Last week, Tencent reported CNY 156.1 billion (roughly Rs 1.74 lakh crores) in overall online game revenues for 2020 but did not break down revenue for individual studios, which are run independently and compete with each other. Such games feature long sessions and in-depth storytelling or battles, with some including multiplayer online role-playing or online battle arenas. Many major studios are turning to Tencent for support to convert their “hardcore” desktop or console games to mobile.
Tencent aims eventually to derive half its game revenue from overseas, from 23 percent in the fourth quarter of 2019, the most recently available figure.
#Timi studios movie
In a recruitment notice last month, a Timi engineer wrote that the company aims to create a new AAA game that resembles the virtual community from the movie Ready Player One, and will “compete head-to-head against big powers from Japan, Korea, Europe, and US.” Tencent is building studios overseas, including one for Timi and one for Lightspeed and Quantum, both in Los Angeles, with the goal of creating content with original intellectual property that has global appeal. It also provides a hefty basis for its ambitions to move beyond mobile games and compete directly with global heavyweights developing expensive “AAA” titles on platforms such as desktop computers, Sony’s PlayStation, Nintendo’s Switch, and Microsoft’s Xbox. It is not known as to what metric they have used to determine this.
The $10 billion would make Timi the world’s largest developer, the sources told Reuters, which many industry watchers had suspected to be the case. Chinese tech giant Tencent’s Timi Studios, maker of popular video games Call of Duty Mobile, generated revenue of $10 billion (roughly Rs 73,400 crores) last year, two people with direct knowledge of the matter told Reuters.
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