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The
industry's combined revenue declined 1.8% to 147.7 billion yuan
($21.8 billion) in the six months ended June, according to a
report published by the China Audio-Video and Digital Publishing
Association, a state-backed industry group, on Thursday.
It marks the first drop since the data began being published in
2008 and reflects how China's massive gaming industry, once
marked by unbridled growth, has been heavily bruised by
Beijing's efforts to tighten its oversight of the sector,
including by reducing the number of gaming licences given out
and limiting play time for teens.
The report also shows that the number of gamers nationwide fell
for the first time, dropping to 665.69 million from 666.57
million reported in December.
Chinese gaming companies' domestic revenue fell 4.25% to 124.5
billion yuan. With heavy regulations at home, companies have
been turning to overseas markets for growth, where revenue rose
6.16% to nearly $9 billion in the period.
China froze approvals of new games for nearly nine months before
resuming them in April. However, industry giants including
Tencent Holdings and NetEase have yet to win any new licences.
China's moves against the gaming industry are part of a wider
regulatory crackdown across broad swathes of its economy, from
property to technology.
But authorities have in recent months changed their tone as they
seek to boost an economy hurt by COVID-19 containment measures.
The shift has raised hope for companies and investors that the
worst is over, though jitters remain.
(Reporting by Josh Ye; Editing by Kirsten Donovan)
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