This is a lot of money
TiMi Studios, Tencent’s proprietary developer of major mobile hits Call of Duty: Mobile and the MOBA Honor of Kings, grossed an impressive $ 10 billion in revenue in 2020, according to a Reuters report on April 1.
The Reuters article says that these gains make TiMi the “biggest developer in the world”, according to its sources. Although it is not clear exactly which metric you are defining, it is undoubtedly a huge number. For comparison, Activision Blizzard (which publishes the Call of Duty franchise) posted revenues of $ 8.09 billion in 2020, almost $ 2 billion less than reported by TiMi at $ 10 billion.
Although TiMi may not be a household name, its games are some of the largest in the world. Call of Duty: Mobile reportedly had the biggest mobile game launch of all time when it launched in October 2019, accumulating over 100 million downloads worldwide in its first week of availability. And Honor of Kings, which is only available in China, had an astonishing 100 million daily active users in November 2020, according to Tencent.
It doesn’t look like Tencent and TiMi will be resting on their laurels. TiMi is recruiting for a new AAA game that “resembles the virtual community of the Ready Player One movie,” reports Reuters, which seems to suggest that TiMi wants to make his own game look like a metaverse in the Fortnite and Roblox line. Tencent is also building a TiMi studio in Los Angeles, according to Reuters.
Tencent has long-standing investments in some US-based gaming companies. It bought the majority stake in League of Legends developer Riot Games in 2011 and then full ownership in 2015. And Tencent bought 40 percent of Epic Games in 2012, a stake that grew significantly in value after the huge success for Epic’s Fortnite.
Tencent also owns the Lightspeed & Quantum studio, which develops PUBG: Mobile. That game was also a smash hit and just crossed over 1 billion downloads worldwide.