Pixel P&L: Mobile Game Revenue Soars, Downloads Sink
Mobile gaming revenue reached record highs in 2024, even as downloads declined, according to Sensor Tower's newly released State of Mobile 2024 report. Today's Pixel P&L delves into the report's findings and other industry developments including Sony YAY!'s expansion in licensing and merchandising, Tencent's efforts to broaden the Honor of Kings universe, and San Diego Comic-Con’s international push.
Mobile Games Revenue Climbs to $80.9 Billion in 2024 Despite Download Decline
Global mobile game revenue climbed to $80.9 billion in 2024, marking a 4% increase from the previous year, according to Sensor Tower's State of Mobile 2024 report. However, game downloads fell 6% year-over-year to 49.6 billion. Turkey emerged as the fastest-growing market with a 28% increase in consumer spending, followed by Mexico (21%), India (17%), Thailand (16%), and Saudi Arabia (14%). Japan, meanwhile, saw a 7% decline due to economic and currency pressures.
By genre, strategy games led global spending with just under 10% of the total, driven by Last War: Survival. Match Swap Puzzle games, including Royal Match, accounted for 8.67% of spending, followed by Squad RPGs (6.14%), MMORPGs (5.59%), Casino Slots (5.37%), Coin Looters (5.14%) and Battle Royale games (3.05%)
Four titles including Dungeon & Fighter, Whiteout Survival, Last War, and Brawl Stars surpassed $1 billion in In-App Purchase (IAP) revenue in 2024.
Sony YAY! Expands Licensing Business Amid Rising Demand for Anime Merchandise
Sony YAY! is expanding its licensing and merchandising business as it seeks to tap into the rising demand for character-driven products. The division has seen 100-120% year-over-year growth and now contributes a double-digit share to the company’s bottom line, according to Business Head Ambesh Tiwari in an interview with Financial Express.
Popular anime properties such as Naruto and Shin Chan have played a key role in driving this growth, with Sony YAY! securing merchandise partnerships with major brands like Reliance and Tata Group. The company is also investing in experiential marketing initiatives, including the Giant Reel Festival, and has plans to launch India’s first anime festival to further promote its intellectual properties.
⚡Quick Bytes
Tencent Expands Honor of Kings Universe with New Hero Shooter
Currently in early development, the game is being built using Unreal Engine 5 by TiMi Studios’ L1 Studio. The project aligns with Tencent’s strategy to expand Honor of Kings beyond MOBA and action genres. While details remain limited, the game is targeting a global launch. TiMi Studios is actively recruiting talent in Chengdu to support the game's development.
San Diego Comic-Con Expands Overseas with Malaga Debut in 2025
San Diego Comic-Con will expand internationally for the first time in its 50-year history, with Malaga, Spain hosting the event from September 25-28, 2025. The four-day convention will feature panels, exhibitions, and celebrity appearances, offering European fans easier access to the iconic pop culture event.
Amazon Games Montreal Developing AAA MOBA in Unreal Engine 5
The studio, which is currently hiring for multiple roles, aims to create a fresh intellectual property in the competitive MOBA genre. Amazon Games has been expanding its gaming portfolio, and this new project marks its latest push into multiplayer experiences.
💡Did You Know
The late Matthew Perry’s fondness for Fallout 3 went far beyond casual gaming. The Friends actor played the popular RPG so intensely that he developed carpal tunnel syndrome, requiring a visit to what he described as a "hand doctor." Perry later shared his enthusiasm for the game on The Ellen DeGeneres Show, where he gifted the host a signed copy of Fallout 3. His passion ultimately secured him the role of Benny, the main antagonist in Fallout: New Vegas, creating an unexpected link between Perry and the beloved gaming franchise.
📜Quote of the Day
"Memories of life, with all its emotions, its twists and turns, its joys and pains, become like a story to be told. It is this story that makes each person who they are."
Iovara, Pillars Of Eternity
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