Inspired By Alibaba, Tencent Goes Global As Regulatory Crackdown In China Continues To Bite

  • Tencent Holdings Ltd TCEHY looks to unleash its flagship mobile game "Honor of Kings" globally by the end of 2022, Reuters reports
  • Tencent will launch the international version under its Singapore-based brand Level Infinite, formed in 2021 to help games globally.
  • "Honor of Kings," with over 95% of its users in China, ranked as the world's top-grossing game in April with more than $274 million in player spending, up 6.2% year on year.
  • Tencent's multiplayer action game generated $10 billion in revenue between its 2015 launch and September 2021.
  • China stopped issuing gaming monetization licenses in China in July 2021 to contain teenagers' addiction to games. 
  • The latest batch of 60 game licenses did not include Tencent.
  • Tencent missed the Q1 consensus as domestic revenue declined by 1%.
  • Alibaba Group Holding Limited BABA and other Chinese companies also explored international expansion as regulatory crackdowns weighed on the stocks.
  • China's top economic official recently hinted toward possible ease in the ongoing crackdown on digital platform companies.
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