From Breakingviews - China pulls the plug on $50 bln video-game party
A child plays the game "Honour of Kings" by Tencent at home in Dezhou, Shandong province, China July 2, 2017. Picture taken July 2, 2017. REUTERS/StringerHONG KONG, July 22 - Chinese regulators are spoiling the country's video-games party. Industry revenue fell 1.8% year-on-year to $22 billion in the six months to June, official figures show, the first-ever decline. That is probably temporary, given new game approvals are gradually resuming.
The contraction underscores the toll Beijing's regulatory onslaught has taken on the sector. In addition to a months-long freeze in approvals, restrictions on how much time and money young people can spend on games have come into force. The gamer population in what was once the world's largest market is declining, according to official estimates.
have existing titles to fall back on, plus international markets like Southeast Asia. Nevertheless, analysts at China Renaissance forecast just 6% annual overall video-game revenue growth at the company over the next two years. The party is over.
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