Shanghai-based game company miHoYo has achieved a revenue of $855 million in 2021, more than the revenue total of the last three years, thanks to the outstanding success of Genshin Impact.
According to Sensor Tower data, Genshin Impact enjoyed the largest international launch ever for a Chinese-made game. Just two months after its launch in September 2020, Genshin Impact has generated $400 million in revenue on Google Play and the App Store.
Moreover, the mobile game drove huge sales and headcount growth for its developer, miHoYo. In 2015, the company generated annual revenue of $13.5 million. Just one year later, this figure has doubled to $26.7 million, and this rise has continued at a rapid pace. Statistics show that by 2019, miHoYo’s annual revenue increased 500% to $162.2 million. But that was nothing compared to the 2020 and 2021 figures.
After the launch of Genshin Impact, the company’s annual revenue has more than tripled, reaching $546.5 million last year. Impressive sales continued into 2021, with the games company generating $885.6 million in IAP revenues for eight months of the year, almost $340 million more than the full year 2020.
The fast-rising title became the second most revenue-generating mobile game
Since the launch of Genshin Impact, miHoYo has attached great importance to regularly adding new content and characters to the game to keep players engaged. Such an approach has resulted in an increase in the number of Genshin Impact players, with the game reaching impressive download numbers even before its first anniversary. According to AppMagic data, the game has been downloaded approximately 4.5 million times each month since its release, with total downloads reaching 70 million in August this year.
Statistics show that the anime-style action RPG has around 4.5 million monthly active users, with more than half of them using the iOS version of the game. Such a large user base continues to generate impressive revenues.
In less than a year since its launch, Genshin Impact has become the fastest-growing mobile gaming app with over $1 billion in player spend worldwide. It also ranked as the #2 revenue-generating mobile game worldwide, following Tencent’s PUBG Mobile and topping hits like Pokémon GO and Roblox.
Statistics show that in the first nine months of the year, the game grossed $923 million worldwide, $10 million more than Tencent’s Honor of Kings and $200 million more than Roblox or Pokémon GO.