Tencent Holdings Ltd. has over exaggerated the concerns that a decision to restrict play time for most of the users of its best-grossing game, Honour of Kings, might hurt its foundation. He further supported this claim by starting that those aimed only make up a small part of its entire user base.
The company claimed last week that “Honour of Kings” players under 12 Years of age would be limited to 1 Hour of play time every day, while those aged from 12 Years to 18 Years would be limited to 2 hours of play time every day, responding to worries from parents and teachers that some students were obsessed with the game.
Stocks of Tencent, biggest social media and gaming company of China by revenue, dropped almost 4% this week, cleaning almost $12 Billion off its market worth in one stroke. The share was up more than 1% the next day in the same week, overturning earlier losses. It is up more than 40% in 2017.
The People’s Daily, the communist party mouthpiece of China, has also criticized Tencent 2 times this week, defining the “Honour of Kings” game as fatal and calling for firm regulatory measures of online games, which further affected its stocks.
“Those under 12 Years contribute a small amount of our entire user base and a lesser percentage of our premium user base. We do not anticipate that these rules will have a significant effect on our total economical results,” Tencent claimed to the media in an email response for comment.
Tencent also claimed that it would increase the need of real-name registration for all customers and update a parental control platform, which was introduced earlier this year that makes it simpler for parents to keep an eye on gaming account activities of their children.
It was not instantly clear if the company, which has a collection of more than 200 games, can efficiently force the play-time limitations or how easy it will be for users to accept the measures.
Well, the answer to these questions can only be found in future. For now, we can just wait and watch.