The gaming industry in China is showing signs of recovery in the first half of 2023, with the country reaching a record-high of 668 million gamers.
Revealing Data at China Joy Conference
The data was unveiled at the 20th China Digital Entertainment Expo & Conference (CDEC), also known as China Joy, held from July 28th to 31st in Shanghai.
Steady Revenue Growth
According to the report, the actual revenue of China’s gaming industry reached a total of 144.26 billion Chinese yuan (20.23 billion USD) in the first half of this year. Despite a slight decline of 2.39% compared to the same period last year, it marks a significant increase of 22.2% compared to the second half of 2022, indicating a recovery in the sector.
Challenges and Positive Developments
Experts point out several factors contributing to the decline, including reduced consumer spending, increased marketing costs due to international conflicts, exchange rate instability, and market competition. However, China’s gaming industry has achieved many positive milestones from January to June. Mobile gaming continues to expand into international markets and dominates in various regions.
Major Overseas Markets
In the first half of the year, the United States, Japan, and South Korea remain the primary overseas markets for Chinese mobile games, accounting for 31.77%, 19.65%, and 8.5% respectively. Emerging markets, including the Middle East, Latin America, and Southeast Asia, also show an increasing presence of Chinese games. Strategy and role-playing games continue to be favored by foreign users, followed by shooting and arcade games.
Strong Growth in PC Gaming
China’s PC gaming market has also experienced strong growth in the first six months of 2023. Actual revenue increased by 7.17% compared to the same period last year, reaching 32.94 billion Chinese yuan. Experts attribute this growth to booming exports, games with animated designs, and successful simultaneous releases for mobile platforms.
Arcade Games and In-App Purchases
Another highlight is the arcade games in China, with in-app purchase revenues surging by 135.4% compared to the same period in 2022, reaching 10.87 billion Chinese yuan from January to June 2023. Experts note that this strong growth signifies changing business models and profitability in the gaming industry, showing promising signs for China’s gaming sector.
With continuous growth and promising developments, China’s gaming industry remains a dominant force in the global gaming market.