The sun never sets on Tencent’s gaming empire · TechNode

If you’ve read TechNode for any length of time, you’d know that Tencent, one of the world’s ten largest companies, has a massive video game empire. It owns stakes in the following game publishers and developers:

  • 100% of Riot Games
  • 100% of Sharkmob
  • 84% of Supercell
  • 80% of Grinding Gear Games
  • 40% of Epic Games
  • 36% of Fatshark
  • 29% of Funcom
  • 20% of Sea
  • 15% of Glu Mobile
  • 14% of Kakao
  • 12% of Bluehole
  • 9% of Frontier Developments
  • 5% of Activision Blizzard
  • 5% of Ubisoft

That’s impressive. But, by my reckoning, the most notable aspect of Tencent’s video game empire is that it’s invested in assets across the entire video game value chain. 


Michael Norris is a TechNode contributor and Research and Strategy lead at AgencyChina. He holds no position on the stocks mentioned in this article.

You see, Tencent’s the only video game company that has ownership of developers that make games, the channels where games get distributed and the digital entertainment platforms where gamers watch gameplay. This means Tencent has deep moats to defend its game empire against present and emerging competitors, especially ambitious domestic rivals Netease and Bytedance.  

There’s a lot to unpack here, so let’s start with the video game value chain. 

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