Insider Gaming Network
flag
flag
flag
Mike Straw·
News
··1 min read

Tencent Is Worried About Its Future In Gaming

tencent gaming

Tencent, the world’s largest gaming company, is worried about its future in the industry.

In a speech given at Tencent’s annual meeting, co-founder and CEO Pony Ma says that the company is concerned about its status as the top company after a tougher than expected 2023.

“Gaming is our flagship business…But in the past year, we have faced significant challenges,” Ma said to the crowd via Reuters, “We have found ourselves at a loss, as our competitors continue to produce new products, leaving us feeling having achieved nothing.”

Gaming makes up over 30% of Tencent’s total revenue and Ma says that the company’s recent games haven’t met its expectations.

READ MORE: Activision Finally Reveals the Secrets of SBMM in COD

Tencent currently owns multiple studios such as League of Legends developer Riot Games, which recently underwent mass layoffs, as well as PUBG Mobile developer LightSpeed Studios, among others. It also has partial ownership in Epic Games.

Insider Gaming has reached to Tencent for a statement on Ma’s comments, and will update this story should one be received.

Do you think Tencent should be worried about its future in gaming? For more Insider Gaming, read about Visions of Mana not coming to Xbox Game Pass.

Tags
Mike Straw
Mike has been covering the gaming industry since 2012, and has reported on some of the largest events in the industry while also working as an investigative reporter. Outside of gaming, Mike was a beat reporter for various outlets covering the NHL for years before moving to game journalism full time. When he's not writing, you can find Mike playing various turn-based strategy games and roguelikes.

4 Comments

  1. They should close Riot down or at least League since Valorant is the bigger game. They should fully acquire Epic Games get the remaining 60% then make a ton from Fortnite and Unreal Engine.

  2. They should sell some of their stakes in companies like Ubisoft or force them to sell the company to the highest bidder. They need to just buy out Epic Games that would fix all their problems the amount of money Epic generates.

  3. No they should not sell anything and keep everything the way it is. They own the best games in the world today and those companies will continue to produce new top games in the future. A big problem was the chinese gov banning to many games is what destroyed their 2023 but chinese gov is now releasing 100s of game titles every month to bring gaming back. 2024 is going to big year for gaming again.

Comments are closed.