Tencent introduces new US game studio to attract global market
HONG KONG (CHINA) – China’s biggest social media and video game company, Tencent Holdings introduced a new California-based studio this week. With this, it is looking to further expand its presence overseas.
Former Rockstar veteran Steve Martin will be leading the new studio, LightSpeed LA. Development and publishing of AAA titles, Tencent Games’ LightSpeed and Quantum Studios will be its focus, as said in a statement to Reuters.
Martin said in the statement, “We’re ushering in a new era of game culture by combining world-class development with a stress-free work environment.”
Tencent is trying to bring an array of studios overseas with the objective of creating content having original intellectual property that strikes a chord with global appeal.
The launch is also the firm’s new move to derive half its revenue from games coming from overseas. This in turn accounted for about 23% of its fourth-quarter online game sales.
The company has most recently hired Halo 4 lead designer Scott Warner to head another newly-minted new studio grouped under TiMi Studios, the maker of Arena of Valor and Call of Duty: Mobile.
Tencent also owns League of Legends creator Riot Games, and has majority control of Clash of Clans maker Supercell.
Creative talent from Rockstar Games, Sony VASG, Respawn Entertainment, 2K Games, and Insomniac has been hired by the new studio in Orange County.
Tencent introduced plans last week for more than 40 game products, starting from a release of Mobile Dungeon & Fighter to an unnamed Metal Slug mobile game in partnership with SNK Corp.
Announcement about a cross-platform Pokemon team battling game operating on Nintendo Co Ltd’s Switch console and on mobile was also made.
Shares of Tencent Holdings rose to more than 8% this week to a historic HK$521 after the announcement of the new games.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.