miHoYo
Developer and publisher of cross-platform live-service games.
Available information varies by company and source.
Profile record updated:
Company facts
- Official name
- Shanghai miHoYo Network Technology Co., Ltd.
- Entity type
- COMPANY
- Founded
- 2012
- Headquarters
- China
- Company size
- >5,000
- Market role
- Publisher & Media Owner
- Official website
- mihoyo.com
What miHoYo does
miHoYo operates as a consumer games studio and publisher that funds development of proprietary IP, launches free-to-play titles across multiple platforms, and then monetises player engagement over long content lifecycles. It creates value through original game worlds, character rosters, live-service operations, and cross-title ecosystem engagement, with revenue concentrated in high-spending digital users rather than upfront game sales.
Category differentiation
miHoYo is a game developer and publisher, not an adtech, martech or enterprise software vendor. It should also be distinguished from its HoYoverse publishing brand, which is a consumer-facing label within the same ecosystem.
Strategic context
AI-supported assessment from the existing company research; distinguish interpretation from sourced facts.
miHoYo is a Chinese video game developer and publisher focused on anime-styled, cross-platform live-service games. Its portfolio includes Genshin Impact, Honkai: Star Rail, Honkai Impact 3rd, Zenless Zone Zero, Tears of Themis and related launcher infrastructure. The company creates and operates its own intellectual property, distributes games across mobile and PC, and serves a global player base centred on RPG, action and narrative game audiences. The business is primarily monetised through free-to-play in-app purchases, especially gacha-driven spending on characters, weapons and virtual items, supported by ongoing content updates, events and retention loops. Its direct customers are consumers rather than enterprises, and value creation depends on sustained franchise engagement, live operations, and repeated monetisation across a small number of high-performing titles.
Company news briefing
Briefing updated:
miHoYo continues to advance its direct-to-consumer monetisation strategy, maintaining its presence among top-grossing mobile publishers. Its title Zenless Zone Zero has surpassed $603 million in lifetime mobile revenue despite a second-year spending decline, and was recently showcased by Apple alongside Azra Games to demonstrate high-performance gaming capabilities on the new foldable iPhone Duo. Additionally, the developer is expanding its portfolio with the closed beta testing of Honkai: Nexus Anima.
Business model & monetisation
The company primarily uses a free-to-play monetisation model built around in-app purchases and gacha mechanics. Players buy virtual currency and spend on probabilistic draws for characters, weapons or items, with additional revenue from battle passes, limited-time bundles, event-linked offers and cosmetic or progression-related purchases. Commercial performance is strengthened by live-service updates, frequent content drops, seasonal events and strong retention loops across flagship franchises.
- In-app purchases via gacha mechanics
- One-time Sale
- Battle passes and event-linked bundles
- One-time Sale
- Cosmetic and progression-related purchases
- One-time Sale
- Advertising or launcher-based promotional monetisation
- Ad-Supported
Products & capabilities
No products with linked sources are available in this view.
Products & market categories
Media Channel
Technology
Competitors & alternatives
- Miniclip
Mobile games publisher and studio group with portfolio monetisation scale.
- SEGA
Japanese games publisher and IP owner across console, mobile and anime.
- Konami
Japanese entertainment group spanning games, casino systems, and fitness.
Side-by-side comparisons
Recent recorded signals
Dates refer to the source publication. Older entries are historical context, not evidence of a new event.
No sufficiently sourced and dated signals are available for this view.
Explore company relationships
Questions about miHoYo
What is miHoYo?
miHoYo is a Chinese video game developer and publisher known for cross-platform live-service titles such as Genshin Impact and Honkai: Star Rail.
Who uses miHoYo?
Its products are used by consumers, especially global gamers who play mobile and PC RPG, action and narrative titles.
How does miHoYo make money?
It mainly earns revenue from free-to-play in-app purchases, especially gacha-based spending on characters, weapons, items and related live-service content.
Sources & coverage
This profile uses public, official and technically observable information. Missing information does not prove that a product or relationship does not exist. The list below does not imply that every profile statement has been verified.
17 publicly documented primary sources and citations linked across the market graph.
Continue your research on miHoYo
Explorer includes additional company details, a Watchlist for up to 25 companies and your personal Strategic Intelligence Agent. It monitors your market daily and delivers tailored briefings with clear strategic context whenever relevant news occurs.
Free, with no time limit.