Tencent releases long-awaited League of Legends mobile game in China following Beijing’s crackdown on the industry
- League of Legends: Wild Rift is finally released in China after being available elsewhere for nearly a year
- The was highly anticipated in the country, but it comes after heightened scrutiny from Beijing and new rules curtailing minors’ playing time
Tencent’s stock price gained 1.4 per cent in Hong Kong on Friday.
League of Legends finally launches on mobile, but only in Asia
Fears over a fresh industry crackdown were heightened in August when a state-owned media outlet published a commentary referring to video games as “spiritual opium”. The following month, authorities further limited gaming time for minors to just 8pm to 9pm on Fridays, Saturdays, Sundays and statutory holidays. The valuation of industry giants Tencent and NetEase plummeted, along with other tech stocks.
Adapted from the original League of Legends game on PC, Wild Rift has been Riot Games’ most successful mobile game to date, racking up more than 46 million downloads and US$64 million in global revenue as of July, according to a report by app-tracking firm Sensor Tower.
Wild Rift’s launch in China has taken longer than anticipated after receiving a license for release back in February. Tencent delayed the game’s launch last month after Beijing again targeted the industry by demanding companies take more stringent measures to enforce anti-addiction features. The gaming giant’s shares plunged more than 8 per cent on the news.
While the League of Legends franchise is widely popular in China, competition for similar games on mobile platforms is steep. Riot’s biggest competitor in this genre in China is its parent Tencent, whose game Honour of Kings was inspired by League of Legends. The game has 100 million daily active users and is the world’s highest-grossing mobile game.
“Wild Rift needs a strong China debut after a decent, but not mesmerising, performance internationally since it’s ex-China launch,” said Matthew Kanterman, senior analyst at Bloomberg Intelligence.
“However, with Honour of Kings’ massive popularity, it remains to be seen how another MOBA can fit in and take a share of both time and spending from the clear market leader,” he added.