The November mobile game battle report is out, and the numbers are a bit staggering—out of the TOP 100 global game publishers by revenue, 33 are from the East. These 33 companies pulled $1.95 billion from players’ wallets worldwide in a single month, which is about 14 billion RMB.

Even more impressive is their share: 35.8% of the total revenue of the world’s top 100 gaming companies. What does that mean? For every $10 generated by the global gaming industry, nearly $4 flows to these companies. That’s one more company joining the list compared to last month, and their earning power is still climbing.

**Performance of a Few Money-Making Players**

Tencent is still Tencent, firmly holding the top spot in the revenue rankings. With the launch of the new season of “Delta Force,” daily revenue set a new record, bringing in nearly $80 million globally in November—making it one of the most lucrative games right now.

Diandian Interactive ranks second globally, the leading player among overseas games. Its “Whiteout Survival” has accumulated over $3.8 billion in global revenue, and its new release “Kingshot” is also gaining momentum. The dual-hit model is working.

Glacier Network is this year’s dark horse. Its new game “X-Clash” saw revenue soar 200% month-over-month, directly boosting the company's global revenue by 45% and putting it back in the spotlight.

**What’s Behind These Numbers?**

First, going global is no longer an elective—it’s a survival requirement. For many publishers, their main revenue already comes from overseas markets. Creating products that cater to diverse cultural tastes is the core logic behind their growth.

Second, it’s not just old IPs living off their legacy. New hits continue to emerge, showing the industry’s ability to generate fresh successes, not just resting on its laurels.

**Is the Industry at a Turning Point?**

With regular game license approvals, AI technology reducing costs and increasing efficiency, and global expansion channels widening, pessimism in the gaming sector may be starting to lift. When sentiment bottoms out along with earnings, that’s often an opportunity window.

From an investment perspective, several angles are worth attention:

Industry leaders like Tencent Holdings and NetEase-S have strong foundations and will be the first to benefit from any market rebound.

Overseas pioneers such as Century Huatong( (parent of Diandian Interactive)) and Shenzhou Taiyue( (holder of Kemu Games)) are especially worth researching, as their commercial models have been proven internationally.

In specialized segments, categories like merge games and SLG strategy games have already produced companies with replicable profit models.

This isn’t just a victory for a few games; it’s a testament to the global competitiveness of the digital content industry. With performance data like this, a value re-rating may be just around the corner.

Which company do you think has the most imaginative overseas story? Is it the steady approach of the giants, or the wild growth of niche champions?