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Garena
  • Garena
Sea Ltd
Company typePublic
NYSE: SE
ISINUS81141R1005
IndustryVideo Games
Founded2009; 15 years ago (2009)
FounderForrest Li
HeadquartersSingapore[1]
Key people
Forrest Li (Founder)
Terry Zhao (President)
RevenueUS$550m financing-2009
OwnerSea Ltd
Websitewww.garena.sg

Garena is a Singaporean game developer and publisher of free online games.[1] It is the digital entertainment arm of parent company Sea Ltd,[2] which formerly used Garena as the parent company name.[3]

The company distributes game titles on Garena+ in various countries across Southeast Asia and Taiwan, including the multiplayer online battle arena (MOBA) games League of Legends and Heroes of Newerth, the first-person shooter game Point Blank, the mobile MOBA game Arena of Valor and the mobile racing game Speed Drifters.[4] Garena also used to distribute the football simulation game EA Sports FC Online, until Garena and EA Sports decided to retire the game.[5]

In 2017, it released Free Fire, which had over 150 million daily active users globally by May 2021.[6] As of February 2024, Free Fire had 100 million active users.[7]

History

2009 - 2015

Garena was established by Forrest Li in Singapore in 2009.[8]

In 2010, Riot Games awarded the publishing rights of League of Legends (LoL) to Garena, for the game’s first launch in Southeast Asia.[9]

In November 2011, Garena announced its publishing rights for the team-based shooter game, Firefall, in Southeast Asia and Taiwan.[10]

In December 2011, Garena announced their collaboration[11] with online games developer, Changyou, to publish and operate the popular 3D martial arts game, Duke of Mount Deer, in Taiwan. The game was the first MMORPG game available through Garena+. The game combines a classic Chinese story with the latest 3D rendering technology and cinematic quality graphics. Duke of Mount Deer[12] was created by several top online-gaming experts from China and South Korea and has gained much popularity in China. The same month, the "Dominion" game mode for Garena's League of Legends players in Singapore and Malaysia was launched.[13]

Transition

Upon its establishment in 2009, the entire company operated under the name Garena. In March 2015, the Ontario Teachers' Pension Plan (OTPP), one of the largest pension funds in the world, invested in the company, valuing it at over US$2.5 billion.[14]

In May 2017, a corporate rebranding took place, and the parent company adopted the name Sea Ltd. after raising US$550 million in a funding round .[15][16] However, the digital entertainment segment retained the Garena name, maintaining its brand identity in the gaming industry.[17]

2017 - present

In 2017, Garena launched its first self-developed mobile game, Free Fire. Since its release, Free Fire has gained a substantial user base in Southeast Asia and Latin America and expanded its reach, being available in more than 130 countries.[18] As of February 2024, Free Fire has over 100 million daily active users worldwide.[7] According to data.ai, it was the most downloaded mobile game worldwide from 2019[19] to 2021[20] and continued to lead as the most-downloaded mobile battle royale game in 2022[21] and 2023.[22]

Free Fire's popularity extends into the esports arena. The Free Fire World Series 2021 Singapore (FFWS 2021 SG), held in May 2021, achieved a record of 5.4 million concurrent viewers, excluding Chinese platforms.[23] This marked the highest peak viewership for any esports match in history, as reported by Esports Charts.[24]

In January 2021, Garena acquired Vancouver-based Phoenix Labs, the developers of Dauntless.[25][26] The acquisition aimed to expand Garena's international presence and enhance its capabilities in game development globally. Operations at Phoenix Labs and the development of Dauntless continued without disruption following the acquisition.[27] By 2023, Phoenix Labs had transitioned back to operating as an independent studio following a management buyout supported by investors.[28]

By the second quarter of 2021, Garena reported having 725 million active users, 45% more than the year prior, while the number of paid users grew 85% year-on-year, reaching 92 million.[29] However, the outlook for Garena appeared less optimistic in 2022. Reports from March indicated that Garena was projected to achieve US$2.9 billion to US$3.1 billion in bookings for the year, a decrease from US$4.6 billion in 2021.[30] This forecasted decline would mark the first ever downturn in Garena's business.[30] One contributing factor to this decline was the ban on its "Free Fire" title in India, affecting its availability on both Google Play and Apple app stores.[30][31][32]

In September 2021, Garena announced the global launch of Free Fire Max, an enhanced version of its flagship game, Free Fire.[33] Designed as a standalone application, Free Fire Max retains the core gameplay of Free Fire but incorporates several upgrades, including enhanced graphics and an in-app customizable map for increased player immersion. It also features a more realistic map and exclusive content not available in the original version.[33] The connectivity between Free Fire and Free Fire Max is facilitated by Garena’s proprietary technology, Firelink, which ensures full interoperability between both game versions.[33]

