Every Wednesday we break down the latest data, research and financial results into digestible chunks.
Read on for the numbers you need to know about without the fluff.
This column is sponsored by Xsolla, which can help you to create a seamless online store where web purchases can quickly generate new revenue – from launch to beyond. Get started here.
Scopely says just 20% of its revenue comes from newer players
Monopoly Go maker Scopely generates about 80% of its revenue from users who have been playing its games for over 12 months.
Discussing the maturity of the mobile games market in an interview with The Game Business, Scopely co-CEO Javier Ferreira said: “You have to be nimble and be very adaptable. Five or 10 years ago, you still had a lot of people coming in and discovering mobile games. That is no longer the case.”
“Five or 10 years ago, you still had a lot of people trying to build a long-lasting relationship with some of these games. That is not the case today. All of these billions of gamers are playing these games with really high levels of engagement. About 80% of our revenue comes from people that have been playing our games for more than a year.”
Ferreira added: “The reality is that there’s less of a need for new games. But exceptional games that make players feel [very special], can achieve levels of success that are unrivalled and bigger than anything that was happening a decade ago.”
Tencent games revenue topped $40bn in 2025
Chinese tech giant Tencent has reported calendar year 2025 revenue of RMB 751.8bn ($107bn), up 14% YoY, and a net profit of RMB 229.8bn ($32.7bn), up 17% YoY.
Based on Niko Partners estimates, Tencent’s total gaming revenue reached RMB 282.5bn ($40.2bn) last year.
That included domestic games revenue of RMB 164.2bn ($23.4 bn), which was up 17.6% YoY. Tencent said this was “underpinned by [the] robust performance of recently released Delta Force, as well as higher revenues from evergreen games such as Honor of Kings and Peacekeeper Elite, and from Valorant franchise (PC and mobile).”
The company’s international games revenue also topped $10bn for the first time annually, rising 33.4% YoY to reach RMB 77.4bn ($11bn). This reflected “higher revenues from Supercell’s games and PUBG Mobile, as well as incremental revenue contribution from Wuthering Waves.”
Tencent’s games revenue from social networks and services added an additional RMB 40.8bn ($5.8bn), according to Niko Partners.
Huuuge revenue down 6%, adjusted EBITDA up 10% in 2025
Social casino game publisher Huuuge has reported its FY 2025 results. While revenue declined 6.1% YoY to $235.6m, it delivered adjusted EBITDA up 10.3% YoY to $96m, with a record 41% margin (+6.1pp YoY).
Huuuge highlighted the growth of its direct-to-consumer segment, which saw annual revenue double YoY $61.8m. Its DTC channel accounted for 34% of total revenue in October 2025, for 37% in Q4, and reached approximately 41% in February 2026.
Huuuge said last September that its core franchises, Huuuge Casino and Billionaire Casino, had together surpassed $2.2bn in lifetime revenue. In 2025, DAU and DPU for the titles fell 12% and 9.1% respectively on a YoY basis. However, ARPDAU rose 7.8% to $2.3, ARPPU was up 4.4% to $51.2, and monthly conversion increased by 0.7pp to 8.6%.
Subway Surfers City tops 15m installs, $1m revenue in first month
Subway Surfers City has earned $1.1m since its worldwide release on February 26, Appmagic reports. Most of its revenue comes from the US, followed by Germany and France.
The game has also been downloaded 16m times, with males making up 67% of total players and females 33%.
Appfigures previously reported that Subway Surfers City hit 5m downloads and earned $502k in net revenue in its first 10 days, without negatively impacting the performance of its predecessor.
Amanotes hits 4bn downloads
Hybridcasual music games specialist Amanotes says it has surpassed 4bn downloads. That’s up from 1bn announced in May 2020, 2bn reported 14 months later, and 3bn in July 2023.
Founded in Vietnam in 2014, the publisher’s flagship titles are Magic Tiles 3 and Tiles Hop, each of which has surpassed 1bn downloads. Its portfolio, which also includes Dancing Road and Duet Cats, attracts over 70m monthly active users.
Appcharge reports $1bn in annualised DTC transactions
Direct-to-consumer platform Appcharge claims it has hit $1bn in annualised DTC transaction volume. That’s up from $500m in annualised DTC transactions reported last July, and $700m in January.
The company, whose partners include the likes of King, Huuuge and Tripledot, now supports over 150 mobile games worldwide. It says it is targeting $10bn in annualised DTC transaction volume within the next two years.
Appcharge recently estimated that the top 200 game publishers are collectively losing $41m daily to App Store commission fees.
Everplay’s adjusted EBITDA up 11.5% in 2025 to $56m
The Everplay group, which includes Astragon, StoryToys and Team 17, has published its unaudited results for FY 2025.
While revenue for the 12 months ended in December 2025 was flat YoY at £166m (≈$192.5m), gross profit increased 10% YoY to £76.3m (≈$88.4m), with adjusted EBITDA up 11.5% to £48.5m (≈$56.2m).
Everplay’s mobile releases last year included Worms Across The Worlds, which launched on Apple Arcade, and Barbie Color Creations and Lego Duplo World, which launched on Netflix.
Apple contributed £23.25m (≈$27m) to Everplay’s revenue in 2025, accounting for 14% of the total, compared to £18.8m (≈$21.8m), or 11.3% of the total, in 2024.
Over 60% of gamers play on mobile, Newzoo study finds
Three in five gamers play on mobile, illustrating the platform’s role as “a universal access point” for the pastime, research firm Newzoo reports.
According to its Global Gamer Study, 62% of female gamers play on mobile, as do 60% of male gamers.
Other platforms are more male-skewed. 28% of female gamers play on console compared to 40% of male gamers, while 28% of female gamers play on PC versus 42% of male ones.
When it comes to monetisation, 43% of female players reported spending money on games, compared to a 58% conversion rate for male gamers, with this difference consistent across platforms, according to Newzoo.
February’s top performers, according to Sensor Tower
Mobile games revenue hit $4.6bn in February, marking a 4.5% YoY increase, according to Sensor Tower data published by The Games Business.
Last War Survival led the monthly revenue chart, generating $137.2m, while Honor of Kings dropped to second place with $124.8m.
The top five was completed by Royal Match $98m, Whiteout Survival with $97.5m, and PUBG Mobile with $91m.
Mobile games downloads in February fell 10% YoY to 3.5bn. Block Blast was the most installed game, racking up 32.1m downloads.
It was followed by Roblox with 24.8m downloads, Garena Free Fire with 23.1m, Subway Surfers with 16.6m, and Vita Mahjong with 15.3m.
