Vortex Gaming

'Genshin Impact' is an open-world RPG serviced by HoYoverse (miHoYo). It has been in service for nearly 3 years since its domestic release on September 28, 2020. As of the 8th, Sensor Tower estimates that 'Genshin Impact' has accumulated approximately $4.8 billion (approximately ₩6.2 trillion) in global revenue.

Mobile market research firm Sensor Tower has tallied approximately $290 million (approximately ₩379 billion) in domestic revenue since the release of 'Genshin Impact'. This accounts for 6% of global revenue. Based on Genshin Impact revenue, South Korea ranks 4th, following China (iOS) at 34.3%, Japan at 23.3%, and the United States at 16.5%. Sensor Tower is a mobile data analytics company. The performance indicators provided by Sensor Tower are trusted and used by foreign news outlets such as Bloomberg, Reuters, and The New York Times.

'Genshin Impact' sees a significant increase in revenue and return rates during character releases and rerun events. On Google Play, a major domestic mobile game platform, 'Genshin Impact' usually ranks in the dozens, but has repeatedly shown itself returning to the Top 5 during events.

Global and domestic markets showed somewhat different patterns in terms of revenue increase. Revenue was based on cumulative totals for 3 days after the update. A universally popular update was the 'Raiden Shogun' patch in September 2021. Effective updates based on global revenue include: △Raiden Shogun on September 1, 2021: $60 million (approximately ₩78.2 billion) △Nahida and Layla on November 2, 2022: $43 million (approximately ₩56 billion) △Kamisato Ayato on March 30, 2022: $39 million (approximately ₩50.8 billion).

Based on domestic figures, the cumulative revenue ranking for 3 days after the update is: △Hu Tao and Yelan on February 7, 2023: $4.3 million (approximately ₩5.6 billion) △Raiden Shogun on September 1, 2021: $4 million (approximately ₩5.2 billion) △Yae Miko on February 16, 2022: $2.3 million (approximately ₩2.9 billion).

In particular, the Hu Tao and Yelan update also set a record for 'Genshin Impact' as the first to reach No. 1 in domestic Google Play revenue. On the 5th day after the Hu Tao and Yelan rerun banner update, 'Genshin Impact' recorded No. 1 in Google Play revenue and continued its performance until the 6th. At the time, it was analyzed that this was due to the latter half of the 3.4 version update and the banner characters, which were applied from January 18.

Raiden Shogun's success was achieved relatively early, in September 2021. At the time, miHoYo (HoYoverse) added Raiden Shogun, a major character in the storyline, through the 2.1 update, 'Floating World Under the Moonlight'. Raiden Shogun, a 5-star character, gained popularity for her useful buffs and powerful damage as an Electro element character.

Yae Miko is a 5-star character added during the 2.5 version update, 'When the Sakura Bloom'. Yae Miko is an Electro element character that provides continuous damage while off-field, and is characterized by dealing significant damage through her Elemental Burst.

In addition, the Hu Tao and Yelan rerun update showed a significant chart difference when comparing domestic and global markets. During the same update period, the global market was similar to previous updates, while the domestic market rose relatively sharply. As Hu Tao and Yelan were better received domestically, it is interpreted that expectations were reflected.

The update with the most returning users was the 1.2 update on December 23, 2020, which opened the new area 'Dragonspine'. At this time, the new characters Albedo and Ganyu were also added. The new Dragonspine is a frozen mountain range south of Mondstadt, and was well-received for its detailed setting of the 'Sheer Cold' environment. The return rate for Dragonspine is 15.6%.

The 'Genshin Impact' 1.4 version update in March 2021 also achieved a return rate of 15.1%. The 1.4 update includes the 'Windblume Festival', the new 4-star weapon 'Windblume Ode', and the addition of the 4-star character 'Rosaria'. At the time, miHoYo allowed players to see special stories and various endings with characters such as Barbara, Noelle, Bennett, and Chongyun. In addition, convenience updates were implemented, such as storing up to 5 Condensed Resin in the inventory and adjusting the World Level for new users.

The 'Lantern Rite' in January 2022 and 'A Summer Sea Sojourn' in July showed a return rate of 10.5%. Lantern Rite is a festival within the Genshin Impact world, with major events taking place. During the July update, the 'Kazuha' rerun event, which was highly regarded at the time, took place. In addition, expectations were raised by foreshadowing the new region of Sumeru.

In the rating survey, the keywords 'god game', 'quality', 'lack of storage space', 'optimization issues', and 'plagiarism' stood out.

Analyzing 5-star reviews, the game is mainly praised as a 'god game' and '꿀잼' (super fun). Evaluations such as 'I love it' and 'It's fun' are also seen. The evaluation of completeness, 'The quality is good,' also accounts for a significant portion. There were also many evaluations mentioning 'event', highlighting the characteristics of the 'Genshin Impact' service.

On the other hand, 1-star reviews mentioned issues with storage space, probability problems, and plagiarism controversies. The base capacity of 'Genshin Impact' is around 10gb on mobile, and there is additional data depending on the mission. It seems that the capacity itself is a barrier to entry before playing the game. Probability is interpreted as a business model, and plagiarism is interpreted as an indication of similarities with some major games.

Sensor Tower stated that 'Genshin Impact' was the No. 1 game in total consumption time in South Korea last year. Total consumption time in November last year increased by 117% compared to January. During the same period, it was approximately 2.9 times higher than the total consumption time of 'FIFA Online 4 M'. Sensor Tower said, "It has been confirmed that Genshin Impact's user engagement (immersion ability) is higher than other mobile games in the top revenue rankings."

A Sensor Tower official said, "The periodic updates and new character reveals that Genshin Impact is conducting will be an important source for continuing its success. In addition, miHoYo has announced that Genshin Impact will be playable not only on mobile and PC, but also on PlayStation and Nintendo Switch, and the addition of platforms is expected to play a pivotal role in its long-term success."

Webzine InvenLee Doo-hyun Reporter
2023-06-08