The Chinese gaming industry is starting to show good signs of a rebound, a Wednesday report by gaming database Gamma Data Corp. showed, marking one of the latest optimistic reveals in various sectors in the country.
According to China Daily, the report revealed that this year, the gaming market generated 233 billion yuan in revenue, accounting for an 8.7 percent hike year-on-year. Industry experts noted that the numbers indicate a recovery from the previously declining gaming sector.
Chief executive officer of the Perfect World Co Ltd games segment, Lu Xiaoyin, said the Chinese gaming industry "enjoyed rapid development during the past five years" due to the massive rise of mobile games.
Significant growth in the mobile games segment paved the way for growth in the overall gaming industry. This particular segment accounted for over 60 percent of the total games market revenues.
While growth is apparent in the gaming and games sector, Lu pointed out that gaming companies should also start adapting to new models in developing games that will suffice the Chinese consumer's demand for fresh content.
At this point, Chinese gaming enthusiasts continue to search for new genres that focus on quality and new content ideas that will keep them engaged in the long run.
Furthermore, Gamma Data said it is expecting that Chinese gaming firms to will continue expand business in foreign countries as part of the efforts to spread the word about high-quality and engaging games developed in the country.
The report also revealed that homegrown developers earned a collective $11.19 billion from their online games that were sold in foreign markets, accounting for a 16.7 percent annual increase.
It is expected that Chinese developers and gaming companies will now start eyeing deals with global providers or they will start selling mobile games to overseas customers. Several developers have already been making rounds in South Korea, the U.S., Germany, and the U.K.
Meanwhile, China's gaming circle has retained robust growth over the past few years. Nikkei Asian Review noted that there are over 5,000 gaming teams in the country. There are also around 440,000 workers in the Chinese gaming sector.
For trainees who want to become world-class gamers, around 10,000 yuan is paid on a monthly basis. Gamers who have already reached the higher ranks and those who compete in gaming clashes earn over $90,000.
For China's gaming powerhouse Tencent, the gaming market is a lucrative business that keeps growing by the year. Tencent's crown jewel offer, League of Legends, is still one of the top most played games worldwide.
On the other hand, some industry experts noted that risks remain, especially in terms of costs that come with running supper gaming teams.
