Tencent Launches New American Gaming Studio for Global Appeal

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HONG KONG (Reuters) – Tencent Holdings, China’s largest social media and video game company, launched a new studio in California this week with the aim of expanding its presence overseas.

FILE PHOTO: A Tencent sign is visible at the World Internet Conference in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS / Aly Song / File Photo

The new studio, LightSpeed ​​LA, will be led by former Rockstar veteran Steve Martin and focus on developing and publishing AAA titles, LightSpeed ​​and Quantum Studios of Tencent Games said in a statement to Reuters.

“We are ushering in a new era of gaming culture by combining world-class development with a stress-free work environment,” said Martin in the release.

Tencent is trying to build a range of overseas studios with the goal of creating content with original intellectual property that has global appeal.

The launch is also the company’s latest initiative in a strategy to get half of its gaming revenue from abroad, a category that accounted for about 23% of its online game sales in the fourth quarter.

The company recently hired lead designer for Halo 4, Scott Warner, to lead another newly created studio, grouped under TiMi Studios, the maker of Arena of Valor and Call of Duty: Mobile.

Tencent is also the owner of the creator of League of Legends, Riot Games, and has majority control of the maker of Clash of Clans Supercell.

The new Orange County studio has hired creative talent from Rockstar Games, Sony VASG, Respawn Entertainment, 2K Games and Insomniac.

Last week, Tencent unveiled plans for more than 40 game products, from a release of Mobile Dungeon & Fighter to an unnamed mobile game Metal Slug in partnership with SNK Corp.

He also announced a cross-platform Pokémon team fighting game that works on Nintendo Switch’s Switch console and on mobile devices.

Tencent Holdings shares climbed more than 8% this week to reach an all-time high of HK $ 521 after the announcement of the new games.

Report by Pei Li; Editing by Clarence Fernandez

Our standards:Principles of the Thomson Reuters Trust.

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