miHoYo earned almost $800 million last year, all thanks to Genshin Impact success

The world found out about Chinese studio miHoYo after it released Genshin Impact in 2020. The game’s success helped the studio double its revenue and earn almost $800 million.

miHoYo co-founder Cai Haoyu opened up about the big numbers in an online address to alumni of Shanghai Jiaotong University. The studio reached more than ¥5 billion ($774 million) in 2020 and almost doubled year-over-year, according to a Gamesinudustry.biz report.

Of course, Genshin Impact was the main driver of this huge growth. The game’s success made miHoYo hire 1,010 employees more, which is 70% more than the company had in 2019. Now the studio has 2,400 people.

Genshin Impact was released last September and generated $60 million on mobile platforms in its first week. The game became the biggest global launch of a Chinese game in history and, according to Sensor Tower, earned $400 million in revenue by December on iOS and Android alone.

miHoYo’s game is also available on PC, PS4, and Nintendo Switch. However, the studio doesn’t disclose its earnings on these platforms.