Pixel P&L: China’s Gaming Industry Booms Thanks to Black Myth Wukong

Good morning. It’s Wednesday, 23rd October. China’s video gaming market hit record revenue this quarter, fueled by the success of Black Myth: Wukong, the country’s first AAA title. With over 21 million copies sold globally, the game helped drive an 8.95% sales increase. We dive into how Wukong has reshaped China’s gaming market.

In today’s feature, we examine the true impact of Diversity, Equity, and Inclusion (DEI) initiatives in gaming—are they meaningful for players or just corporate optics? We also report on Ubisoft canceling early access for Assassin’s Creed Shadows and the launch of a new shooter from an Indian studio.

China’s Video Gaming Market Hits Record High on Success of Black Myth: Wukong

China’s video gaming market achieved record revenue in the third quarter, fueled by the success of its first AAA video game, Black Myth: Wukong, according to a report by the Gaming Publishing Committee of the China Audio-Video and Digital Publishing Association (via SCMP ).

The report, published Wednesday, revealed that sales in the world’s second-largest gaming market surged to 91.8 billion yuan (US$12.9 billion), an 8.95% increase from 84.2 billion yuan during the same period last year. The growth was largely driven by Black Myth: Wukong, a blockbuster title from Hangzhou-based studio Game Science.

Released in August on Windows and Sony’s PlayStation 5, the game has garnered international attention, contributing to a 21% rise in overseas revenue for China-developed games, totaling US$5.17 billion for the quarter.

Black Myth: Wukong has sold over 21 million copies globally on Steam, bringing in over US$1 billion for Game Science, according to gaming researcher VG Insights. This success has vaulted the studio to the 12th spot among Steam publishers, behind industry heavyweights like Valve, Electronic Arts, and Ubisoft.

The Great DEI Debate: Are Gaming Companies Playing Us?

As gaming companies increasingly embrace Diversity, Equity, and Inclusion (DEI) initiatives, a critical question emerges: are these efforts sincere or just corporate window dressing? Video games, once perceived as a pastime for a narrow demographic, now reach a global audience of diverse players. Companies have responded by promoting more inclusive characters, storylines, and development teams, aiming to reflect this evolving player base. But as the industry touts its progress on DEI, skepticism abounds.

For many gamers, these changes are a welcome shift, offering richer representation and more varied narratives. They see diverse characters and inclusive themes as a long-overdue reflection of the world we live in. Others, however, feel that DEI initiatives are superficial, with concerns that beloved games are being altered to meet corporate-driven agendas rather than to enhance storytelling or gameplay. They argue that some representations are merely tokenistic, designed to check boxes rather than deliver meaningful inclusion.

Within the industry, the debate is just as complex. Developers walk a fine line between pushing for progress and meeting the demands of a global audience that isn't always unified in its views. In our feature story , we explore the mixed reactions from players and the real impact of DEI efforts in gaming. Are these changes truly creating a more inclusive space, or are they just playing to the crowd?

Get access to essential gaming and esports industry insights, comprehensive market data, and exclusive interviews. Support quality content, make informed decisions.

?Quick Bytes

? Ubisoft Cancels Early Access for Assassin’s Creed Shadows

Ubisoft has canceled the planned early access for Assassin’s Creed Shadows collector’s edition buyers, as reported by Insider Gaming . The price of the collector’s edition has been reduced from $280 to $230, following the removal of early access and season passes. During a Discord Q&A session, Ubisoft confirmed the changes, though the collector’s edition will still include items like a steelbook and statue. Additional adjustments may be made before the game’s release.

? Netflix Shuts Down Southern California Game Studio, Team Blue

Netflix has closed its Southern California game studio, known as Team Blue, marking a setback in its gaming expansion, according to Game File . The studio was part of Netflix's push into video games, with plans for a big-budget, multi-platform strategy. Team Blue made high-profile hires in recent years, including Overwatch executive producer Chacko Sonny and Halo creative lead Joseph Staten. Despite these efforts, Netflix confirmed that the studio was shut down, and the key hires are no longer with the company.?

? Rage Effect: Mobile Hits Android and iOS, Aiming for Success in India

Rage Effect: Mobile, which Goldon Studios claims to be India’s first AAA shooter game, has launched on Android and iOS. While the game attracted over 120,000 pre-registrations during its open beta, there are doubts within the gaming community about whether it truly qualifies as AAA, a label typically reserved for games with the highest budgets and production values. Developed by a team with experience from major franchises like Assassin’s Creed and Sims, the game features Indian-inspired maps, weapon customization, and cross-platform play. Despite skepticism, the game aims to make a mark in India’s rapidly growing gaming market.

? Solo Leveling -ReAwakening- Set for December 6 Release in India

The anime film Solo Leveling -ReAwakening-will hit Indian theaters on December 6, 2024 , distributed by Crunchyroll and Sony Pictures Entertainment. The film serves as a recap of the anime's first season and includes an exclusive sneak peek of the first two episodes of the highly anticipated second season, set to premiere in January 2025. Directed by Shunsuke Nakashige and featuring music by Attack on Titan composer Hiroyuki Sawano, Solo Leveling adapts the popular Korean web novel by Chugong, following the journey of weak hunter Sung Jinwoo as he rises in power.

?? Did You Know?

When the iconic arcade game Pac-Man was released in 1980, its creators had no idea how it would end. The game was designed to run indefinitely, as the technology at the time didn’t account for an actual ending. The objective was simple: keep gobbling up pellets, fruit, and ghosts in a never-ending loop of increasingly difficult levels. However, something unexpected happened in 1999 when legendary gamer Billy Mitchell reached the game’s conclusion.

Mitchell achieved what’s known as a "perfect game" of Pac-Man, completing all 255 levels without losing a single life and accumulating the maximum score of 3,333,360 points. Upon reaching level 256, the game experienced a glitch, now famously known as the "kill screen." Due to an integer overflow, Pac-Man’s internal memory couldn't handle the level counter properly, causing half the screen to become an indecipherable mess of garbled symbols, while the other half functioned normally.

This glitch essentially marked the game's end, something the developers hadn’t anticipated. For the first time, Pac-Man’s creators were able to see how their game “ended,” thanks to Mitchell’s achievement.?

Want these daily in your email? Sign up here.