IP based games developed by Chinese companies brought in revenue of 129.5 billion in 2019 on mobile gaming platforms. The Chinese gaming industry was expected to bring increased revenue in 2020, according to reports from research and analysis.
IP games gained their popularity in early 2014. They were conceptually developed using intellectual properties such as characters from books, mythology, and history. From unique world setting based and inspired by other movies, novels, and comic series. This unique source of entertainment boosted the growth of the Chinese gaming industry.
There was a 33.2% growth in revenue in the IP-based mobile gaming industry in 2019 to 129.5 billion Yuan. The industry is analyzed and predicted to bring in more growth at a very high rate in the coming five years. As the report of 2020 is to be released next year, current analysis is predicting a stable growth of 15.8%, leading to revenue of 150 Billion Yuan due to worldwide lockdown due to the global pandemic of COVID-19. And then again, see stable growth of 13.2% in the year 2021 in IP-based gaming revenue.
From the data, it could be seen the growth rate of 2020 is slightly greater than the prediction of 2021. As in 2020, we are predicted to see a growth in revenue of 15.8% and in 2021 a growth of revenue of 13.2%. This increased growth in the Chinese gaming market is completely due to the worldwide lockdown, and people are consuming these IP-based games as a prime source for their entertainment.
In addition to bringing in induced revenue, the IP-based mobile gaming industry has been successful at luring in players and retaining their attention throughout a longer period of time in comparison to other sources of entertainment.
Companies like CMGE Technology Group, Perfect World, and Tencent are specialized in the market for developing IP-based games. For instance, CMGE holding 99 gaming IPS in 2019, was surpassed by Tencent. The company is also expected to develop and produce 38 new games in 2020. Competing with highly profitable IPs like “Jade Dynasty” and “Perfect World” held by Perfect World.