Despite strong year-end results, Tencent is not satisfied with its performance. In the future, the Chinese giant will focus more on its own games and less on third-party IPs.
Tencent shifts strategy to focus on own IPs.Tencent Holding
Tencent generated revenues of 609 billion yuan (78 billion euros) across all its businesses in 2023, up ten percent from 2022. The domestic games segment brought in 126.7 billion yuan (16.3 billion euros), up two percent year-on-year. The international games segment reached 53.2 billion yuan (6.8 billion euros), up 14 percent year-on-year. This means that almost 30 percent of games revenue came from international business, mainly from PUBG Mobile and Valorant. Despite this, revenue in the fourth quarter of 2023 was down slightly year-on-year.
Tencent generated revenues of 609 billion yuan (78 billion euros) across all its businesses in 2023, up ten percent from 2022. The domestic games segment brought in 126.7 billion yuan (16.3 billion euros), up two percent year-on-year. The international games segment reached 53.2 billion yuan (6.8 billion euros), up 14 percent year-on-year. This means that almost 30 percent of games revenue came from international business, mainly from PUBG Mobile and Valorant. Despite this, revenue in the fourth quarter of 2023 was down slightly year-on-year.
