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<Research>Citi Expects TENCENT, NTES-S to Benefit from Google Play Revenue Sharing Reform
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Citi released a research report indicating that the reform of Google Play's policy could mark a significant milestone in the fee structure of mobile platforms. In Citi's estimate, this reform may benefit Chinese gaming companies with substantial overseas mobile distribution businesses and encourage more studios to explore overseas opportunities. As Google Play splits the standard 30% in-app purchase service fee into a 20% service fee under new installations or specific incentive plans, and an optional 5% billing fee charged by Google's billing system, this could lead to a gradual improvement in gross margins for gaming companies, depending on their domestic/ overseas and platform mix. Within its coverage, Citi believes this reform could benefit leading gaming companies such as TENCENT (00700.HK) and NTES-S (09999.HK), as well as companies with a significant proportion of overseas business, particularly CENTURY HUATONG (002602.SZ). AAStocks Financial News |
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