从外部角度来看，2025年的确是女性向市场潜力加速释放的一年。伽马数据上月发布的《女性向游戏调研报告》中写道：「女性向游戏近年来成为游戏产 业增长最快的赛道，展现出显著的商业潜力与市场拉动作用。2024年中国女性向游戏市场规模达80亿元，同比提升124.1%，增速远超行业平均水平。」 可是大概在赛道内部的厂商和团队，才知道这个领域现在有多难做。玩家对视觉效果的技术力期待越来越高、对舆论越来越敏感、对文案质量的要求越来 越严格……这一赛道的「赌」，在于有太多意外是难以控制的。 与此同时，资本方面又尚未跟上市场认知。游戏新知曾采访过的一个女性向独立游戏团队，就在为产品寻找发行合作方时遇到了很大阻碍。她们接触了不 少意向合作方，但感觉到「因为整个国内市场其实没有一家发行或投资是专精女性向用户的，所以他们的思维比较局限。……他们过往了解的用户群体、 他们的发行经验都不能复刻到我们的游戏上来，所以他们提出的一些方案就容易和我们聊不到一起去。」 一款游戏创造近半收入 | | | | TOP女性向游戏2025年iOS收入 | | | | --- | --- | --- | --- | --- | --- | | | | | ...

Investment Rating - The report indicates a strong market vitality in the mini-game sector, with a projected market size of approximately 610 billion yuan in 2025, reflecting a year-on-year growth of 22% [7][6]. Core Insights - The mini-game industry is transitioning from a phase of rapid growth driven by traffic bonuses to a more refined operational phase focused on existing user engagement and content creation [7]. - The competition in the domestic mini-game market will increasingly center on operational capabilities, content creation value, and platform adaptability, with live streaming, content, social interaction, and multi-platform operations identified as four core strategies for industry breakthroughs [7]. - The number of active users on major platforms continues to rise, with the leading social software platform reaching 571 million monthly active users, and the leading short video platform seeing a 44% increase in active users [11][10]. Summary by Sections 1. Mini-Game Market Overview - The mini-game market is expected to exceed 700 billion yuan by 2026, with a significant growth rate of 22% in 2025 [7][6]. - The average daily usage frequency per user is approximately 5.1 times, with a 4.5% year-on-year increase, while the average daily usage duration has risen to 24.6 minutes, marking a 27.2% increase [15][14]. 2. Mini-Game Market Buy Volume Trends - The daily expenditure on mini-game user acquisition is approximately 144 million yuan, reflecting a 15.6% increase from Q1 [25]. - The number of games in the mini-game sector has grown by over 54% year-on-year, reaching approximately 51,000 games in 2025, while mobile app games have only seen a 5.2% increase [30]. - The number of games launched on Douyin mini-games has surged by nearly 70%, while WeChat mini-games have also shown a recovery in growth [35]. 3. Key Categories & Case Analysis - Modern themes in mini-games have seen a significant increase, with over 15,000 products launched, reflecting a 52.23% year-on-year growth [76]. - The top three gameplay types (MMORPG, idle, and card games) account for over 70.6% of the top 500 products, indicating a high market concentration [86]. - The strategy SLG segment has shown a continuous increase in the number of products, with a year-on-year growth of 38.8%, driven by user preference for lightweight operations combined with heavy strategy [89].

Core Insights - Tencent's "Honor of Kings" continues to lead the global mobile game revenue chart, benefiting from strategic IP collaborations and content innovation, particularly during key Chinese holidays [1][3] - Global mobile game consumer spending reached approximately $6.85 billion in May, marking a 5.4% increase from the previous month, with the U.S. contributing about $2.13 billion, accounting for 31% of global revenue [1][3] Revenue Rankings - "Honor of Kings" remains at the top, followed by "Whiteout Survival," which has climbed to second place due to engaging dynamic events [1][3] - "Last War: Survival" holds the third position, driven by strong social features and regular content updates [3] - "Royal Match" ranks fourth, attributed to its addictive puzzle mechanics and frequent new area releases [3] - "MONOPOLY GO!" maintains its fifth position by integrating social gameplay with popular themes [3] Growth Highlights - "Gossip Harbor" enters the top ten due to successful events that increased player engagement and revenue [4] - Bandai Namco's "SD Gundam G Generation Eternal" leads the revenue growth chart, driven by its popular IP and special events [4] - "Game For Peace" sees significant growth, ranking seventh overall, supported by major updates and collaborations [4] - Netmarble's "Seven Knights Re: BIRTH" quickly rises to third in revenue growth, showcasing the strength of its beloved IP [5] Download Rankings - "Block Blast!" retains the top spot in global downloads, demonstrating its broad appeal and effective user acquisition strategies [6][7] - "Garena Free Fire" climbs to second place, reflecting its sustained popularity in key markets [6] - "ROBLOX" remains third, bolstered by brand experience events [6] - "Ludo King" and "Subway Surfers" round out the top five, highlighting the enduring appeal of classic games [7] Market Insights - Global mobile game downloads reached 4.3 billion in May, with India leading at 881 million downloads [7] - The rise of Gen Alpha slang in gaming is noted, with games like "Brainzot Tip Tap Challenge" gaining traction in key markets [7] - "Mobile Legends: Bang Bang" sees a resurgence in downloads, particularly in India, due to localized events [8]