While companies like Blizzard are seeing severe revenue drops this quarter and other MMO companies are trudging along, Tencent is having a rather up moment. The Chinese megacorp’s third quarter revenues boasted an 21% bump year-over-year, almost half of which can be attributed to its online games. That’s over $13B US, folks.
“Online games revenues grew by 11% to RMB28,604 million. The increase primarily reflected revenue growth from smart phone games in both domestic and overseas markets, including key titles such as Honour of Kings, PUBG MOBILE and Peacekeeper Elite, partly offset by lower revenue from PC client games such as DnF. […] Our PC client games revenues decreased 7% year-on-year and 2% quarter-on-quarter to RMB11.5 billion, due to reduced revenue from DnF, whose recent 11th anniversary content update resulted in fewer paying users than the year-ago update. League of Legends’ (LoL’s) auto-chess mode Teamfight Tactics (TFT) established global leadership in the emerging auto chess genre by leveraging the core MOBA’s strong IP and engaged user base. TFT enhanced LoL’s user time spent and increased its revenue internationally. In China, LoL’s active users and cash receipts also grew year-on-year.”
In more League of Legends-specific news, you might have noticed that yesterday the LOL community blew up over the news that US Congresswoman Alexandria Ocasio-Cortez plays the game. “I thought it was cool making it to Silver,” she tweeted. “But today I found out Rep. @JoshHarder is ranked PLATINUM!” Apparently she mains Morgana, Lux, Miss Fortune, and Anivia. So that happened.
I thought it was cool making it to Silver…
— Alexandria Ocasio-Cortez (@AOC) November 13, 2019