2025’s Top-Grossing Mobile Games Revealed: Honor of Kings Reigns Supreme, Tower of Fantasy Breaks into Top 10

Leading data analytics firm Sensor Tower today released its Global Mobile Game Revenue Report for the First Half of 2025, with Tencent’s Honor of Kings topping the chart at $2.3 billion in revenue. HoYoverse’s Genshin Impact and NetEase’s Fantasy Westward Journey followed closely, while Perfect World’s open-world RPG Tower of Fantasy made its debut in the global top 10, fueled by the success of its 3.0 update Stellar Reboot.

Global Top 10 Highest-Grossing Mobile Games (Jan–Jun 2025)

Honor of Kings (Tencent) – $2.3B

Genshin Impact (HoYoverse) – $1.85B

Fantasy Westward Journey (NetEase) – $1.2B

Roblox – $1.18B

PUBG Mobile (Tencent) – $1.02B

Monopoly GO! (Scopely) – $970M

Honkai: Star Rail (HoYoverse) – $890M

Royal Match (Dream Games) – $830M

Tower of Fantasy (Perfect World) – $710M

Pokémon GO (Niantic) – $680M

Key Market Trends

1. Open-World & IP Collaborations Drive Revenue

Tower of Fantasy saw a 300% monthly revenue surge after introducing Ghost in the Shell-inspired character Motoko Kusanagi, proving the viability of “anime open-world + classic IP” crossovers.

2. Casual Games Rise with Innovative Marketing

Match-3 title Royal Match grew 45% YoY thanks to its “live-action ad + social sharing” strategy, emerging as the breakout hit in Western markets.

3. Chinese Developers Dominate

Chinese firms claimed half of the top 10 spots, with Tencent, NetEase, and HoYoverse maintaining dominance while Perfect World entered the elite tier for the first time.

Analyst Insights

“Global mobile game revenue is projected to exceed $120 billion in 2025, but the winner-takes-all effect intensifies—the top 10 games now account for 43% of total earnings,” noted Randy Nelson, Sensor Tower analyst. “Content update speed and cross-platform strategies will define the next phase of competition.”

Looking ahead, upcoming releases like Diablo Immortal’s major expansion and NetEase’s open-world newcomer Code: Infinite may reshuffle the leaderboard in the latter half of the year.

(Data covers App Store and Google Play, excluding third-party Android stores.)