Don't get Jaded.
HoYoverse or miHoYo – the Chinese juggernaut responsible for games like Genshin Impact and Honkai: Star Rail – has posted some absolutely startling financial results, confirming that its profits were greater than even PlayStation in its most recent fiscal year. While division Sony Interactive Entertainment’s overall revenue naturally dwarfed the game developer, miHoYo made a tidy $2.26 billion profit in 2022, compared to PlayStation’s much milder $1.84 billion.
Considering that miHoYo only managed $3.83 billion in revenue, it really illustrates how successful its business model is. Games like Genshin Impact and Honkai: Star Rail are free-to-play, but they leverage a gacha system whereby players are encouraged to spend money in order to roll for new characters. The random outcome has been compared by critics to gambling, but there are plenty of ways to unlock free rolls in-game as well.
Read the full article on pushsquare.com
