Music Ally’s report this week – published yesterday – included a look at how the Chinese music market is evolving.
But there’s another entertainment sector booming there at the moment: games. Research firm IHS Markit put out its latest predictions for the Chinese games industry yesterday, and the figures are impressive indeed.
It expects the Chinese games market to be worth $25.6bn in 2016, including $13.1bn spent on PC games and $12.4bn on mobile games – up 5% and 55% year-on-year respectively, so mobile will likely overtake PC in 2017.
By contrast, console games only made $53m last year in China. IHS notes that China now accounts for 25% of global games revenues, and by far the largest individual market for both PC and mobile games – in both cases dominated by in-game purchases.
And the biggest beast in this market is a familiar name: Tencent, thanks to its operation of PC games like League of Legends and mobile games like Honor of Kings – with ambitions to make the latter as big a hit in the world of eSports as the former.