top of page

Honkai: Star Rail experiences a doubling in monthly revenue, while Genshin Impact faces a decline

In February, miHoYo experienced remarkable success, particularly with its game Honkai: Star Rail, which saw its revenue nearly double month-over-month from $47.5 million to $90.5 million on mobile platforms alone. This surge propelled Honkai: Star Rail ahead of Genshin Impact once again, reigniting their ongoing competition. Genshin Impact, miHoYo's older title, generated $89.8 million in revenue in February, marking a significant decline from the $99 million it earned in January but still securing the second spot among gacha games for the month.

The revenue data, gathered from GachaRevenue with Sensor Tower data, highlights that the substantial increase in spending on Honkai: Star Rail primarily originated from China. In February, Chinese players contributed $60.5 million in in-game spending, more than doubling their previous month's contribution of $27.5 million. This indicates that not only is Honkai: Star Rail maintaining its success but also possesses the potential for further growth in the future.

In January, Honkai: Star Rail generated $20 million in in-game revenue outside of China, positioning it in fifth place among the largest gacha games for the month. Conversely, Genshin Impact's revenue increased by $7 million from December to January, reaching $36 million (excluding China). However, February saw a reversal of fortunes as Honkai: Star Rail's revenue surged, surpassing Genshin Impact's revenue both in China and globally. Genshin Impact's revenue declined from $63 million to $57.8 million month-over-month in China and from $36 million to $32 million worldwide. In contrast, Honkai: Star Rail's revenue increased from $27.5 million to $60.5 million in China and from $20 million to $30 million globally. Despite Genshin Impact maintaining higher revenue outside of China, Honkai: Star Rail's remarkable growth in its home market allowed it to edge ahead in overall revenue, with both games collectively earning miHoYo $180.3 million.

The success of Honkai: Star Rail's Version 2.0 update, released in early February with in-game events to incentivize spending, likely contributed to the surge in revenue. New additions to the gacha, including Misha, Black Swan, and Sparkle, as well as the return of Jing Yuan and Imbibitor Lunae, spurred player engagement and spending.

While Honkai: Star Rail has regained the lead for now, whether it can surpass Genshin Impact's achievement as the fastest game to reach $5 billion in consumer spending remains to be seen.

Source: adapted from an article by Aaron Astle, News Editor for

bottom of page