Mobile game monetization is an intricate balancing act between optimizing revenue channels and ensuring a seamless gaming experience. While some mobile game companies prioritize player retention and engagement, others may be hesitant to maximize their titles' monetization potential due to lack of awareness about alternative approaches.
As we examined the list of highest-grossing mobile games in the first half of 2024, it became clear that publishers employ drastically different monetization strategies. Some rely heavily on in-app purchases (IAPs), while others focus on in-app ads or native brand integrations.
In this article, we'll delve into the AI-powered monetization approaches adopted by top-earning publishers and share takeaways for gaming studios planning and testing their app monetization strategies.
Highest-Grossing Mobile Games of 2024
As the mobile gaming market enters its second half in 2024, the highest-yielding titles are emerging. Appmagic estimates provide valuable insights into the revenue frontrunners, offering a glimpse into the general state of mobile publisher revenue.
Some titles on the list, such as Honor of Kings and PUBG Mobile, have long been top-earning mobile game revenue frontrunners. Others, like Monopoly GO! and Royal Match, entered the top-10 for the first time.
There's a slight genre preference for online battle games and puzzles, but overall, the genres on the list are diverse. With many new titles vying for market dominance, offering innovative experiences is becoming an increasingly important driver of user acquisition and revenue.
To understand the tactics publishers use to drive revenue to the top-10 highest-grossing titles worldwide, we'll examine game economics and mobile game monetization strategies that increase earnings.
Monetization Strategies of the Highest-Grossing Games in 2024
- Honor of Kings
Key statistics:
Revenue since the beginning of 2024: $961 million
Monthly active users (Q2, 2024): 137 million
Number of downloads (January-August 2024): 42 million
Mobile game monetization strategies:
In-game currency: Tencent uses a virtual currency that allows users to purchase weapons and powers. Honor of Kings launches limited gacha sales in seasonal festivals to create a sense of urgency.
Brand collaborations: In 2024, Honor of Kings expanded the list of brand partnerships, allowing advertisers to create unique in-game experiences to drive brand awareness and attract purchase-ready customers.
E-sport involvement: Honor of Kings is highly valued in Chinese e-sports. The game is at the core of highly anticipated tournaments, such as The King Pro League and the Honor of Kings International Championship.
Takeaways for publishers:
Aside from developing a robust IAP-based mobile game monetization, Honor of Kings appeals to advertisers as a gateway to APAC. The company promises a highly engaged multi-million audience to brands who want to improve brand awareness in the region.
Likewise, Tencent centers its offering on the demographics of its audience. Most Honor of Kings players are 18-30 years old, allowing the company to differentiate itself from other channels in targeting Gen Z.
- Monopoly GO!
Key statistics:
Revenue since the beginning of 2024: $704 million
Monthly active users in 2024: over 8 million
Number of downloads (Q3, 2024): 4 million
Mobile game monetization strategies:
In-app purchases: Monopoly GO! offers users paid boosts and power-ups that improve the gaming experience. Here are the key types of in-app purchases Monopoly GO! players make:
Virtual currency users spend on game assets (e.g., houses or hotels). Game designers package these offerings in limited bundles to stimulate a sense of urgency.
Powerups that help players increase the odds of acquiring
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