The mobile gaming landscape in 2025 has presented some intriguing developments, as evidenced by Appmagic's revenue charts. Before we dive into the specifics, it’s essential to note a few important disclaimers: the revenue data provided by Appmagic excludes the significant 30% cut taken by Apple and Google, along with income from advertisements, webshops, or the fragmented Android market in China. Despite these omissions, the figures offer a compelling glimpse into the industry’s current dynamics.
In previous years, Honor of Kings consistently dominated these rankings by a wide margin. However, 2025 marked a shift in this trend, with Last War closely chasing down its lead, alongside six other titles that surpassed the impressive $1 billion earnings threshold. Even though the competition intensified, Tencent's flagship MOBA, Honor of Kings, retained its top position, raking in $1.68 billion primarily from its home country, China. The game's second-largest market was the United States, contributing a mere $8.5 million—almost negligible when compared to its overall revenue. Notably, Honor of Kings saw a slight decline from its 2024 earnings of $1.74 billion, yet it remains the title to beat.
On the other hand, FunFly's Last War experienced remarkable growth, soaring from $1.1 billion in 2024 to an impressive $1.57 billion in 2025, and this is particularly striking given that the game has not yet launched in China, despite being developed by a Chinese company. In 2025, the United States emerged as Last War's most lucrative market, generating $672 million, followed by Japan at $294 million, South Korea at $153 million, Germany at $58 million, and Taiwan at $40 million. A potential launch in China could very well propel Last War to the forefront of the charts in 2026.
Roblox also made significant strides, achieving nearly $1.5 billion in revenue for 2025, up from $1.1 billion in 2024 (and $900 million in 2023). This growth was likely fueled by the excitement surrounding its popular games, Grow A Garden and Steal A Brainrot, which captured the attention of players over the summer. It's worth noting that Roblox is predominantly a Western phenomenon, with its top five revenue-generating markets being the United States ($723 million), South Korea ($70 million), the UK ($66 million), Canada ($45 million), and Australia ($44 million).
Century Games’ Whiteout Survival also had a stellar performance, climbing from $936 million in 2024 to surpass $1.4 billion in 2025. The game gained substantial traction in both China and the U.S., earning $377 million and $325 million respectively. Japan ($201 million), South Korea ($156 million), and Taiwan ($45 million) rounded out its list of top markets for the year.
Dream Games' Royal Match saw a slight decrease in earnings, accumulating $1.37 billion in 2025 compared to $1.39 billion in 2024. This dip may be attributed to its companion title, Royal Kingdom, which has been heavily marketed with a significant user acquisition budget and celebrity endorsements. For context, Royal Kingdom landed in the 35th position with earnings of $246 million.
Scopely's Monopoly Go also faced challenges, recording IAP earnings of $1.36 billion in 2025—a decline from 2024's total of $1.43 billion. Similar to other titles, Monopoly Go primarily thrives in Western markets, with the U.S. leading the charge at $1.1 billion, followed by the UK ($48 million), France ($46 million), Canada ($35 million), and Germany ($31 million).
Interestingly, while PUBG Mobile continues to draw most of its revenue from China, it also performs quite well in the U.S. This title experienced modest growth year-on-year, but its earnings momentum took a hit towards the end of 2025, where it fell below the $100 million monthly mark after previously maintaining such figures consistently.
King's Candy Crush Saga remained consistent throughout the year, accumulating IAP earnings between $75 million and $90 million each month. It showed a slight increase from 2024's total of $980 million and successfully crossed the $1 billion milestone for the first time. The U.S. market accounted for a substantial portion of its revenue, generating $576 million in 2025, followed by the UK ($54 million), Canada ($37 million), Germany ($37 million), and Australia ($23 million).
There was a notable drop in revenues from Candy Crush Saga to Pokémon TCG Pocket, which enjoyed a strong launch but began to see a decline in earnings as 2025 progressed. Its peak earnings occurred in March, recording $94 million, only to fall to just under $40 million monthly by year-end, with major contributions coming from players in Japan and the U.S.
Finally, Moon Active's Coin Master rounded out the top ten, earning approximately $650 million in 2025, down from $697 million in 2024. This marks the third consecutive year of declining IAP revenue for the game, though it still remains about $100 million ahead of Gossip Harbor, which ranked 11th.
As we look at the rankings from 11 to 20, we see:
- 11. Gossip Harbor (Microfun): $550 million
- 12. Pokémon Go (Niantic): $494 million
- 13. Clash Royale (Supercell): $453 million
- 14. Kingshot (Century Games): $449 million
- 15. Honkai: Star Rail (Mihoyo): $423 million
- 16. Township (Playrix): $406 million
- 17. Gardenscapes (Playrix): $396 million
- 18. Love and Deepspace (Paper Games): $369 million
- 19. Free Fire: Winterlands (Garena): $366 million
- 20. TfT: Golden Spatula (Tencent): $365 million
Notably, there is a refreshing influx of new titles within the 11 to 20 ranking bracket, with some significant climbs, such as Gossip Harbor, which surged 44 places from the previous year to secure the 11th spot, and Supercell's Clash Royale, which jumped up 38 positions.
However, Pokémon Go has now seen its IAP earnings decline for the fourth consecutive year—dropping from a peak of over $600 million in 2022 to under $500 million in 2025. This downward trend raises questions about how new owner Scopely might adapt its monetization strategy for the game beyond traditional app stores.
Century Games’ Kingshot made an impressive debut at 15th place, earning close to $450 million in its first year after launching in February. If its upward trajectory continues, it's poised to break into the top ten by 2026.
Meanwhile, Honkai: Star Rail experienced a tumultuous year, ending up three spots lower than its 2024 earnings of $562 million, finishing at $423 million in 2025. Another Mihoyo title, Genshin Impact, dropped out of the top 20, earning only $335 million in contrast to its previous $465 million in 2024.
Paper Games’ Love and Deepspace had a stellar year, climbing ten ranks to 18th with $369 million earned. Additionally, Tencent’s Delta Force, which started off slowly in 2024, began to gain substantial revenue in the latter half of 2025, earning $355 million and securing the 21st position.
The outlook isn’t as bright for Brawl Stars, which has experienced a significant downturn—plummeting 19 spots from its earnings of $626 million in 2024 to ‘just’ $271 million last year. Likewise, Clash of Clans also saw a decrease, falling from $323 million in 2024 to $254 million, landing it in the 33rd spot.
On a positive note, Royal Kingdom showed promising growth throughout 2025, wrapping up as the 35th top earner by IAP with $246 million.