By 2023, Sea reported it had stabilized the Garena's business performance and maintained steady demand for Free Fire, which achieved a peak of over 100 million daily active users in February 2024.[34][35]

In 2023, Garena announced plans to publish Undawn, an open-world zombie survival game, across Southeast Asia.[36] The company also began releasing another mobile game, Black Clover Mobile, based on the popular manga series Black Clover.[37]

Products

In 2010, Garena launched its first product, Garena+, an online game and social platform for people to meet, chat and play games with one another.[38] Other online products of the company include BeeTalk[39] and TalkTalk.[40]

Events and tournaments

In May 2012, Garena launched the Garena Premier League (GPL), a six-month-long online professional gaming league with more than 100 matches to be played. The first season of GPL is a League of Legends competition which comprises six professional teams. The teams are Bangkok Titans (Thailand), Kuala Lumpur Hunters (Malaysia), Manila Eagles (Philippines), Saigon Jokers (Vietnam), Taipei Assassins (Taiwan) and Singapore Sentinels (Singapore), which represent top players from respective countries. GPL matches are captured and broadcast online along with commentaries, which are available for viewers to watch on the GPL official website.[41]

In January 2013, Garena announced the second season of the Garena Premier League, which would start on 4 January 2013. Garena Premier League 2013 includes two new teams from Taiwan and Vietnam, bringing the total number of teams to eight. The teams are: AHQ, Saigon Fantastic Five, Bangkok Titans, Kuala Lumpur Hunters, Manila Eagles, Saigon Jokers, Taipei Assassins and Singapore Sentinels.[42]

In November 2014, the Garena e-Sports Stadium, a dedicated venue for esports, opened in Neihu District, Taipei.[43] The studio was built partially to accommodate the beginning of the League of Legends Masters Series, the top-level Taiwan, Hong Kong, and Macau LoL league that was spin-off of the GPL. The Garena e-Sports Stadium officially closed in 2019, and future Garena events will be held at the Logitech G Esports Arena in Taipei.[44]

In January 2015, Garena launched Iron Solari League, a women's League of Legends tournament in the Philippines.[45] It is a monthly event organized in the second half of each month. It aims to encourage participation by under-represented groups and is open to all those who self-identify as female.

Besides competitive tournaments, Garena also organizes events to cater to users to meet and connect offline. This includes the annual Garena Carnival held in Singapore and Malaysia.[46]

In 2019, Garena held its largest esports event for Free Fire, the Free Fire World Series in Rio de Janeiro, which drew a peak of more than 2 million concurrent viewers.[47] The following year, Garena's tournament, the Free Fire Continental Series (FFCS), was conducted across three regions: the Americas, Asia, and EMEA (Europe, Middle East, and Africa). The Asia Series broke records with over 2.5 million peak concurrent viewers, according to Esports Charts.[48]

In 2021, the Free Fire World Series finals in Singapore achieved a new milestone for mobile esports by attracting over 5.4 million peak concurrent online viewers, the highest recorded for any mobile esports event.[49]

In December 2023, Garena announced plans to consolidate all local Free Fire leagues under the FFWS (Free Fire World Series) brand starting in 2024. This initiative aims to standardize the game's esports framework and enhance its global identity.[50] Additionally, Garena entered into a partnership with the Esports World Cup (EWC) Foundation, leading to Free Fire's inclusion as a competition title at the inaugural EWC, scheduled to occur in Riyadh, Saudi Arabia, in July 2024.[51]

Controversy

On February 3, 2015, Garena eSports announced restrictions on the participation of gay and transgender individuals in an all-female League of Legends tournament, citing concerns about an "unfair advantage." This decision was met with criticism from the gaming community and a statement from League of Legends developer Riot Games affirming that "LGBT players are welcome at official LoL tournaments." On February 4, 2015, Garena issued an apology and rescinded the restrictions.[52]

Published games

Garena provides a platform for game titles such as Defense of the Ancients and Age of Empires, and also publishes games, like multiplayer online battle arena games League of Legends, Heroes of Newerth, Free Fire, Call of Duty and Black Shot for players in the region.

