v3.25.1
Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
3. Revenue from Contracts with Customers
The following table summarizes revenue by region based on the billing country of users (in thousands, except percentages):
 
Three Months Ended March 31,
 20252024
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada(1)
$647,266 62 %$509,564 64 %
Europe193,636 19 145,564 18 
Asia-Pacific, including Australia and New Zealand109,036 11 85,274 11 
Rest of world85,269 8 60,898 7 
Total$1,035,207 100 %$801,300 100 %
The Company’s revenues in the United States were 59% of consolidated revenue for the three months ended March 31, 2025, and 60% for the three months ended March 31, 2024.
No individual country, other than the United States, exceeded 10% of the Company’s consolidated revenue for any period presented.
Durable virtual items accounted for 91% of virtual item-related revenue for the three months ended March 31, 2025 and 92% for the three months ended March 31, 2024. Consumable virtual items accounted for 9% of virtual item-related revenue for the three months ended March 31, 2025 and 8% for the three months ended March 31, 2024.
The estimated paying user life was 27 months during the three months ended March 31, 2025 and 28 months during the three months ended March 31, 2024.
Deferred Revenue
The Company receives payments from its users based on the payment terms established in its contracts. Such payments are initially recorded to deferred revenue and are recognized into revenue as the Company satisfies its performance obligations. The aggregate amount of revenue allocated to unsatisfied performance obligations is included in our deferred revenue balances.
The increase in deferred revenue for the three months ended March 31, 2025 was driven by sales during the period exceeding revenue recognized from the satisfaction of our performance obligations, which includes the revenue recognized during the period that was included in the current portion of deferred revenue at the beginning of the period. During the three months ended March 31, 2025, we recognized $892.0 million of revenue that was included in the current deferred revenue balance as of December 31, 2024.