Based on an IP revenue ranking by Chinese research firm Lei Bao, the report compiles sales trends by IP and the status of the top 62 IPs for the first half of 2026. Overseas expansion by China-originated IPs, particularly game IPs, is advancing, and merchandising-driven IPs including LABUBU are attracting attention.
Based on the latest earnings season, China's IP revenue rankings show a scale of 62 ranked IPs, highlighting their distribution in global markets and trends by country. The rankings are independently compiled from publicly available information, and it is noted that some differences may arise.
Honor of Kings ranked first with estimated revenue of ¥16.46 billion, while Peacekeeper Elite ranked fourth at ¥10.06 billion. Although mobile game sales account for a large share of the rankings, film and anime IPs are also said to have a significant influence.
In the toy and collectibles sector, LEGO, Bandai Namco, POP MART, Hasbro and Mattel occupied the top positions, with multiple IPs, including POP MART's LABUBU, driving sales.
Related IPs originating in Japan were also covered, including box-office and merchandise revenue from Toy Story 5 and Detective Conan. In China, collectible IPs such as LABUBU-related Xingxingren and Pleasant Goat and Big Big Wolf are showing growth, while examples such as MINISO's YOYO Youyou Jiang were also introduced as indications of the expansion of collectible IPs.
In conclusion, although companies differ in their disclosure standards for IP monetization, the view presented is that the dominance of game IPs remains strong and that synergies from combining multiple IPs could become a future growth driver.
Source: mp.weixin.qq.com/s/tZBWas4JheUG_9fcnhaUlw