From Top-Grossing Genre to Halved Revenue: Why MMO Mobile Games Collapsed

MMO mobile game in-app purchase revenue fell from $5.3 billion in 2021 to $2.8 billion in 2025, a 47% drop that far outpaced the RPG genre's 38% decline and the broader mobile market's 1% dip, according to an analysis by Naavik. Downloads also dropped 40%, from 345 million to 206 million, and revenue fell another 27% year-over-year from January to September 2026. The report attributes the structural collapse to engagement fatigue, spending fatigue and gameplay homogenization, compounded by open-world adventure RPGs like Genshin Impact raising the bar.