Tencent's Honor of Kings Brings in $4.5 Billion, Reaches $200 Million Outside China

The world's most lucrative game—mobile or otherwise—has just blown past another extraordinary revenue milestone. Honor of Kings from Tencent has grossed an estimated $4.5 billion globally on the App Store and Google Play since its October 2015 launch, Sensor Tower Store Intelligence data shows. This figure, which does not reflect the game's revenue from third-party Android stores in China, includes $166 million spent by players just last month.

According to our estimates, players outside China have now spent more than $200 million in the game. Of the markets where it's available, Honor of Kings (known as Arena of Valor in Western regions) has earned the most revenue in Taiwan, which accounts for about 36 percent or $72 million of the total. Thailand is close, with 30 percent of the $200 million sum, or $60 million spent by players.

The game has been less successful outside Asia, with the United States leading spending in Western markets at 3.5 percent of its non-China revenue. That amounts to approximately $7 million spent by U.S. players to date, or just 0.2 percent of what China's iOS players alone have spent in the game.

All told, Honor of Kings players in all markets have spent an average of nearly $3.7 million per day in the game since its 2015 launch. With an estimated 295 million installs to date, the average spent per download works out to just over $15.