Mobile Legends Revenue Passes $500 Million as Southeast Asia Powers Explosive Growth

Mobile Legends: Bang Bang from Moonton experienced explosive growth over the last year to power lifetime gross revenue past $502.5 million, according to Sensor Tower Store Intelligence estimates.

Launched in 2016, the popular mobile MOBA has seen its user spending increase every year, peaking at $214.1 million in 2019, up 36 percent year-over-year. The game had its best month ever in December 2019, generating $24.4 million, spurred on by the release of version 2.0 of the title.

Much of the game’s stellar revenue performance stems from Asia, particularly Southeast Asia, where the title has generated $307 million, or 61 percent of total revenue, since launch. Excluding China, where Mobile Legends is not available, Moonton’s hit is the top grossing MOBA in Asia. It’s even ahead of Tencent’s blockbuster Honor of Kings, which has picked up $251.4 million in the region outside of the Chinese market.

Malaysia has proven to be Mobile Legends’ most lucrative market, with players there spending $87.5 million in the game, or 17 percent of total revenue. Indonesia ranked No. 2 for player spending, generating $69.2 million, or 14 percent of the total, while the United States was No. 3, racking up $64.1 million, or 12.8 percent of all revenue.

Its Google Play version accounted for the majority of revenue, making up more than $340 million, or 68 percent of user spending. App Store users, meanwhile, spent $162.4 million, or 32 percent of the total. Average revenue per download for Mobile Legends currently stands at approximately $1.80.

Throughout its lifetime, Mobile Legends has accumulated 281.3 million downloads, with 212.1 million, or 75 percent, of those originating from Asia.

The top country for downloads was Indonesia, racking up 100.1 million, or 36 percent of total unique installs. Philippines ranked No.2 with 41.2 million downloads or 15 percent, while Vietnam ranked No.3 with 21.3 million installs, or 8 percent of the total.

As with revenue, Google Play also took the lion’s share of downloads, generating 250.7 million installs, or 89 percent of the total. The App Store, meanwhile, accumulated close to 30.5 million installs, or 11 percent.

Mobile Legends’ success outside of China over rivals such as Honor of Kings can be put down, in part, to first-mover advantage. The game launched before Tencent’s title in key markets such as Malaysia, Indonesia, and the U.S.—which now represent its top three regions. Building upon that temporary gap in the market has led to explosive growth each year for what is now one of the world’s biggest MOBAs on mobile or otherwise.