v3.24.3
Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2024
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 September 30,
 20242023
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada (1)
$583,011 64 %$458,563 65 %
Europe167,758 18 128,412 18 
Asia-Pacific, including Australia and New Zealand95,507 10 73,772 10 
Rest of world72,677 8 52,478 7 
Total$918,953 100 %$713,225 100 %
 
Nine Months Ended September 30,
 20242023
 AmountPercentage of RevenueAmountPercentage of Revenue
United States and Canada (1)
$1,658,442 63 %$1,323,849 65 %
Europe476,729 18 370,474 18 
Asia-Pacific, including Australia and New Zealand275,836 11 208,002 10 
Rest of world202,789 8 147,010 7 
Total$2,613,796 100 %$2,049,335 100 %
The Company’s revenues in the United States were 60% and 59% of consolidated revenue for the three and nine months ended September 30, 2024, respectively, and were 60% for each of the three and nine months ended September 30, 2023, respectively.
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 92% of virtual item-related revenue for each of the three and nine months ended September 30, 2024, respectively, and 92% and 91% in the three and nine months ended September 30, 2023, respectively. Consumable virtual items accounted for 8% of virtual item-related revenue for each of the three and nine months ended September 30, 2024, respectively, and 8% and 9% in the three and nine months ended September 30, 2023, respectively.
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 nine months ended September 30, 2024 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 nine months ended September 30, 2024, we recognized $1,983.4 million of revenue that was included in the current deferred revenue balance as of December 31, 2023.