On August 20, the highly anticipated Chinese AAA single-player game "Black Myth: Wukong" was officially launched worldwide. In just three days, it sold over 10 million copies and generated CNY3 billion (approx. US$422 million) in revenue. Considering that the total sales revenue in the Chinese console game market for the first half of 2024 was around CNY700 million, Black Myth: Wukong more than quadrupled that figure in just three days.
Nearly half of the world's population plays games, estimated at around 3.4 billion people, with almost half of these players located in Asia. The influence of gaming is more significant than one might imagine. It is estimated that Black Myth: Wukong can reach 20 million copies sold, with revenue exceeding CNY6 billion. This would not only set a new sales record for a Chinese single-player game but might also have a profound impact on the landscape of the Chinese gaming market.
Currently, mobile games remain the mainstream in the Chinese gaming market. In 2023, the Chinese gaming market generated over CNY300 billion in sales revenue, with mobile games accounting for about CNY226.8 billion, over 70% of the total. The dominance of mobile games in the Chinese market underscores just how remarkable and rare Black Myth: Wukong's success is.
According to research firm Newzoo, the global gaming market is expected to grow by 2% in 2024, reaching a total revenue of approximately US$187.7 billion. The market scale is expected to surpass US$200 billion by 2026. Mobile games are projected to remain dominant in 2024, with a market share of about 49%, followed by PC games (23%) and console games (28%).
Previously, several research firms predicted that mobile and PC games would continue to grow, while console games might experience a slight decline. However, the unexpected success of Black Myth: Wukong could alter these forecasts and reshape the Chinese gaming market.
Developing single-player games often requires investments of tens of millions of dollars, making it nearly impossible without substantial capital support. The Chinese gaming market is currently dominated by mobile games, which, especially in terms of capital support and return on investment, makes it difficult for the single-player game market to receive the same level of trust and investment treatment.
The success of "Black Myth: Wukong" has already had a noticeable impact on the Chinese gaming market. It is anticipated that other Chinese AAA games will follow, and companies willing to invest in or develop single-player games may increase. This could signal a shift in the Chinese gaming market, with the console game sector potentially experiencing a new wave of investment and development.
