emerging markets (Southeast Asia, Latin America).

Localization & Publishing Insights

• Language & Culture: Beyond English, deep localization (Arabic, Japanese, Korean) is critical for markets like Japan, Korea, and the Middle East.
• Compliance: GDPR in Europe, Korea's Game Industry Promotion Act, and other regulations require legal localization.
• Channels: Besides Google Play and App Store, consider third-party stores (Huawei AppGallery, Xiaomi GetApps) and partnerships with local publishers.
• Long-term Operations: Shift from heavy UA to content + community models to improve retention and LTV.

Source: Gamma Data, China Game Industry Report. 2023 figures are preliminary.