Aug. 6 (NBD) -- Digital entertainment expo ChinaJoy 2018 kicked off last Friday in Shanghai.
On the first day of the expo, a report over the gaming industry in the first six months of this year was co-released by the Game Publishers Association Publications Committee (GPC) and Chinese gaming industry database CNG.
According to the report, nationwide game sales in the first half year totaled 105 billion yuan (15.3 billion U.S. dollars), with year-on-year increase hitting to a record low of 5.2 percent.
Based on incomplete calculation, among the 14 game developers that have reported financial results for the first half year, 8 are predicted to see sliding revenue. Of the 7 game companies that have revised their first-half financial performance, only two including Perfect World revised up forecast, citing Shanghai Securities News.
Tan Yanfeng, vice president of Shanda Games, said on a sub-forum held by CNG and NBD that the gaming industry is facing a downturn. In 2017, about 100 games were tested each week, but the number slid to no more than 50 each week this year.
In addition, the majority of user traffic flow to apps of top players, making it difficult for new games to draw users, added Tan.
Despite so, Perfect World showed a positive attitude towards the future development of the industry.
The company's CEO Xiao Hong said there is no need to be afraid as opportunities still exist though the industry has turned into a "red ocean." He believes a new economic era featured with digital creativity is coming.
In addition to premium IP and new technology, electronic sports will be a development focus of the company because it is attractive to young people.
In June, Perfect World launched a localized version of Steam with Valve Corporation. Steam is a digital distribution platform for video games developed by Valve.
Steam China will give Chinese players access to the world's largest PC game platform and will also help Chinese game developers go global, Xiao told NBD in an interview.
Xiao further noted that his company will provide technical support for small game developers and set up a fund to assist their programs. By putting innovative games on Steam China, emerging developers will get the chance to reach out to players around the world.