As 2024 comes to a close, Honor of Kings stands out as the most profitable mobile game of the year, bringing in a staggering US$2.6 billion in revenue. This accomplishment not only solidifies the game’s position as a global powerhouse but also highlights the ongoing dominance of Tencent’s flagship title in the fiercely competitive mobile gaming market.
This feat was revealed by AppMagic, which compiled the data showing the most profitable games over the last few months. In addition to Honor of Kings, several other titles also made the list of top earners, including Monopoly Go, Royal Match, and PUBG Mobile, but none came close to matching the impressive revenue generated by Honor of Kings.
Let’s dive deeper into the details of this monumental success, explore the broader mobile gaming landscape of 2024, and discuss what the future holds for Honor of Kings and other top contenders.
Top 10 Most Profitable Mobile Games of 2024
- Honor of Kings — US$2.6 billion
- Monopoly Go — US$2.2 billion
- Royal Match — US$2 billion
- PUBG Mobile
- Roblox
- Last War Survival
- Candy Crush Saga
- Whiteout Survival
- Dungeon & Fighter Mobile
- Coin Master
Honor of Kings holds a commanding lead, followed closely by Monopoly Go, which earned an estimated US$2.2 billion. Royal Match rounds out the top three with revenues around US$2 billion.
Interestingly, the collective revenue from these top mobile games saw a 4.9% increase compared to 2023, contributing to a $81 billion total revenue across all mobile games. This increase shows that mobile gaming continues to thrive, even in the face of competition from both traditional gaming consoles and emerging platforms like cloud gaming.
However, not all games are faring well. Titles such as Genshin Impact, Pokémon GO, and Honkai: Star Rail have seen declines in revenue and have dropped out of the top 10 most profitable games list. Similarly, Clash of Clans and Call of Duty Mobile no longer make the cut, signaling a shift in the gaming ecosystem.
Why Honor of Kings Reigns Supreme in 2024?
Launched in 2015, Honor of Kings (known as King of Glory in China) has continued to grow in both player base and revenue year over year. Its success is rooted in a combination of factors:
Constant Updates and Content Releases: Tencent has kept the game fresh with regular updates, introducing new heroes, skins, and gameplay features. This helps retain existing players while attracting new ones.
Localization and Regional Appeal: Honor of Kings’ success in China is unrivaled, but it has also seen significant growth in markets outside Asia, including Southeast Asia and even parts of Europe. The game’s strategic regionalization allows it to cater to different cultural preferences and gaming habits.
Live Operations and Esports: Honor of Kings has long been a staple of the esports scene, with massive tournaments, both online and offline, that further engage its audience. The game also hosts seasonal events, which often involve collaborative promotions and in-game rewards, encouraging players to spend more money.
Monetization Strategy: Tencent’s microtransaction model, which focuses on in-app purchases for skins, cosmetics, and other non-essential content, has proven incredibly effective. Players who enjoy customizing their characters and showing off rare skins are more likely to spend on premium content.
Expanding the Narrative: Tencent has also been expanding the game’s universe beyond just the core gameplay. Collaborations with popular franchises, including Chinese historical figures and legends, have helped deepen the game’s lore and appeal. This storytelling aspect keeps players invested.
Massive Daily Active User (DAU) Base: Honor of Kings continues to be a massive hit in terms of player engagement. The game regularly records more than 100 million players in a single day, a monumental milestone for any game. This large and active user base contributes directly to its profitability.
What’s Next for Honor of Kings?
While Honor of Kings has undoubtedly enjoyed immense success, the mobile gaming landscape is ever-evolving. As we look toward 2025 and beyond, several key factors will shape the game's future:
1. Potential Sequel or Evolution?
2. Further Global Expansion
Honor of Kings has already made significant strides outside China, but its potential for growth in untapped markets like North America, Europe, and South America remains vast. Tencent could enhance its localization efforts, partnering with influencers and content creators in various regions to increase its global presence.
3. AR and VR Integration
Looking ahead, augmented reality (AR) and virtual reality (VR) could play a significant role in enhancing player immersion. Tencent may start to experiment with these technologies in Honor of Kings to keep up with evolving gaming trends. For example, AR-based events or VR-friendly modes could introduce exciting ways for players to interact with the game world.
4. More Collaborative Events and IP Crossovers
Tencent has found success with cross-promotions and in-game events that tie into real-world holidays, festivals, and collaborations with other media franchises. In 2025, we could see even more partnerships, especially with global brands and franchises. A well-executed collaboration could result in a surge of new users and revenue.
5. Esports Growth
Esports is another area where Honor of Kings could continue to thrive. With the rise of mobile gaming as a legitimate esports discipline, Honor of Kings could further strengthen its position by hosting larger tournaments, integrating more competitive features, and even expanding into regional esports leagues.
Should Creators Focus on a Sequel or Continued Evolution?
With Honor of Kings dominating the charts, the question arises whether Tencent should focus on developing a sequel or continue evolving the existing game. Given the current momentum, creating a new installment may risk alienating the loyal player base that has invested years into the current version. Instead, a more prudent approach might involve continuous content updates, periodic overhauls, and the introduction of new game modes.
In particular, seasons and chapters with evolving storylines and gameplay mechanics could keep the game fresh without losing the loyal following. Tencent has done well in the past with incremental changes, and there’s no need to fix what isn’t broken.
Conclusion: Honor of Kings' Continued Success in 2024
Honor of Kings has proven itself as the most profitable mobile game of 2024, and its future appears bright. With its massive player base, regular updates, and strategic monetization, it has become a global sensation. As the mobile gaming landscape continues to evolve, Tencent must balance innovation with consistency to keep Honor of Kings at the top of the charts. Whether through new technologies, better global expansion, or simply continuing to engage its players in meaningful ways, the game has a long road ahead of it.
As the mobile gaming industry enters a new phase, all eyes will be on how Honor of Kings adapts to the changing trends and whether it can maintain its crown in the years to come.
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