Garena-published games:

Title Genre Developer Year of launch Countries Remarks
BlackShot MMOFPS Vertigo Games 2009 Singapore, Malaysia, Philippines Changed as self-published (Vertigo Games via PapayaPlay[53])
Mstar Casual/Dance Nurien/Netmarble 2009 Taiwan, Malaysia and Singapore Closed 26 August 2019
League of Legends MOBA Riot Games 2010 Indonesia, Malaysia and Singapore, Philippines, Taiwan/Hong Kong/Macau, Thailand, Vietnam Closed and Changed as self-published; since January 2023[54][55]
Heroes of Newerth MOBA Frostburn Studios 2010 Singapore, Malaysia, Thailand, Philippines, Indonesia, CIS Closed on 20 June 2022
Duke of Mount Deer MMORPG Changyou.com 2011 Taiwan Closed 24 March 2014
Point Blank MMOFPS Zepetto 2012 Thailand, Singapore, Malaysia, Philippines, Indonesia Closed 28 June 2017; later relaunch in Thailand, Indonesia, Singapore and Malaysia (self-published)
Path of Exile ARPG Grinding Gear Games 2013 Malaysia, Singapore, Taiwan, CIS, Thailand Closed 2016 (CIS),[56] ?[citation needed] (Thailand, Singapore, Malaysia)
Elsword MMORPG KOG Studios 2013 Philippines Closed 2 December 2015
Firefall Team Shooter/FPS Red 5 2014 Taiwan, Singapore, Malaysia, Hong Kong and the Philippines Closed
Lost Saga Casual/Fighting IO Entertainment 2015 Thailand, Taiwan Closed 3 December 2017
Thunder Strike Vertical Scroller sunmosh 2015 Thailand, Taiwan, Vietnam Closed 6 October 2017
Alliance of Valiant Arms Team Shooter/FPS Red Duck Inc./NEOWIZ 2015 Singapore, Malaysia Closed 3 July 2018
Vindictus MMORPG devCAT/Nexon 2015 Thailand Closed 31 August 2018
Arena of Valor (Mobile Game) MOBA Tencent TiMi Studio 2016 Indonesia, Vietnam, Thailand, Taiwan.
Free Fire (Mobile Game) Battle Royale Garena 2017 Global [57]
Blade & Soul MMORPG Team Bloodlust/NCSoft 2017 Thailand, Vietnam Closed 15 August 2023 (Vietnam)
FIFA Online 3 Sports/Soccer Electronic Arts 2018 Thailand, Malaysia, Singapore, Vietnam Closed and replaced by FIFA Online 4
Ring of Elysium Battle Royale Tencent Aurora Studio 2018 Taiwan, Hong Kong, Macau, Thailand, Indonesia Closed 21 January 2022
TalesRunner Sports Rhaon/Smilegate 2018 Indonesia Closed
Onmyoji (Mobile Game) Visual Novel/Action NetEase Games 2018 Thailand Closed 3 April 2019
DD Tank (Mobile Game) Artillery MMOG.asia/Changyou.com 2018 Thailand [citation needed]
Rising Force Online MMORPGs CCR International Thailand [citation needed]
FIFA Online 4 Sports/Soccer Electronic Arts 2018 Thailand, Malaysia, Singapore, Vietnam
Call of Duty: Mobile (Mobile Game) Battle Royale/Multiplayer Activision/Tencent TiMi Studio 2019 Singapore, Malaysia, Indonesia, Thailand, Taiwan, Philippines
Speed Drifters (Mobile Game) Racing Tencent TiMi Studio 2019 Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Hong Kong, Macau
Contra: Return (Mobile Game) Run and Gun Shooter Tencent TiMi Studio/Konami 2019 Taiwan, Thailand, Malaysia, Singapore, Indonesia
Fairy Tail: Forces Unite (Mobile Game) RPG Tencent Morefun Studios 2020 Malaysia, Singapore, Philippines [58]
Free Fire MAX (Mobile Game) Battle Royale Garena 2021 Global
Moonlight Blade M (Mobile Game) MMORPG Tencent Games 2021 Taiwan [59]
Blockman GO (Mobile Game) Sandbox Zhuhai Sandbox Network Co. Ltd. 2017 (relaunched in 2022) Global [60]
Black Clover M (Mobile Game) RPG Ilinix, inc 2022 Global [61]
Undawn (Mobile Game) MMORPG Tencent Games 2023 Singapore, Malaysia, the Philippines, Indonesia, and Thailand [36]
Cái Thế Tranh Hùng (Mobile Game) Strategy, Role Playing Topjoy 2023 Vietnam
Need for Speed Mobile[a] (Mobile Game) Racing Electronic Arts/Tencent TiMi Studio 2024 Taiwan, Hong Kong, Macau

See also

Notes

  1. ^ known as Need for Speed: Assemble in Taiwan, Hong Kong and Macau.

References

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