Tencent Scores Big with ‘Dungeon and Fighter’ Mobile Game After Drought

HONG KONG (Reuters) – Tencent Holdings, the Chinese internet titan, hit the jackpot with its new mobile game “Dungeon and Fighter,” which soared to the top of Apple’s App Store in China this week. This success comes after years of searching for a new flagship title.

Developed by South Korea’s Nexon and published by Tencent, the side-scrolling action game shot to the number one spot in China shortly after its May 21 launch and has held strong since, according to Appmagic, an app tracking platform.

While Tencent’s “Honor of Kings” and “Peacekeeper Elites” have long dominated China’s gaming scene, they have recently seen declining revenues as their popularity waned.

Globally, “Dungeon and Fighter” mobile ranked as the second top-selling app last week, trailing only behind TikTok and ahead of “Honor of Kings” and YouTube, according to Appmagic.

The game is estimated to have generated over $40 million in revenue from Apple devices alone, with more than 2.4 million downloads, Appmagic reported.

Robin Zhu, senior analyst at Bernstein, confirmed that these figures align with data from another app tracking firm, Sensor Tower. However, he noted that the game’s actual revenue is higher as the reported $40 million excludes Apple’s share.

“In terms of gross billings, Sensor Tower data suggests receipts of between 1.2 to 1.5 billion yuan ($206.95 million) since launch,” he said. Gross billing refers to the total amount spent by users on the game.

Zhu added that “Dungeon and Fighter” mobile is on pace to meet Nexon’s forecast of gross billings totaling 3 billion yuan in its first month.

Officially titled “Dungeon and Fighter: Origin,” the game is a mobile adaptation of the immensely profitable “Dungeon and Fighter” PC game, also published by Tencent.

The game, which took seven years to develop, was a smash hit upon its 2022 release in South Korea. However, its launch in China was delayed due to government crackdowns on the gaming industry between 2018 and 2022.

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