MiHoYo's blockbusters “flopped” heavily at the beginning of the year
In the Gacha game segment, currently there is certainly no name that can surpass miHoYo. Owning many famous blockbusters such as Genshin Impact, Honkai: Star Rail, Zenless Zone Zero… miHoYo continuously dominates game revenue charts in not only the domestic market (China) but also globally.
Yet, right in the first month of the new year 2025, the revenue of miHoYo's games is continuously showing signs of a sharp decline. Even “out” of the top 10 best-selling games in many countries. Let's look at the rankings below:
Game revenue chart in Japan. (Source: appfigures)
Game revenue chart in China. (Source: appfigures)
It can be seen that Genshin Impact is hovering in the top 10 position in China. On the other hand, in Japan – one of miHoYo's international markets with the largest number of gamers, it is even more miserable. Honkai: Star Rail is in the top 7, Genshin Impact is “fading” and both are losing to Blue Archive, – another “old” Gacha game, much less famous.
Why is it said that miHoYo's revenue decline is alarming?
Because, recently, miHoYo games have been in quite a boom period. If Honkai: Star Rail has just released version 3.0, Genshin Impact is even more exciting, launching Banner of the Fire God – one of the most sought-after characters.
Despite possessing so much impressive content, in reality, the revenue of the two “big guys” of miHoYo is quite “flat”, raising alarm bells for miHoYo at the present time. Has miHoYo's popularity decreased? Will this brand be able to recover and regain its original position in future updates?
