Genshin Impact, MiHoYo’s first mobile game, has reached a new spending record. SensorTower reports that mobile gamers spent $3.7 billion on the game in its first two years.

Read the full SensorTower study here.

According to SensorTower, Genshin Impact ranks third in mobile spending since its release two years ago. This game is second only to Honor of Kings and PUBG Mobile. Honor of Kings earned $5.5 billion in the same two-year period, and PUBG Mobile earned $4.9 billion.

Side note: Is Genshin Impact the most expensive game in history?

Source: Company research

As a result, Genshin Impact became the most successful mobile franchise since Honor of Kings.

Global Trends

In the first quarter of 2022, the global mobile gaming market saw its first year-over-year decline in player spending, which fell 5% to $21 billion. The second quarter of 2022 saw a similar trend, with revenues down 7% year-over-year to $20 billion.

However, Genshin Impact defied the market trend, with first-quarter player spending up 16% from a year ago to $556 million and second-quarter revenues up 28% from a year ago to $413.5 billion.

Source: Company research

Sensor Tower notes that Genshin Impact is the most successful game that uses gacha monetization. This is partly because the game has built a loyal gamer base in some of the world’s most lucrative markets. The game is in the top three regarding spending, with China at 33%, Japan at 24%, and the U.S. at 17%.

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