China video games revenue reaches new low

China’s mobile game sales in the third quarter plunged to their lowest since the start of the COVID-19 pandemic, with tightened industry regulations weighing on what is traditionally a peak season for video gaming as schools break for summer, reports the South China Morning Post.

Total sales in the Chinese video gaming market declined to RMB 59.7 billion ($8.23 billion) between July and September, down 19.1% from RMB 73.8 billion in the same period last year, according to a report on Friday by Chinese video gaming intelligence firm CNG.

Sales also fell 12.6% from the previous quarter, when the industry brought in RMB 68.3 billion in revenue.