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MiHoYo revenue reportedly close to $800m in 2020

Genshin Impact drove huge sales and headcount growth at the Shanghai-based firm

MiHoYo earned almost $800 million in revenue in 2020, thanks to the success of its breakout hit Genshin Impact.

In an online address to alumni of Shanghai Jiaotong University, MiHoYo co-founder Cai Haoyu revealed some key statistics from a big year for the Shanghai-based firm.

In his speech -- which was not open to the public, but was seen by the Chinese website GameLook -- Cai said the company's revenue doubled over the prior year, reaching more than ¥5 billion ($774 million). That growth was driven by Genshin Impact, and is all the more remarkable for the fact that the game only launched in September 2020.

MiHoYo also significantly grew its headcount in response to Genshin Impact's success, rising 70% to 2,400 people by the end of 2020.

Bloomberg approached MiHoYo for official confirmation of the details given in Cai's speech, but the request was declined.

Last year, Genshin Impact enjoyed the biggest ever international launch for a Chinese-made game. The data firm Sensor Tower estimated that it earned $400 million in revenue in its first two months on Google Play and the App Store alone.

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Matthew Handrahan avatar
Matthew Handrahan: Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.
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