China: Virtual Goods Are Big, Social Games Are Still Growing
With daily active uniques in the double digits and revenues climbing toward $1 billion in 2010, social games are exploding in the U.S. But, in China, revenue from virtual goods has already grown into a multi-billion dollar business. Estimates hover around $5 billion USD in revenue for 2010 from virtual goods.
In fact, China’s biggest internet media company, Tencent, recently revealed that “internet value-added services,” or virtual goods, made up 78% of the company’s total revenue for Q3 2009.
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