Timi Studios, owned by the Chinese tech giant, Tencent generated a revenue of USD 10 Billion in 2020 stated a news report by Reuters. The studio has created popular video games like Call of Duty Mobile and Honor of Kings. This massive revenue of USD 10 Billion will place Timi Studios in the number one spot as the largest developers in the world, according to the news report.
It will also help the gaming studio achieve their goal to move beyond mobile gaming and develop more ‘AAA’ titles for platforms like PC Gaming, Playstation, Microsoft’s Xbox, and Nintendo Switch. In a recent notice released by Timi Studios, it was announced that the company was looking to create new AAA games that resembled the virtual community from the movie Ready Player One. The Chinese based studio aims to compete with big gaming companies from countries US, Europe, Japan, and Korea.
Tencent plans to build studios for Timi, and Lightspeed & Quantum Studios, in Los Angeles. This move was made by the company in order to create more globally appealing original content. Eventually, the gaming giant aims to generate half of its gaming revenue from overseas markets.
Just a week ago, it was reported that the company recorded a total gaming revenue of CNY 156.1 Billion (USD 23.79 Billion) in 2020. Out of this, it is believed that the proceeds from Timi Studios accounted for 40 percent of the gross revenue.
While Lightspeed and Quantum studios, the developers of the popular PUBG Mobile contributed to 29 percent. Around 26 percent of its revenue came from publishing for other developers and Arora Studios Group, developers of Moonlight Blade Mobile, contributed to 3 percent of the revenue.