海外收入连续三个季度刷新纪录！AI战略、长青游戏获马化腾肯定 腾讯游戏全球化布局进入收获期？

Core Insights - Tencent's gaming business showed strong performance in Q1 2025, with revenue reaching 59.5 billion yuan, a year-on-year increase of 23.7% [1] - The Chinese government's recent policy to promote the development of overseas gaming businesses provides further support for Tencent's international strategy [1] - Tencent aims for international market revenue to account for 50% of its gaming business in the future, up from the current 30% [2] Revenue Performance - Tencent's international gaming revenue reached 16.6 billion yuan, also reflecting a 23% year-on-year growth, marking three consecutive quarters of record highs [1] - The successful launch of new titles like "Delta Force" has significantly contributed to overseas revenue, with the game topping the App Store charts in 169 countries shortly after its release [2] Product Strategy - Tencent's gaming product structure is evolving, with a mix of established titles and new releases driving growth [2] - The company has over 40 globally recognized IPs, leading the industry in IP acquisition, which supports its diverse gaming portfolio [5] Long-term Growth and Innovation - Tencent's long-standing games, such as "Honor of Kings," continue to achieve record revenues, demonstrating the potential for sustained user engagement [5][6] - AI technology is being integrated into gaming to enhance user experience and operational efficiency, with applications in matchmaking and content generation [8][9] Globalization and Market Position - Tencent's global strategy is yielding results, with significant growth in overseas markets and a focus on creating a "game+" ecosystem that integrates social features [10] - The company faces challenges as the gaming industry shifts from a traffic-driven model to a content-driven one, necessitating a focus on product diversification and innovation [11] Future Outlook - Tencent's dual strategy of international expansion and AI investment is expected to drive sustainable growth in its gaming business [11] - The company is also advocating for a more balanced revenue-sharing model in app stores, which could enhance profitability for digital content creators [12]