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Sources: ByteDance shuts down its Shanghai games studio, in a setback to its gaming ambitions after struggling to make a splash in the Chinese gaming market

Bloomberg : Tweets: @pingroma , @pingroma , and @caixin Tweets: Zheping Huang / @pingroma : What does this mean for ByteDance gaming? Well, it's not easy to make the next Genshin Impact or Honor of Kings. And China's new game hiatus (lifted only in April) and economic slowdown didn't help. https://www.bloomberg.com/... Zheping Huang / @pingroma : TikTok's Chinese owner had previously curtailed some gaming projects, but this is the first time the co. has shut down a development unit altogether. Its 300-person studio in Shanghai was born out of a $16M takeover of developer Mokun. https://www.bloomberg.com/... @caixin : ByteDance shut down game development unit 101 Studio, slashing more than 100 jobs in a major setback for its quest to challenge Tencent in mobile gaming. https://www.caixinglobal.com/ ...

Bloomberg

Discussion

  • @pingroma Zheping Huang on x
    What does this mean for ByteDance gaming? Well, it's not easy to make the next Genshin Impact or Honor of Kings. And China's new game hiatus (lifted only in April) and economic slowdown didn't help. https://www.bloomberg.com/...
  • @pingroma Zheping Huang on x
    TikTok's Chinese owner had previously curtailed some gaming projects, but this is the first time the co. has shut down a development unit altogether. Its 300-person studio in Shanghai was born out of a $16M takeover of developer Mokun. https://www.bloomberg.com/...
  • @caixin @caixin on x
    ByteDance shut down game development unit 101 Studio, slashing more than 100 jobs in a major setback for its quest to challenge Tencent in mobile gaming. https://www.caixinglobal.com/ ...