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

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

According to Sensor Tower data, Genshin Impact ranked third in mobile spending since its release two years ago. The title trails only Honor of Kings and PUBG Mobile (including spending on its Chinese counterpart, Peacekeeper Elite). In 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 IP launch on mobile since Honor of Kings. While the title earned somewhat less in year two ($1.7 billion) compared to year one ($2 billion), it is overall defying market trends. When global mobile game spending fell in Q1 and Q2, Genshin Impact’s revenue grew 16 percent and 28 percent respectively.

Sensor Tower points out that Genshin Impact is the most successful game using gacha monetization. It has earned more than the no. 2 and no. 3 games combined over the same period. Partially, this is because Genshin Impact managed to build a loyal player base in some of the most lucrative markets globally. The top three markets by spending for the title were China (33 percent), Japan (24 percent) and the U.S. (17 percent).

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 percent of the spend. However, Sensor Tower does not track spending on third party Android stores which are popular in China.

Genshin Impact is one of a growing number of Chinese developed titles succeeding outside of its home market. The title’s crossplay between mobile and PC and its regular content updates that supply popular new characters has made the title a trend setter across the industry.