Genshin Impact earned $3.7 billion on mobile in first 2 years

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Genshin Impact, MiHoYo's first mobile title, has reached a new spending record. In its first two years on the market, mobile gamers spent $3.7 billion on this action-adventure title.

According to data from Sensor Tower, Genshin Impact has ranked third in mobile spending since its release two years ago. The title only tracks Honor of Kings and PUBG Mobile (including spending on its Chinese counterpart, Peacekeeper Elite). During the same two-year period, Honor of Kings earned $5.5 billion while PUBG Mobile earned $4.9 billion.

As a result, Genshin Impact is the most successful mobile IP launch since Honor of Kings. While the stock earned slightly less in year two ($1.7 billion) compared to year one ($2 billion), it is defying market trends overall. When global mobile game spending plummeted in Q1 and Q2, Genshin Impact's revenue grew 16% and 28%, respectively.

Sensor Tower points out that Genshin Impact is the most successful game using gacha monetization. He won more than the no. 2 and no. 3 matches combined over the same period. This is partly because Genshin Impact has managed to build a loyal player base in some of the most lucrative markets in the world. The top three markets by spend for the title were China (33%), Japan (24%) and the United States (17%).

Genshin Impact's spending by platform is relatively even between the App Store and Google Play globally. In China, the App Store accounted for 68% of spending. However, Sensor Tower does not track spend on third-party Android stores that are popular in China.

Genshin Impact is one of a growing number of Chinese-developed titles that are succeeding outside of its home market. The title's cross-play between mobile and PC and its regular content updates that provide popular new characters have made the title a trendsetter in the industry.

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