China's Licensing Boom Amid Black Myth: Wukong's Success in Video Gaming
China's Gaming Industry Sees Major Licensing Approvals
This month, China's National Press and Publication Administration (NPPA) has approved 117 video games, marking the largest batch of licenses granted in 2024, with enthusiasm surrounding Black Myth: Wukong sweeping the industry. Leading titles such as Tencent Holdings' Yirenzhixia, NetEase's Jiewai Kuangchao, and productions from Alibaba Group's Huangyuan Shuguang have secured domestic release licenses.
Growth in the Chinese Market
- 850 domestic titles licensed in the first eight months of 2024 compared to 609 in the same period of 2023.
- Approval surge signifies recovery since the licensing freeze was lifted in April 2022.
Impact of Black Myth: Wukong
Black Myth: Wukong, developed by Tencent-backed Game Science, is based on the classic Chinese tale Journey to the West. The game broke records by selling over 10 million copies within three days of its launch, available on platforms such as Sony Interactive Entertainment's PlayStation 5 and Steam. The reception indicates a promising outlook for consumer spending, which Newzoo projects could soar to $45 billion in 2024.
Conclusion on Future Trends
With the recent licensing approvals and Black Myth: Wukong's overwhelming success, the trajectory for other game developers looks bright, as the industry prepares to capitalize on this newfound momentum.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.