Two years after its launch, miHoYo’s global hit Genshin Impact remains one of the highest-grossing mobile games. It is also the largest title with gacha monetization by player spending.

September 28 marked the second anniversary of Genshin Impact. Sensor Tower released a new report, calculating the game’s revenue and sharing other data.

  • Genshin Impact reached $3.7 billion in total player spending on mobile. It is up $100k from the August data.
  • It has been the third highest-grossing mobile title globally since its launch on September 28, 2020, right behind Tencent’s biggest hits, PUBG Mobile ($4.9 billion) and Honor of Kings ($5.5 billion).
  • China accounted for 33% of Genshin Impact’s total mobile revenue ($1.2 billion), followed by Japan (24%) and the US (17%).
  • Excluding China, Genshin Impact is the second mobile title by player spending, above Candy Crush Saga ($2.3 billion) and behind Roblox ($2.5 billion).
  • According to Sensor Tower, miHoYo’s game has also been the number one gacha game by revenue since 2020, followed by Rise of Kingdoms ($1.7 billion) and Three Kingdoms Strategic ($1.7 billion).
  • Even though the mobile games market is experiencing a downturn in 2022, Genshin Impact managed to continue its growth.
  • In the first and second quarters, the game generated $556 million (up 16% year-over-year) and $413.5 million (up 28%), respectively. However, analysts point out that its revenue could decline in the third quarter.

Sensor Tower called Genshin Impact the most significant new IP launch on mobile since Honor of Kings, adding that miHoYo succeeded by “combining an effective gacha monetization system with an almost industrial scale live operations strategy supplying regular content updates and popular new characters.”