A new deal with the world's largest games publisher, Tencent, has sent Nintendo's stock soaring
I'm a Multimedia Editor on the Asia channel, based out of Hong Kong.Journalists wait for the presentation of the new Nintendo Switch in Tokyo.
The announcement, which resulted in a 15% spike in Nintendo’s share price, preceded today's earning's report, showing a 13.7% increase in net sales. The company sold 17 million Switch units last year and projects that a further 18 million will be sold in the year to come. Last year was a bruising one for many games publishers in China, and Tencent was no exception. A regulatory crackdown on video games halted the publication of new titles for more than 9 months. At the end of 2018, the Chinese government set up a new body to review the ethics of games published in China, and approvals have slowly begun to resume since then. “Many smaller developers actually went out of business waiting for their games to be approved,” says Tianyi Gu, an analyst with NewZoo.
“Before the approval freeze in China, there were more than 8,000 games published every year in China,” Gu says. “This year, the government says they will cut the number down to 3,000.”
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