Chinas Tencent and ByteDance lead global app sales

China’s Tencent and ByteDance lead global app sales

In the first half of 2022, Tencent and ByteDance became the world leaders in mobile app revenue. The Chinese tech giants retain a lot of influence despite Beijing’s tough regulatory measures.

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The leader in gaming and non-gaming mobile revenue was Tencent, which brought in $4.4 billion in the first six months of this year, mostly from its hits Honor of Kings and PUBG Mobile. The second was Beijing-based ByteDance, whose revenue for the same period totaled $1.3 billion – due to the TikTok short video service’s high popularity, reports SCMP with a link to SensorTower data. Tencent’s revenue from gaming projects reached $2.6 billion, accounting for nearly 10% of the total US gaming app market valued at $27 billion.

SensorTower analysts showed the power of the big players in the gaming market: 1% of developers or 460 companies occupied 93% of the market, while the remaining 46,000 companies took the remaining $1.9 billion and 900,000 Game developers struggled Non-gaming applications made their way into the SensorTower stats. In the first half of the year, the top 1% accounted for 72 billion installs on the Apple App Store and Google Play Stores, or 79% of the total – the remaining 99% of publishers had to share 21% of the installs among themselves.

Despite the huge influence the 1% continues to enjoy, the dominance of the giants has waned over the past three years, explains SensorTower analyst Justin Cruz. And negative macroeconomic factors also forced non-core developers to enter the gaming market, with Netflix and ByteDance being the most notable examples. As for the Chinese gaming giants, official Beijing has forced them to expand foreign assets due to policy tightening: Tencent increased its stake in Ubisoft and NetEase acquired Quantic Dream – before that, the new projects of both Chinese companies had not been by the Chinese regulators tested .

About the author

Alan Foster

Alan Foster covers computers and games and all the news in the gaming industry.

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