Core Insights - The article highlights the trends and changes in the overseas revenue of Chinese mobile application and game developers for October 2025, based on data from the "Diandian Data" platform [1] Non-Game Developers Revenue Summary - ByteDance leads the non-game developers' revenue ranking with its video editing app "CapCut," achieving an estimated overseas monthly revenue exceeding $31.36 million, continuing a growth trend since April [4] - Huya Group (NASDAQ: YY) and Ruqi Software follow, with both experiencing a decline in revenue [4] - Meitu (HK: 01357) saw a significant revenue increase of over 11.48% month-on-month, driven by its apps "Meitu" and "BeautyCam" in East Asian markets [4] - Xiaohongshu maintained a 16.2% growth in overseas revenue, supported by strong performance in its lifestyle social app [4] - iQIYI (NASDAQ: IQ) reported a revenue increase of over 13.3%, attributed to the success of its series in Taiwan and Thailand [5] - Baidu (NASDAQ: BIDU) experienced a revenue recovery of over 11.5% from its browser and cloud storage applications [5] Game Developers Revenue Summary - The game market showed signs of recovery in October, with many domestic developers experiencing slight revenue increases [9] - Diandian Interactive (SZ: 002602) maintained its top position, with a revenue growth rate of approximately 0.6% [9] - Lemon Microfun's games continued to perform well, with a revenue increase exceeding 34.5% due to a Halloween-themed event [10] - Youxing Network's new RPG "Star Tower Traveler" generated over $7.12 million in revenue within two weeks of its overseas launch, with a significant portion coming from Japan [10] - Heartbeat Network (HK: 02400) saw a revenue increase of over 89.5% driven by new game launches and seasonal events [11] - BeheFun's social gaming app "Top Tycoon: Coin Theme Empire" achieved a revenue growth of 29.8%, setting new revenue records [12]

Core Insights - The merge-2 gaming market continues to grow, with new challengers entering the space and achieving significant revenue increases, particularly with titles like "Tasty Travels" and "Merge Cooking" [1][19][27] Market Trends - The merge-2 market saw a revenue increase of over 94% year-on-year in the first half of this year, with downloads up by 32% [27] - The average revenue per download (RPD) rose from $3.2 to $4.7, indicating enhanced monetization potential [27] Competitive Landscape - "Gossip Harbor" remains the top revenue-generating game in the market, while "Tasty Travels" and "Merge Cooking" are also performing well, with "Tasty Travels" reaching significant monthly download peaks [10][15] - New entrants like "Flambé" are emerging, showing potential to become leading titles in the merge-2 category [19][26] Gameplay Innovations - "Tasty Travels" and "Flambé" have introduced innovative gameplay mechanics that differentiate them from traditional merge-2 games, focusing on complex item synthesis and faster gameplay [21][25] - The introduction of mini-games and unique promotional strategies has helped these titles attract new users and maintain engagement [9][12][14] Promotional Strategies - "Gossip Harbor" utilized emotional storytelling in its advertising, leading to significant user engagement and downloads [15][16] - Newer games are shifting promotional focus from narrative-driven ads to gameplay-centric strategies, indicating a potential evolution in marketing approaches within the merge-2 genre [18][29]

Core Insights - The article highlights the emerging success of the Merge-2 gaming genre, particularly with the introduction of the Chinese horror-themed game "Haunted Merge: Horror Story," which showcases the industry's trend towards diverse themes and innovative gameplay [1][2][10]. Industry Overview - The Merge-2 genre has gained significant traction, surpassing Merge-3 in revenue, with a reported annual income of over 28 billion yuan compared to Merge-3's 20.2 billion yuan [20][22]. - The growth of Merge-2 is evident, with a 43% increase in downloads in 2024, and a doubling of revenue, indicating a strong market demand [22]. Game Analysis - "Haunted Merge" stands out due to its unique theme of Chinese folklore horror, which is relatively niche compared to other offerings in the market [2][4]. - The gameplay involves merging items to solve puzzles and unlock story elements, aligning well with the horror narrative [7][8]. - The game has been launched in five Southeast Asian markets, indicating a strategic choice based on thematic relevance [11]. Company Background - The game is developed by WhaleJoy Game Limited, which is associated with Blue Ultra Game Limited, known for its successful title "Merge Prison" [10][12]. - Blue Ultra was founded in early 2023, with a team experienced in SLG game development, previously involved in titles like "Zgirls" [12][14]. Competitive Landscape - The article identifies several key players in the Merge-2 space, including Lemon Microfun, which has successfully transitioned from Merge-3 to Merge-2, and has multiple successful titles [19][56]. - Other notable companies include Red Child City and Whale Armor Technology, which are also exploring the Merge-2 genre with varying degrees of success [29][35]. Future Outlook - The Merge-2 genre is expected to continue evolving, with a focus on diverse themes and innovative gameplay mechanics, as evidenced by the ongoing development and testing of new titles [57][58]. - The success of "Haunted Merge" could pave the way for further exploration of niche themes within the Merge-2 genre, potentially expanding its audience [1][58].