Mobile game revenue finally surpasses PC and consoles

Two-thirds of the world now has a mobile phone in their pocket, and apparently a lot of them are spending money on games. A new report from industry analyst DFC Intelligence found that mobile games revenue exceeded PC and console revenue for the first time ever in 2016.

The mobile games market grew 32 percent to reach $38 billion last year, and according to market analyst Newzoo, will reach $65 billion in 2020. In China, tech giants Tencent and NetEase both doubled their revenue. NetEase overtook Tencent as the No. 1 mobile publisher last year, but Tencent is still the largest gaming company in the world and has a huge presence in not just mobile but in the PC gaming world as well with subsidiaries like League of Legends studio Riot. It reported a 58 percent increase in Q1 this year and is currently valued at $316 billion.