What sets Tencent apart from these corporations is its size and ubiquity across industries, with investments that include social media, games, television, cinema, music, e-commerce, medical technology, and comics.
Of course, Tencent is far from the only tech giant looking to build a macrocosm of virtual services and environments NetEase, Epic Games, and Facebook’s parent company Meta, among others, are all gunning to forge their own hyperconnected virtual worlds. what sets Tencent apart from these corporations is its size and ubiquity across industries. Tencent is far from the only tech giant looking to build a macrocosm of virtual services and environments. Codenamed “F1,” this studio will span across China, the United States, Canada, and Singapore, and it’s the company’s first team under a new “Future” label. The firm has begun laying the foundation of this project, with one of its first steps being founding a new studio under one of its gaming subsidiaries, TiMi Studio Group. To Tencent, that path can be chartered via a mix of video games and a gamified social media experience - or a real world experience that’s supplemented by both augmented reality and virtual reality. During the tech behemoth’s third-quarter results earning call in 2021, its usually reticent CEO, Pony Ma Huateng, spoke about the company’s vision for the metaverse, saying that Tencent currently has the resources to develop its version of the idea. And as one of the largest tech conglomerates in the world, it also wants to build the metaverse - to construct a sprawling, digital universe that doubles up as a diverse gaming platform, made up of various IPs. And with a growing presence internationally, we recently decided to take a closer look at how it operates and what it owns.īeginning with Riot Games in 2011, Tencent has been steadily acquiring an extensive portfolio of international game studios. It’s also China’s - and the world’s - biggest game company. And with Tencent Music, it also owns the majority of China’s music services, with 841 million active users.
It’s the behemoth that created QQ.com, one of the country’s largest web portals and the world’s fourth most visited website. It’s behind the nation’s most popular messaging app, WeChat, with over 1.2 billion monthly active users. While its size and acquisitions have made frequent headlines, its presence has remained understated relative to competitors like Amazon and Google, with the name occasionally peppered into conversations as an example of China’s burgeoning influence on technology and entertainment around the world.īut in China, Tencent is everywhere. It is now looking to take those learnings and create high quality games for a global audience that are accessible to all players, regardless of he platform they play on," he said.In the West, tech giant Tencent is not yet a household name. "Timi has been able to successfully operate these mobile games over the long term. Timi is also the developer of Pokemon Unite, Arena of Valor, Speed Drifters, and others.Īccording to analyst Daniel Ahmad, Timi is firing on all cylinders right now and is looking to expand to create games for a global audience. Retuers said Tencent's plan is to eventually have half of its game revenue come from overseas markets currently, this figure stands at 23% for the latest period. The studio recently hired Scott Warner-a games industry veteran who worked on the Halo and Battlefield franchises-to head up its new Los Angeles studio. In any case, Timi is looking to grow to become a company with even more global appeal. It also bears mentioning that the $10 billion comes from Timi Studios alone, not Tencent's other internal studios like Lightspeed & Quantum Studios, the team that makes the wildly popular PUBG Mobile. But it seems Reuters is saying $10 billion in revenue for a single studio is what is the record.
Companies like Activision Blizzard-the owner of Call of Duty- and the parent company of the main series' developers-make more money annually than that. It's not exactly clear what "largest" means here. And that's all without really being a household name. Sources told Reuters that Timi Studios made $10 billion in revenue last year, which makes it the "world's largest developer," according to the report. Timi Studios, the game developer behind both Call of Duty Mobile and Honor of Kings, had a banner year in 2020.
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