Genshin Impact Developer Breaks Profit Records, Outshining PlayStation

HoYoverse, the developer behind Genshin Impact and Honkai: Star Rail, has reported impressive earnings over the past fiscal year, surpassing even gaming giant Sony. Although the Chinese development studio was established in 2011, its worldwide breakout only occurred in recent years, thanks to the monumental success of its newest games. In 2020, the studio shook the gaming industry with the release of its flagship RPG, Genshin Impact, which continues to generate significant revenue from its gacha banners. Even in China alone, these banners have netted over $10 million USD in sales, with the most successful banner earning nearly $50 million. The studio's latest release, Honkai: Star Rail, has also performed exceptionally well, with early banners boasting similarly high totals. With these impressive earnings, HoYoverse has solidified its position as a major player in the gaming industry, even surpassing the earnings of the iconic Sony.

HoYoverse, a Chinese game developer, reported a staggering profit of $2.26 billion USD in the 2022 fiscal year, according to recent financial reports. This figure surpasses the profit made by Sony's PlayStation, which reported a still impressive profit of $1.84 billion in the same period. The success of HoYoverse's games can be attributed, in part, to their gacha systems, which proved to be a lucrative source of revenue. In total, the studio generated $3.83 billion in revenue throughout the year.

In 2022, HoYoverse experienced significant changes as they released a new region for Genshin Impact, the Sumeru region, and introduced highly-anticipated characters such as Nahida and Wanderer. The success continued into 2023 with Genshin Impact's highest-grossing banner and the debut of Honkai: Star Rail, which quickly gained a fanbase of over 20 million downloads within two days of its launch. As we move into the rest of 2023, HoYoverse is poised for even greater success with the upcoming release of the Hydro Archon's region of Fontaine in Genshin Impact. Another successful year would solidify HoYoverse's position among the top developers in the industry.

Genshin Impact is available now for PC, PS4, PS5, and mobile devices. A Switch version is in development.

Source: PushSquare