NetEase has released its financial report for FY24. The Chinese company also shared new data on its video games, including Marvel Rivals and Where Winds Meet.
Marvel Rivals
Financial highlights
- According to its latest earnings release, NetEase reached 105.3 billion yuan ($14.4 billion) in net revenue in FY24, up 1.3% compared to 2023.
- NetEase’s gaming division generated 83.6 billion yuan ($11.5 billion), up 2.4% compared year-over-year. A small portion of that includes “value-added services” such as live streaming service NetEase CC and game-related merchandise.
- Online games accounted for 96.2% of the total (vs. 92.9% in 2023), and the share of mobile titles in the segment’s revenue decreased from 75.2% to 72.7%.
- According to NetEase, the change was mainly due to higher revenues from PC games such as Naraka: Bladepoint and licensed titles.
- The company’s gross profit was 65.8 billion yuan ($9 billion), up 4.2% year-over-year, while net income grew 1% to 29.7 billion yuan ($4.1 billion).
Marvel Rivals hits 40 million players, plus more game results
- NetEase seems to be satisfied with the performance of its video game division. “As our diverse game portfolio expands across more genres and engages an ever-growing global audience, we remain dedicated to fostering creativity and collaborating with top talent and strategic partners to shape the next wave of gaming trends,” CEO William Ding said in a statement.
- Marvel Rivals has surpassed 40 million unique players to date. The game topped 10 million users in its first three days, crossing the 20 million mark in less than two weeks. This means it took the hero shooter about two months to attract another 20 million players.
- Speaking of its Q4 results, NetEase provided an updated on its partnership with Blizzard. World of Warcraft and Hearthstone “continued to generate strong enthusiasm from the Chinese gaming community.” Overwatch 2 also return to the country on February 19.
- In December, the company released open world action RPG Where Winds Meet in China. The game generated over 3 million downloads in the first three days of its PC launch and topped the iOS download charts for two weeks after its mobile release. As a result, the total number of players surpassed 15 million in just two weeks.
- NetEase’s pipeline currently includes titles such as 5v5 shooter FragPunk, Destiny: Rising (mobile version of Bungie’s shooter), and mobile tactical RPG Marvel Mystic Mayhem.