NetEase announced today that it has entered into an agreement with Warner Bros Interactive Entertainment to form a strategic partnership to co-develop a new Lord of the Rings mobile game to bolster its stock following its secondary listing in Hong Kong .
In a statement, NetEase said the newly licensed strategy game, titled The Lord of the Rings: Rise to War, based on J.R.R. Tolkien's acclaimed trilogy.
Rival game companies such as NetEase and Tencent witnessed a significant increase in game revenue during the new coronavirus epidemic as people had more time to spend on their phones and computers.
The release of the new game by NetEase is the latest effort by the Chinese game developer to expand into the international market.
Last year, NetEase also partnered with Marvel and Pokemon Company respectively.
Currently, both Tencent and NetEase are vowing to gain more revenue from overseas markets.
Last year, a NetEase executive said the company hoped to generate 30 percent of its total revenue from overseas markets within 3 years.
Last week, NetEase, which is listed on the Nasdaq, raised at least $2.7 billion in a secondary offering in Hong Kong. NetEase said it would use the funds to finance its international expansion plans.
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