--- title: "WanLian Security: The effect of the Spring Festival holiday combined with the outstanding performance of new products led to a 27.65% year-on-year growth in the gaming market in January" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/233046946.md" description: "WanLian Securities released a research report stating that in January 2025, China's gaming market revenue increased by 27.65% year-on-year and 7.54% month-on-month. The effect of the Spring Festival holiday and the performance of new products have driven an increase in market activity. It is recommended to pay attention to leading companies with abundant license reserves, strong R&D capabilities, and high-quality products. The global mobile gaming market also achieved year-on-year and month-on-month growth, with leading Chinese companies like Tencent and NetEase maintaining a dominant position in the market" datetime: "2025-03-25T02:57:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/233046946.md) - [en](https://longbridge.com/en/news/233046946.md) - [zh-HK](https://longbridge.com/zh-HK/news/233046946.md) --- > 支持的语言: [English](https://longbridge.com/en/news/233046946.md) | [繁體中文](https://longbridge.com/zh-HK/news/233046946.md) # WanLian Security: The effect of the Spring Festival holiday combined with the outstanding performance of new products led to a 27.65% year-on-year growth in the gaming market in January According to the Zhitong Finance APP, WanLian Securities released a research report stating that in January 2025, China's game market revenue increased by 27.65% year-on-year and 7.54% month-on-month; global market revenue rose both year-on-year and month-on-month, with leading Chinese companies maintaining stable performance. The domestic game industry policy environment in 2025 is stable, with the issuance of licenses maintaining a normalized state. The domestic market and self-developed games' overseas revenue are steadily growing, and the overall market outlook is positive. The firm recommends focusing on leading companies with rich license reserves, strong R&D capabilities, and high-quality products. ## WanLian Securities' main viewpoints are as follows: **China's Game Market: January 2025 game market revenue increased by 27.65% year-on-year and 7.54% month-on-month** 1. Overall game market in China: Actual sales revenue reached 31.077 billion yuan, an increase of 7.54% month-on-month and a rise of 27.65% year-on-year. 2) Mobile game market: Actual sales revenue was 22.970 billion yuan, an increase of 7.75% month-on-month and a rise of 29.87% year-on-year. Due to the Spring Festival holiday being moved to January, major games launched their Spring Festival activities closely, enhancing user activity. At the same time, new products like "Yan Yun Shi Liu Sheng" performed well, combined with the stable performance of long-term products, resulting in multiple terminal markets in the game industry achieving both month-on-month and year-on-year growth this month. **Global Game Market: Market revenue rises both year-on-year and month-on-month, with leading Chinese companies maintaining stable performance** In January 2025, global mobile game players paid $7.27 billion on the App Store and Google Play, a year-on-year increase of 4.00% and a month-on-month increase of 4.15%, with the U.S., China, and Japan accounting for the top three revenue shares; in January, a total of 34 Chinese companies made it to the global mobile game publisher revenue list TOP 100, with a total revenue of $2.33 billion, accounting for 39.20% of the total revenue of TOP 100 publishers; in January, Tencent topped the list of Chinese mobile game publishers, followed by NetEase and DianDian Interactive in second and third place. **Ranking: Game revenue list shows head monopoly, Tencent's games perform excellently** In January, among the TOP 10 game revenue rankings on the App Store for iPhone in China, Tencent occupied 7 slots, maintaining a dominant market position. The top three in the revenue ranking are Tencent's "Honor of Kings," "Peacekeeper Elite," and "Crossfire: Gunfight King." **Overseas: Revenue from self-developed games overseas increases** In January, the actual sales revenue of China's self-developed games in the overseas market was $1.675 billion, a month-on-month increase of 2.72% and a year-on-year increase of 28.65%. miHoYo's "Genshin Impact" saw its overseas revenue double, reaching a near two-year high, ranking second on the list. **Risk Factors:** Stricter regulatory policies, license issuance falling short of expectations, delays in new game launches and performance not meeting expectations, new game revenue not meeting expectations, increased risks in overseas business, and goodwill impairment risks ### 相关股票 - [Tencent (TCEHY.US)](https://longbridge.com/zh-CN/quote/TCEHY.US.md) - [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/zh-CN/quote/TCTZF.US.md) - [TENCENT (00700.HK)](https://longbridge.com/zh-CN/quote/00700.HK.md) - [miHoYo (miHoYo.NA)](https://longbridge.com/zh-CN/quote/miHoYo.NA.md) - [Apple (AAPL.US)](https://longbridge.com/zh-CN/quote/AAPL.US.md) ## 相关资讯与研究 - [Tencent (TCEHY) Brings AI Agents to WeChat's 1 Billion Users as Alibaba and Baidu Race Ahead](https://longbridge.com/zh-CN/news/280061085.md) - [East Side Games Group Shifts From Aggressive Growth to Profitability After Challenging 2025](https://longbridge.com/zh-CN/news/281274674.md) - [Feiyu Technology Unit Enters Game Business Cooperation Agreement with Tencent Subsidiary](https://longbridge.com/zh-CN/news/281529384.md) - [IP Strategy Highlights Verse8’s $5M Raise as AI-Native Game Creation Enters the $200B Global Gaming Market | IPST Stock News](https://longbridge.com/zh-CN/news/281377499.md) - [Rule Breaker Investing: 2026 March Market Cap Game Semifinals](https://longbridge.com/zh-CN/news/281194661.md)