Core Viewpoint - The emergence of the game "Mingchao" has created a significant shift in the competitive landscape of the ACG (Anime, Comic, and Game) gaming sector, positioning it as a formidable rival to miHoYo's flagship titles like "Genshin Impact" [1][4][13]. Group 1: Industry Dynamics - The competitive landscape has shifted from a stable three-player dominance (Tencent, NetEase, and miHoYo) to a more fluid situation, with "Mingchao" emerging as a serious contender [15][30]. - The gaming market is experiencing a decline, with the actual sales revenue of China's ACG mobile game market dropping to 29.348 billion yuan in 2024, a year-on-year decrease of 7.44% [27]. - The introduction of "Mingchao" has prompted miHoYo to abandon its complacency and re-engage with the market, leading to a renewed focus on content and player engagement [21][24]. Group 2: Company Performance - "Mingchao" initially struggled upon launch, with first-week revenue estimated at approximately 947 million yuan, significantly lower than "Genshin Impact," which earned between 3.5 billion to 4 billion yuan in its first week [9][10]. - Despite a rocky start, "Mingchao" has seen a resurgence in popularity, with its revenue recovering due to subsequent updates and improvements [10][16]. - miHoYo's revenue from its three main products is projected to decline by nearly 10 billion yuan in 2024 compared to 2023, indicating challenges in long-term product sustainability [14]. Group 3: Future Outlook - The competitive pressure from "Mingchao" is expected to stimulate innovation and investment in the ACG gaming sector, potentially leading to a more diverse range of successful titles [20][30]. - Both Tencent and NetEase are intensifying their efforts in the ACG space, with Tencent launching "Xinghen Gongming" and NetEase focusing on "Wuxianda," indicating a strategic shift towards this growing market segment [29][30]. - The industry may witness a new wave of competition, with "Mingchao" setting a precedent for future titles to challenge established players like miHoYo [30].
鸣潮这一年，米哈游想通了
3 6 Ke·2025-05-19 10:33