Tencent’s TiMi Studios generated $10 billion in revenue in 2020, two people familiar with the matter told Reuters. TiMi Studios is the developer of wildly popular titles including Pokémon UNITE, Call of Duty: Mobile, Arena of Valor, Honor of Kings, and Speed Drifters.
Sources also said that the $10 billion revenue would make TiMi the world’s largest developer.
“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.” Reuters writes.
“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 U.S.””
Tencent reported an overall game revenue of $23.79B in 2020. Sources said TiMi Studios accounted for 40% of Tencent’s game revenue.
Of Tencent’s remaining gaming revenue last year, its Lightspeed and Quantum studio, the developer of PUBG Mobile, another top-grossing game, contributed 29%, the people said to Reuters, while 26% was proceeds from publishing for other developers. Aurora Studios Group, boosted by its Moonlight Blade Mobile title, contributed 3%, the sources said.