According to a report published by ForexSchoolOnline, Tencent’s revenue for the final quarter of 2019 was a remarkable $5.22 billion, more than Nintendo and Microsoft combined.
Nintendo, the company that once dominated the scene, came in fifth with only $2.28 billion. Other top performers included Sony, coming in second with $3.879 billion, followed by Apple at $2.88 billion and Microsoft at $2.83 billion.
Despite being a relatively unknown player on the gaming scene, Tencent owns stakes in some of the biggest games globally. These include Riot Games (League of Legends), Epic Games (Fortnite) and SuperCell (Clash of Clans) among others. It is also the operator of China’s equivalent of Steam, WeGame.
Tencent’s 200 Million Appstore Users and 1 Billion Chat App Enthusiasts
Tencent’s impressive performance comes in the wake of massive growth in the Chinese online video industry. From having a value of 2 billion yuan in 2009, the industry was worth 102.84 billion yuan in 2019. It is expected to surpass the 170 billion yuan mark by 2022.
This Chinese conglomerate is also leading the pack in sectors other than gaming. For instance, it is behind Sogou.com, China’s second largest engine after Baidu. Interestingly, visitors spend on average 28,250 seconds daily on Sogou.com and only 540 seconds on Baidu.com.
Another of its high-performing platforms is the Tencent Appstore. Currently the most popular Android third-party app store in the country, it has over 200 million active users. It is home to over 103,000 apps, 97.4% of which are free.
The brand also operates the WeChat app, as well as instant messaging service QQ, with a combined user base of over 1 billion.