Black Myth: Wukong is still creating a "growth miracle".

On the first day of the game's release, over 2.2 million people were playing Black Myth: Wukong simultaneously on Steam; seven days after its release, the game sold a total of 15.4 million copies, with estimated revenue exceeding $730 million (data from VG Insights); since the game's release, its first trailer has been viewed nearly 60 million times on Bilibili, making it the most-watched game trailer in China to date.

Not only has the game itself been popular, but it has also driven sales of game consoles, computer accessories, and new consumer products. According to "What's Worth Buying" statistics, computer accessory sales increased by 48.8% week-on-week from August 14-20, with GPU gross merchandise value (GMV) increasing by 60.6% week-on-week.

Black Myth: Wukong has become a phenomenal cultural and entertainment product, but this does not necessarily prove that AAA games are a good business model at present.

Black Myth: Wukong has surpassed 10 million sales across all platforms.

AAA games, which invest a lot of money, resources, and time, are inherently risky investments due to their "one-time buyout" sales mechanism, where sales are highly correlated with gameplay experience, storyline, and word-of-mouth reputation.

Compared to AAA games, service-based games with more in-game purchases and multiplayer online operations to increase retention rates are clearly more powerful money-making machines.

Elden Ring, released in 2022 and awarded Best Game of the Year at the TGA, is estimated to have generated cumulative revenue of approximately 7.45 billion yuan; whereas Tencent's mobile game Honor of Kings, which entered open beta in 2015, currently generates annual revenue of approximately 39.1 billion yuan.

Mobile games that make users more addicted and willing to spend money are fiercely competing with AAA game models, affecting almost every console game developer.

Ubisoft, a well-known game company, has laid off over 1,700 employees in the past two years and plans to cut costs by 200 million euros by 2026; Japanese game company Square Enix experienced a 69.7% year-on-year decline in net profit from April 1, 2023, to March 31, 2024, primarily due to the inability of its new games Final Fantasy XVI and Final Fantasy VII Rebirth to cover development and marketing costs.

The AAA game market in China is even more "depressed." According to the Game Publishing Committee of the China Audio-Video and Digital Publishing Association, China's game market generated actual sales revenue of 147.267 billion yuan in the first half of this year, with only 797 million yuan coming from console games, as talent and capital flood into mobile and even casual game markets.

The reality is that without in-game stores that incentivize continued purchases and multiplayer modes that retain users, AAA game developers struggle to increase their profit margins in the fierce competition.

In 2023, the popular game franchise Call of Duty released a new title but received its lowest rating in the series' history, with a Steam approval rating of only 28% four days after release; many players complained that the once-proud single-player campaign mode was flooded with open-world gameplay, seemingly serving as an advertisement for the multiplayer mode Warzone.

Warzone, which resembles an online game, has clearly become the cash cow of the franchise. According to Sony PlayStation, one million users currently play only Call of Duty on the platform; in the US alone, Call of Duty players spend an average of $15.9 billion annually on in-game purchases.

Game companies prefer the service-based model for AAA games to continuously generate revenue, which means smaller investments, shorter cycles, and longer returns. AAA games are transitioning from "productization" to "commoditization," with the "ten-year sword sharpening" development process and the concept of "ninth art" rarely mentioned anymore.

Black Myth: Wukong was born in the highly commoditized console game market and represents a "trend reversal."

Comparison of Black Myth: Wukong's locations and in-game graphics

Counting the best games of the past decade at the TGA, game companies from Japan, North America, and Europe (concentrated in Northern and Western Europe) have almost monopolized the console game market, but Black Myth: Wukong is breaking this pattern and making overseas game companies pay more attention to the Chinese market.

Overseas game blogger Destin commented that due to Black Myth: Wukong, Europe and the US can no longer underestimate the potential and development capabilities of the Chinese console game market, which could spawn new cooperation models. He hopes that overseas game companies will "listen carefully" to the market.

Michael Dus, the publishing director at Larian Studios, the developer of the 2023 TGA Best Game Baldur's Gate 3, believes that the huge success of Black Myth: Wukong paves the way for Chinese studios to produce numerous AAA-quality games. He trusts that this game is just the beginning, and China will develop a series of AAA game projects.

Although Black Myth: Wukong is not yet perfect, the game's developer, Game Science CEO Feng Ji, says that "completion is more important than perfection"; moreover, in today's market, Black Myth: Wukong is highly likely to revolutionize the trend of AAA game products.

North American game blogger LegendaryDrops believes that Black Myth: Wukong does not follow any current game trends; it has no in-game store, no multiplayer mode, and is not a promotional tool for game companies to market their next-generation platforms. Yet, it is precisely what many players have been waiting for.

'Black Myth: Wukong is a reasonably priced game with an extraordinary experience. It's purely fun, which should be the essence of all AAA games,' he said.

It's worth noting that the title of LegendaryDrops' video review is: "Black Myth: Wukong Sounds the 'Alarm Bell' for the Gaming Industry.""Returning to pure gaming pleasure without deliberately using new modes to keep players killing time has already captured the hearts of gamers worldwide, and Black Myth: Wukong's meticulous art, scenery, and music details have made it a substantial cultural export.

For example, every character's name in the game is written in the regular script style of Ouyang Xun, all sourced from his inscriptions and rubbings; many game scenes are based on real-life locations, including the Yuhuang Temple in Jincheng, the Tiefo Temple in Gaoping, and the Xiaoxitian Temple in Xi County.

Today, 'China's first AAA game' can no longer fully define the significance of Black Myth: Wukong.