Tencent CEO Says Their Gaming Business "Achieved Nothing' In 2023
Image Source: Fox
It is no secret the gaming industry has had flaws in recent years. Taking hits here and there, quality and money-wise. The most recent and straightforward example is Tencent’s gaming business in 2023.
Tencent CEO, Pony Ma, stated the company “achieved nothing” in the market in the past year. He emphasized how their biggest competitors developed global hits while many of Tencent’s releases failed to meet internal expectations.
The CEO’s exact words were: “Gaming is our flagship business [...] but in the past year, we have faced significant challenges. We have found ourselves at a loss as our competitors continue to produce new products, leaving us feeling having achieved nothing.”
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Tencent has faced external difficulties as well, for instance, the newest spending and playtime regulations in China, which led the company to invest in more Western studios than before. During 2023 Tencent became the majority shareholder of Techland, invested in startups such as the UK studio Lighthouse Games, and finally invested $10 million into Quell, a fitness game maker.
2023 was a difficult year for Tencent, however, with their recent investments, they probably get a chance to turn 2024 around and come on top of their competitors this time around.
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Source(s): Game Developer
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