Naavik: Honkai: Star Rail revenue surpassed $1B on all platforms
But the game is lagging behind Genshin Impact in terms of the monetization capacity.
For the calculation, Naavik used revenue results from analytical platforms and revenue coefficients from Genshin Impact in China and on PC.
Honkai: Star Rail's revenue outside of China as of the end of August reached $299.9 million.
In China, the game earned $516.6 million on mobile devices.
Naavik specialists estimate Honkai: Star Rail's PC revenue at $272.7 million worldwide.
The game is soon to be released on PlayStation 5, which is expected to boost revenue.
💬 David Jiang, the producer of Honkai: Star Rail, noted that miHoYo plans to support the game for at least another 6 years. The largest updates will be the "Worlds," and each of them takes approximately a year to develop.
Naavik analysts note that Honkai: Star Rail is cannibalizing Genshin Impact's revenue. Currently, miHoYo's total revenue is only slightly higher than it was before the release of Honkai: Star Rail. Users also spend 20% less time (South Korea, Japan, Taiwan) to 34% less time (China, USA) in Genshin Impact.
One of the key issues is that Honkai: Star Rail's revenue per download (RPD) is not only lower than Genshin Impact but also lower than competitors like RAID: Shadow Legends, Marvel Strike Force, and others. This means that miHoYo has attracted a portion of the Genshin Impact audience to a project that monetizes less effectively.
Naavik believes that the monetization issues with Honkai: Star Rail are linked to a more lenient gacha system and a lack of content for high-level users.
A full breakdown of Honkai: Star Rail is available in Naavik's Deep Dive material through the link.