According to Newzoo, mobile games generated $93.2 billion in 2021, an increase of 7.3 per cent year-over-year. Overall, mobile games accounted for 52 per cent of worldwide player spending in 2021.
By revenue, the APAC region leads the way, accounting for 64 per cent of global consumer spending.
Unsurprisingly, this is due to the colossal consumer spending in China and Japan, which are the first and third highest grossing countries for mobile games spending at $31.8 billion and $13.7 billion respectively. The US was the second highest grossing country at $15.1 billion.
Newzoo has projected that by 2024, mobile games consumer spending will grow to $116.1 billion, continuing to outpace PC and consoles revenues. Additionally, Newzoo predicts that Latin America and MENA will be the fastest growing mobile games markets by 2024.
TikTok boosts player spending
Additionally, Newzoo found that users of social media app TikTok are more likely to spend more time playing mobile games, are 66 per cent more likely to spend on mobile games, and 40 per cent more likely to pay for add-ons.
Furthermore, TikTok users play a broader range of mobile game genres than non-TikTok users, at an average of 7.1 genres and 4.2 genres respectively. TikTok users are more likely to play core games and RPGs, compared to a puzzle and casual game preference of non-TikTok users.
The report highlights that with a user base of over one billion, TikTok is a hotspot for mobile games user acquisition, with 42 per cent of users stating that they use the platform to discover new games.