Tencent Expresses Concern Over Future of Gaming Business Despite $21 Billion Revenue in 2023
CEO Pony Ma acknowledges significant challenges from competitors, while company makes strides in AI development.
- Tencent, the world's largest gaming company, has expressed concern over its future in the gaming industry, with CEO Pony Ma stating that the company has 'achieved nothing' in 2023 despite making $21 billion from games.
- Ma has acknowledged the significant challenges faced by the company, particularly from competitors who continue to produce new products.
- Despite the challenges, Tencent's gaming business has performed well financially, with revenues of $21 billion in the first 9 months of 2023.
- Tencent owns stakes in several major game developers, including Riot Games, Funcom, Epic Games, and Grinding Gear Games.
- In addition to its gaming business, Tencent has also made strides in AI development, with Ma stating that the company is now able to 'follow the pace' of leading companies.