Source: Game Trunk
China's game market, as one of the largest in the world, has always been the focus of the industry. In the early morning of January 26, 2024, the National Press and Publication Administration suddenly released the January 2024 edition number, which has reviewed a total of 115 games, including 58 in the "mobile-casual puzzle" category. This is the second time that the number of editions issued in a single month has exceeded 100 after 105 models were issued in December 2023.
This edition issued a large amount of numbers, and the time was unconventional (the first time the edition number was issued in the middle of the night), which sent a positive signal to the outside world. Moreover, the products that have passed the review this time also include Lilith's "Awakening of Ten Thousand Dragons", Youzu Network's "My Three-Body Problem: 2277", Tencent's "Bloody American Professional Basketball", Eagle Horn Game "Bom Poom" and other works that have attracted much attention.
Affected by this, game-related stocks also ushered in a rebound at the opening today, and the game industry seems to be about to return to its former vigor. However, standing in 2024, in the face of changes in residents' consumption structure, the social background of population aging and declining birth rate, as well as the adjustment of the national policy on the issuance of game licenses, and the changing social attitude towards games, China's game market has much more to consider than in the era of high growth.
Adapting to consumer trends and demographic shifts
The Chinese gaming market in 2024 will face unprecedented challenges. With the slowdown in economic growth, consumption downgrade has become a trend that cannot be ignored, and residents' spending power has generally declined, which has directly affected the overall performance of the game market. The unemployment of a large number of people and the fluctuating layoffs of gaming companies have further highlighted the uncertainty in the industry.
In such a market environment, gaming companies may need to rethink their pricing strategies. For example, replace the previous high ARPU model with a small universal payment model, reset the price on game items, or refer to the discount recharge strategy of "WarFream", or the diamond financial management of "QQ Speed Racer Game".
At the same time, in the face of the pressure of the job market in the whole society, game companies can explore new business models. For example, a gaming company can use social responsibility programs to enhance its brand image and carry out activities to create some social jobs. For example, Tencent donated future classrooms and playgrounds to remote areas, which has brought some education jobs in disguise.
In addition, the aging population and declining birth rate have a long-term impact on the gaming market. This isn't something to think about immediately in 2024, but the industry should be on its toes. On the one hand, the aging society has promoted the development of leisure and wellness games, providing new market opportunities for game developers. On the other hand, the decline in the number of young players requires game companies to pay more attention to retaining existing users in game design and opening up the market of middle-aged and older players.
Of course, if the spending power of Chinese residents can be improved in 2024, then things will be much simpler - as the middle class grows, gamers can afford to consume these products while the demand for high-quality game content is growing, and game developers can pay more attention to game quality, storytelling and immersion, and develop more refined and in-depth game products.
Issuance of edition numbers and industry supervision
Over the past few years, China's gaming industry has undergone significant changes in its licensing policy. From the suspension of license approval in 2018, to the resumption of license approval in 2019, to the strict control of the number of license numbers in the following years, this series of policy fluctuations has had a profound impact on the game industry.
Looking back at the period from 2021 to 2023, the general trend of license issuance is conservative and slow, and the government is mainly focused on the health and positive value of game content. As a result, game companies are facing great uncertainty in product planning and marketing, and some game development projects have been delayed or cancelled, affecting the overall investment and innovation vitality of the industry.
However, in 2023, the frequency of issuing game version numbers will be relatively fixed, and the number of issuance will also increase significantly. The recent release of licenses shows that the government is beginning to show greater transparency and stability in the approval of license licenses, which provides a clearer market expectation for gaming companies. At the same time, the government's support for high-quality content and innovative games has brought new development opportunities to the industry. So while overseas analysts are concerned about China's game policy fluctuations, domestic practitioners have relatively ample confidence in the industry.
△ Weibo @ posted the game version number today
On the one hand, Chinese game companies are constantly improving the social value of games and enhancing the cultural connotation and social value of games in a policy-oriented manner, while on the other hand, companies are beginning to explore overseas markets to diversify policy risks and seek new growth points.
Despite the challenging policy environment, the overall confidence of the industry has not been fundamentally shaken. The industry generally believes that as long as it can continue to adapt to policy guidance, insist on innovation and improve product quality, the Chinese game market will be able to continue to maintain its vitality and competitiveness.
At the policy level, although game companies are facing many challenges and uncertainties, the industry as a whole has shown adaptability and resilience by constantly adapting and actively responding to policy changes. With the gradual stabilization and optimization of the policy environment, China's game market is expected to usher in new vitality and development space in the new year.
Social attitudes and public opinion recognition
Attitudes towards games are also changing. From early skepticism and apprehension to the current recognition of games as an important part of the cultural and creative industries, games are increasingly being seen as a legitimate form of leisure and cultural experience. In 2024, with the popularity of game formats such as e-sports and the rise of domestic game brands, it is expected that the acceptance of games in society will further increase.
However, gaming companies still need to strive to create a positive image and improve the social image of the gaming industry and promote the healthy development of the industry by providing educational and positive gaming content.
In fact, in China in 2024, the gaming industry is still facing negative perceptions from a segment of the public. Gaming is seen as a "guilty" form of entertainment by some, who believe that gaming distracts teens and affects their academic performance. At the same time, the phenomenon of high salaries for gaming companies exacerbates a sense of social injustice in the eyes of some, even though such high salaries are often a market reward for technology and innovation.
However, in general, China's public opinion has become more aware of the game industry, and after the introduction of the national regulations on the protection of minors and the strict control of minors' gaming time, the problems related to minors have been greatly reduced, and the attitude of public opinion towards games has eased a lot.
And it must be pointed out that short videos have helped the game share a lot of public opinion pressure.
epilogue
The Chinese game market in 2024 will be a market full of changes and opportunities. In the face of consumer upgrading, demographic changes, policy regulation and social sentiment changes, the game industry needs to show greater flexibility and innovation. Only by constantly adapting to changes in the market and policy environment can we stand out in the highly competitive game market and win future development.