Tencent’s Timi Studios posted $10 billion in revenues in 2020 to cement itself as the world’s largest developer, according to Reuters.
- Two people with direct knowledge of the matter said the revenue growth will make Timi the world’s biggest developer, with popular video games Honor of Kings and Call of Duty Mobile.
- In March, a Timi engineer said the company aims to create a new “AAA” game that resembles the virtual community from the movie Ready Player One. This will compete with players from Japan, Korea, Europe, and the United States.
- Tencent is building a studio for Timi in Los Angeles in an effort to create original content with a global appeal. Another one is being built for Lightspeed and Quantum.
- Tencent last week reported 156.1 billion yuan in overall online game revenues for 2020, of which the two sources said Timi accounted for 40%. Revenues rose 29% to 29.1 billion in the fourth quarter.