The Chinese gaming industry is witnessing a decline in revenues domestically and internationally
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According to a recent gaming industry report issued by Gamma Data, a strategic partner of the Chinese Game Industry Research Institute, the actual revenue of the domestic gaming market in the third quarter of 2022 AD was 59.7 billion yuan, a year-on-year decrease of 19.1%. The growth rate of the domestic gaming market has slowed significantly despite a slight increase during the height of the epidemic. In the third quarter of 2022, foreign revenues decreased by 3.9% compared to the second quarter. The third quarter is usually the peak season for the gaming industry, when students are absent for the summer vacation. Chinese companies may still be looking to develop IP games for market opportunities.