Sensor Tower 发布的 2026 年移动游戏变现趋势洞察报告，通过剖析 2025 年全球头部手游变现机制，预判 2026 年行业发展趋势，拆解了不同品类手游的变 现策略逻辑，并结合经典案例给出商业化参考，为厂商平衡收入增长与用户体验提供方向。报告统计收入为 App Store 和 Google Play 的 IAP 预估值，不含 广告、第三方平台等收入。 2026 年全球手游变现呈现头部效应持续强化的特征，2025 年全球 TOP100 手游收入逼近 466 亿美元，占全球手游总收入 57%，预计 2026 年这一数字将升至 530 亿美元，占比近 58%。头部手游普遍采用 "货币包 + 活动 + 宝箱 + 通行证 + 订阅 + 抽卡" 全维度变现组合，83% 的 TOP100 手游搭配 5-7 种变现机制实 现收入最大化，货币包、运营活动、新手礼包成为标配，通行证渗透率达 75%，是稳定收入核心来源，抽卡则在 RPG、SLG 等品类表现强势。 不同品类手游变现策略分化显著，中重度手游变现机制多元，涵盖订阅、抽卡等，极少采用广告；混合休闲手游融合中重度变现机制与广告变现；休闲手游 以广告、货币包为主 ...

Core Insights - Global mobile game revenue is projected to grow slightly by 1.3% to $82.3 billion in 2025, with the top 30 Chinese mobile game publishers generating $23.3 billion, maintaining a steady revenue level compared to 2024, accounting for 35% of the total revenue of the top 100 mobile game publishers [1] Group 1: Top Publishers and Their Performance - Tencent remains the top global mobile game publisher in 2025, with flagship titles like "Honor of Kings" and "PUBG MOBILE" contributing to its success, achieving over $2 billion in revenue from "Honor of Kings," marking a 5% year-on-year growth [2] - Point2 Interactive experienced explosive growth with a 87% increase in global revenue, securing the second position in the revenue rankings, driven by the success of "Whiteout Survival," which saw a 45% revenue increase to $2.1 billion [2] - Lemon Microfun's revenue surged by 165%, making it the leader in the merging game segment, with its flagship title "Gossip Harbor" achieving a 242% revenue increase [3] Group 2: Growth of Game Segments - The merging game segment has seen explosive growth, with a 95% year-on-year increase in 2025, reaching a market size of over $2.4 billion, becoming a core strategic focus for publishers [3] - Heavy strategy games are driving market growth through innovative "SLG+X" gameplay, with global strategy game revenue increasing by 20% to over $20 billion in 2025, particularly strong growth in the U.S., Japan, and South Korea [4] - Hybrid casual games are also gaining traction, with significant contributions from titles like "Archero 2," which saw a 630% revenue increase, and "Capybara Go!" generating $140 million [5] Group 3: Notable New Entrants and Rankings - The 2025 overseas mobile game revenue rankings saw new entries such as "Kingshot" and "Lands of Jail," with "Merge Cooking" achieving a remarkable 267% revenue increase, entering the top 30 for the first time [7][8] - The top 30 Chinese mobile game publishers also include 34 other companies like Mattel163 and ONEMT, indicating a diverse and competitive market landscape [6]