NetEase generated RMB 112.6 billion ($16.1 billion) in FY2025 net revenue, with its games segment alone reaching RMB 92.1 billion ($13.2 billion), up 10.1% year-on-year. Marvel Rivals hit 40 million registered players within two months of its December 2024 launch — six times the count Overwatch 2 reported at its own debut. This article covers verified financial figures, game-level metrics, and platform splits drawn from NetEase earnings disclosures and SEC filings.
NetEase Games Statistics 2026 – TLDR;
- NetEase games segment revenue reached RMB 92.1 billion ($13.2 billion) in FY2025, growing 10.1%.
- Total company revenue hit a record RMB 112.6 billion ($16.1 billion) in FY2025.
- Marvel Rivals reached 40 million registered players by February 2025 after a December 6, 2024 launch.
- PC client games revenue grew 17% in FY2024 and surged 57% in Q4 alone.
- Where Winds Meet hit 80 million cumulative players worldwide by the end of FY2025.
How Much Revenue Did NetEase Games Generate in FY2025?
NetEase reported FY2025 total net revenue of RMB 112.6 billion ($16.1 billion), a 6.9% rise from the FY2024 record of RMB 105.3 billion. The games segment grew faster than the overall business, climbing from RMB 83.6 billion to RMB 92.1 billion year-on-year.
Gross profit in FY2024 came in at RMB 65.8 billion ($9.0 billion), up 4.2%, while net income reached RMB 29.7 billion ($4.1 billion). Live player count data for the company’s flagship title is tracked on the Marvel Rivals player count tracker.
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Total net revenue (RMB) | 103.5B | 105.3B | 112.6B |
| Games revenue (RMB) | ~81.6B | 83.6B | 92.1B |
| Games revenue (USD) | ~$11.2B | $11.5B | $13.2B |
| Games YoY growth | — | +2.4% | +10.1% |
Source: PRNewswire NetEase Q4 FY2024 release; GamesIndustry.biz citing NetEase FY2025 results
NetEase Games Statistics 2026: Quarterly Performance
Q4 FY2024 revenue came in at RMB 26.7 billion ($3.7 billion), down 1.4% year-on-year as games revenue rose 1.5% but the three non-gaming segments contracted. Operating expenses fell 15.1% to RMB 8.5 billion, lifting net income efficiency. PC client games revenue jumped 57% in Q4 alone, driven by the Marvel Rivals launch on December 6.
| Q4 FY2024 Metric | Figure | YoY Change |
|---|---|---|
| Total revenue | RMB 26.7B ($3.7B) | -1.4% |
| Games revenue | RMB 21.2B ($2.9B) | +1.5% |
| Youdao revenue | RMB 1.3B | -9.5% |
| NetEase Cloud Music | RMB 1.9B | -5.3% |
| Innovative businesses | RMB 2.3B | -17.0% |
| Net income to shareholders | RMB 8.8B ($1.2B) | — |
Source: NetEase Q4 FY2024 earnings release via PRNewswire, February 20, 2025
NetEase Games Revenue Mix and Platform Breakdown
Online games made up 96.2% of gaming segment revenue in FY2024, up from 92.9% in FY2023. Mobile titles accounted for 72.7% of online game revenue, slipping from 75.2% the prior year — not because mobile shrank in dollar terms, but because PC games grew 17% over the full year. The FY2025 update pushed online games to 97.3% of the gaming segment.
| Platform/Mix Metric | FY2023 | FY2024 |
|---|---|---|
| Online games share of gaming revenue | 92.9% | 96.2% |
| Mobile share of online game revenue | 75.2% | 72.7% |
| PC share of online game revenue | ~24.8% | ~27.3% |
| VIE share of total net revenue | — | 87.2% |
Source: PRNewswire; NetEase Form 20-F FY2024, SEC EDGAR
Blizzard titles returned to China on February 19, 2025, with World of Warcraft, Hearthstone, and Overwatch 2 contributing to a record annual revenue figure for those titles in FY2025. Broader Steam platform statistics show how PC titles perform alongside re-issued releases.
Marvel Rivals Player Statistics 2026
Marvel Rivals reached 10 million registered users within 72 hours of its December 6, 2024 launch and crossed 40 million by February 2025. The Steam concurrent peak hit 664,815 in January 2025. Average daily players have since cooled from 315,248 in January to 65,627–72,748 across October–November 2025, with a +8.16% rebound in the most recent 30-day window.
| Marvel Rivals Milestone | Figure | Timeframe |
|---|---|---|
| Registered users at launch +72 hours | 10 million | 3 days |
| Registered users at launch +2 weeks | 20 million | 14 days |
| Registered users by February 2025 | 40 million | ~2 months |
| Steam all-time peak concurrent | 664,815 | January 2025 |
| Avg daily players (Jan 2025 peak) | 315,248 | January 2025 |
| Avg daily players (Oct–Nov 2025) | 65,627–72,748 | Oct–Nov 2025 |
Source: NetEase Q4 FY2024 release; Statista citing NetEase; Icon Era player tracking data
Marvel Rivals runs free-to-play across PC (Steam and Epic), PlayStation 5, and Xbox Series X|S. The launch number was six times what Overwatch 2 reported at its own release. The all-time concurrent peak ranked among the year’s biggest entries on the Steam concurrent player records chart, set against wider global gaming industry revenue figures.
Where Winds Meet and Other NetEase Game Statistics
Where Winds Meet grew from 15 million players in Q4 FY2024 to 80 million cumulative worldwide by the end of FY2025 — the largest verified single-title player base expansion across NetEase’s portfolio in the period. Naraka: Bladepoint and licensed titles were also called out as PC revenue drivers. NetEase’s net cash position rose 18.6% to RMB 131.5 billion in FY2024.
Naraka: Bladepoint and licensed titles were also called out as PC revenue drivers in the FY2024 earnings call. The broader video game market data for 2026 places these NetEase figures next to global peers like Tencent, Sony, and Microsoft.
FAQs
How much revenue did NetEase Games make in FY2025?
NetEase’s games segment generated RMB 92.1 billion ($13.2 billion) in FY2025, up 10.1% year-on-year. Total company net revenue hit RMB 112.6 billion ($16.1 billion), a 6.9% rise from FY2024.
How many players does Marvel Rivals have?
Marvel Rivals reached 40 million registered players by February 2025, two months after its December 6, 2024 launch. The Steam all-time peak concurrent player count is 664,815, recorded in January 2025.
What share of NetEase games revenue comes from mobile?
Mobile games accounted for 72.7% of NetEase’s online game revenue in FY2024, down from 75.2% in FY2023. The shift reflects faster PC growth, not a mobile decline — PC client revenue rose 17% over the full year.
How big is Where Winds Meet?
Where Winds Meet reached 80 million cumulative players worldwide by the end of FY2025, up from 15 million reported in Q4 FY2024. That makes it the largest single-title player base expansion in NetEase’s portfolio during the period.
How does Marvel Rivals compare to Overwatch 2 at launch?
Marvel Rivals registered six times more players than Overwatch 2 reported at its own launch, based on NetEase disclosures. It hit 10 million users in 72 hours and 20 million in under two weeks.
Citations
https://www.prnewswire.com/news-releases/netease-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-302381319.html
https://www.statista.com/statistics/1551700/marvel-rivals-players/
https://www.gamesindustry.biz/netease-q4-2024-financial-results
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001110646&type=20-F
