[Asia Economy Reporter Jang Hyowon] T3 is showing strong performance. Following the news that China has approved licenses for seven domestic games, T3, which holds the intellectual property (IP) of the popular Chinese game "Audition," is gaining attention.
As of 9:21 AM on the 29th, T3 is trading at 1,740 KRW, up 2.35% compared to the previous day.
According to industry sources the day before, the National Press and Publication Administration of China approved the import licenses (foreign game licenses) for a total of 44 foreign games, including seven Korean games. This issuance of foreign game licenses by the Chinese government comes after a year and a half since Pearl Abyss's "Black Desert Mobile" in June last year.
China had suspended the issuance of game licenses for domestic games as economic retaliation following the deployment of THAAD (Terminal High Altitude Area Defense) in 2017.
T3 Entertainment has achieved stable revenue growth based on its flagship rhythm dance game "Audition." Released in 2004, Audition has been serviced in 37 countries worldwide over 18 years, reaching a cumulative subscriber count of 700 million.
Recently, it has shown remarkable growth in China. Based on separate financial results, Audition's revenue in China recorded an average annual growth rate of 14% from 2019 to last year. T3 is reportedly planning to leverage Audition's stable revenue growth in China to expand into new countries such as India and Russia.
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