Xbox Teams Up With Tencent’s ‘Honor of Kings’ Maker TiMi Studios
TiMi Studios, one of the world’s most lucrative game makers and is part of Tencent’s gargantuan digital entertainment empire, said Thursday that it has struck a strategic partnership with Xbox. Established in 2008 within Tencent, TiMi is behind popular mobile titles such as “Honor of Kings “and “Call of Duty Mobile.” In 2020, “Honor of Kings” alone generated close to $2.5 billion in player spending, according to market research company SensorTower. In all, TiMi pocketed $10 billion in revenue last year, according to a report from Reuters citing people with knowledge. Chinese console players often resort to grey markets for foreign editions because the list of Chinese titles approved by local authorities is tiny compared to what’s available outside the country. But these grey markets, both online and offline, are susceptible to ongoing clampdown. Most recently in March, product listings by multiple top sellers of imported console games vanished from Alibaba’s Taobao marketplace. Read more TechCrunch
The US Economy, Starting With Hollywood and Education, Needs China to Build Back Better
Continued trade with China will be crucial to the US’ economic recovery. Saving jobs in Hollywood and US universities, for example, depends on maintaining strong ties. Although the US is recovering from the pandemic, there is still a long way to go. Unemployment is significantly down from its peak one year ago, but 4 million more Americans are unemployed today than in February 2020. Just as openness to trade with China helped the US weather the pandemic last year, continued trade with China will be crucial to building back the American economy. Take the entertainment industry. In 2019, US films accounted for 30 per cent of China’s US$9.2 billion in box office sales. Big Hollywood hits can bring in hundreds of millions of dollars from Chinese film-goers. “The Fate of the Furious,” released in 2017, made over US$390 million from China alone – almost one-third of its global gross. Read more South China Morning Post
