Sources tencent timi honor kings call 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.” 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. The $10 billion would make Timi the world’s largest developer, the sources say, which many industry watchers had suspected to be the case.
Last month, the Shenzhen-based gaming giant joined a new funding round of Tokyo-based cloud gaming technology and services provider Ubitus in a demonstration of its growing bet on cloud gaming that enables people to play games anywhere there is an internet connection.NEW DELHI: Chinese tech giant Tencent‘s Timi Studios, maker of popular video games Honor of Kings and Call of Duty Mobile, generated revenue of $10 billion last year, two people with direct knowledge of the matter told Reuters. In recent years, Tencent has beefed up its investment in the global gaming industry by buying stakes in world-famous video game developers such as U.S.-based Epic Games and Japan’s Marvelous. Tencent has been building its overseas studios with the goal of deriving half of its game revenue from overseas, compared with 23% in the fourth quarter of 2019, the most recently available figure. Timi appears to be aiming high as it launches a recruitment drive for a new AAA game that resembles the virtual community in the movie Ready Player One, in a challenge against heavyweights from Japan, South Korea, Europe and the U.S., according to Reuters. According to SensorTower, PUBG Mobile pocketed $2.7 billion in revenue in 2020, bringing the title’s lifetime revenue to $5.1 billion since its release in 2018. The sources said that Timi’s proceeds accounted for nearly 40% of Tencent’s total online game revenue for 2020, which reached $24 billion, with about 29% coming from Tencent’s Lightspeed & Quantum Studio, which develops the popular mobile game PUBG Mobile. In comparison, Activision Blizzard, which publishes the Call of Duty’s franchise, reported revenue of $8.09 billion last year. The staggering earnings makes Timi the world’s largest game developer, Reuters reported on Friday, citing sources familiar with the matter.
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