Buzz
Has miHoYo's golden age begun to show signs of decline?
miHoYo's blockbuster games are flopping heavily at the beginning of the year
In the Gacha game segment, there is currently no name that can surpass miHoYo. With major hits like Genshin Impact, Honkai: Star Rail, and Zenless Zone Zero, miHoYo continues to dominate revenue charts, not only in the domestic market (China) but globally as well.
However, within the very first month of 2025, miHoYo's game revenues have been steadily declining, even dropping out of the top 10 best-selling games in several countries. Let's take a look at the rankings below:
Genshin Impact is on the brink of falling out of the top 10 in China. Meanwhile, in Japan, one of miHoYo's largest international markets, the situation is even worse. Honkai: Star Rail ranks in the top 7, Genshin Impact has disappeared, and both games are being outperformed by Blue Archive, an older, less popular Gacha game.
Why is the drop in miHoYo's revenue considered alarming?
This is because, recently, miHoYo's games have been experiencing explosive periods. While Honkai: Star Rail just launched its major version 3.0, Genshin Impact has been even more vibrant with the release of the highly anticipated Banner for the God of Fire.
Despite having such impressive content, the revenue for miHoYo's two major titles has been disappointingly low, raising alarms for the company at this time. Has miHoYo's popularity started to wane? Can the brand recover and reclaim its former position with upcoming updates?
