Tag: Financials
Tencent is looking to acquire Funcom
Chinese gaming and tech conglomerate Tencent has made a pending offer to buy out the Norwegian developer behind Conan and Dune, Funcom. The Chinese firm has made an offer to fully acquire Funcom, the games maker behind Conan and various other online titles. The acquisition would help the major company build out it’s ever-widening portfolio
GameStop posts Holiday 2019 results, showing worse times ahead
GameStop reported yesterday that they had one of the worst seasonal takes in many years this past holiday season. The Holiday 2019 period was down by 25% in terms of overall sales, leading stock price to tumble and outlooks to shift for the retailer. And same-store comparisons to the previous periods were also down by
GameStop closing another 60+ stores in January 2020
There was once a time when video games retail was dominated by in-person sales and brick-and-mortar establishments. That time is long past, and retailers big and small have had to increasingly transition with the times. Normal retail stores have had to develop serious and maintained online presence to keep up with advertising demands, as well
UK retailer GAME likely to close 40 stores as retail falters
UK retailer GAME likely to close 40 stores according to a new press release from the company. 2018 was a stronger year for the company than previous, with growth in revenue of around 4%, but that same period saw declining profit. Profit before tax fell 25.5% in the same period. A part of that tumbling
PlatinumGames and Tencent partner up for new publishing deal push
PlatinumGames president and CEO Kenichi Sato has some good news for fans. It looks like their efforts to break into publishing games have been given a boost. As of this week, the company has entered into an agreement with Chinese firm Tencent for mutually beneficial financial cooperation. “We would like to announce we have received
Video Games generated $120.1 Billion in revenue in 2019, mostly in free-to-play
A new report by SuperData, a market analysis firm focused on the video game industry, has some surprising numbers about the video games industry and consumer spending in 2019. According to their analysis, a record $120.1 billion was spent on gaming content last year. The real kicker here is the share of revenue though, as it
GameStop blames sales slump on PS5 and Xbox Scarlett hype
GameStop is blaming their sales decline on the incoming release of the next generation of game consoles. According to speculation within the reports, consumers have stopped investing in hardware since they’re waiting for the newest to ship. Granted, this is probably a contributing factor, but GameStop has been struggling to remain relevant for years now.
Codemasters acquires Project CARS developer Slightly Mad Studios
Slightly Mad Studios has been acquired by racing game titan Codemasters. Slightly Mad Studios worked on two Need for Speed games – Need for Speed: Shift and Shift 2: Unleashed. And of course, there was the Project CARS epic racing adventure they created. There were even some rumors that the studio was working on a console, The Mad Box, which
Epic Games acquires Quixel, opens assets to Unreal Engine use
Epic Games has some good news for developers working with Unreal Engine. Your projects using the already stunning development engine are about to get a lot prettier with the introduction of a new library of assets. Epic has acquired Photogrammetry firm Quixel, and will be helping support the company into the future. Quixel was founded
The Outer Worlds was a critical and commercial success, sales exceeded expectations
During the recent Q2 2019 earnings call for Take-Two Interactive, the company revealed a pretty positive outlook overall based on sales of their games. Their most recent releases have all fared pretty well, especially with Obsidian Entertainment and The Outer Worlds. Unfortunately, Take-Two did not reveal a specific number for the game’s sales, so it’s
Nintendo Total Console Sales Top 750 Million Units
Since the Nintendo Switch launched in March 2017, the console has held onto a huge amount of brand recognition and staying power. An impressive library of games, which seems to grow at a rather rapid pace, has certainly helped matters. But the real star here is the multi-pronged approach Nintendo has taken to marketing the
Switch worldwide unit sales top 41 million
In Nintendo’s latest earning report, it announced a whole slew of different sales figures for its most popular games, as well as hardware sales numbers for both the Switch and Switch Lite. Profits for the company took a major leap upward in the last few months, owed largely to strong first-party software sales. All of Nintendo’s
Call of Duty: Modern Warfare makes $600 million in three days
The newly released Call of Duty: Modern Warfare title is pretty controversial, there’s no doubting that. There’s also no doubting that controversy sells. The developer and publisher expended a ton of effort trying to hype up just how edgy their game was, and it appears to have worked just like they wanted. A big part
Electronic Arts pushes for more live services in games
Electronic Arts recently posted its quarterly financial statements, and within the company confirmed a variety of plans they have for the future. There’s a lot to unpack here, so let’s get going right away. Looking into the report, we see massive growth in terms of revenue, especially when it comes to digital purchases and other
Ubisoft delays Watch Dogs Legion and other games to let Breakpoint backlash blow over
Ubisoft has announced a kind of strange delay. A total of three different games, two of which were part of established franchises, have been pushed back. The main cause has been pretty long in developing, with Ubisoft having trouble dealing with backlash for multiple games and the various monetization techniques the publisher uses. The French
Nintendo blows through 15 million Switch units sold in North America
Nintendo has announced that it has shipped over 15 million Switch and Switch Lite units in the two years since the original system launched. This impressive number is due to a lot of moving parts and variables, and it shows that despite some pretty daunting missteps in previous years, the Big N still has plenty of staying
Could the party be over? Fortnite’s revenue is down by 52 percent
By looking at more than 375,000 transactions, an analyst company determined that the battle royale genre has fallen hard in terms of consumer spending, down from a major peak last year, with major titles like Fortnite being hit very hard. Speaking of the king of the hill in the genre, spending dropped significantly from Q2
Report: GameStop Intends To Close 180-200 Stores Worldwide
GameStop is still struggling, that cannot really be doubted, and even the executives at the struggling company are forecasting slow growth at best. GameStop had its Q2 earnings call this week, revealing plans for the future, which say that the company plans to close around 180 to 200 stores globally. The company reps were insistent
Trump blames anything other than racism, misogyny and white supremacy for gun violence
Once again, US President Donald Trump is scapegoating violence in entertainment and mental illness to downplay his own influence in far-right radicalization and the stochastic terrorism it often inspires. Stochastic Terrorism is often defined as “lone wolf” attacks made for a political cause, personal gain or other motivation, they often appear random, but an incredibly
Remedy now owns the publishing rights to Alan Wake
Even as Remedy plugs away on their newest game, Control, they appear to have other irons in the fire. it turns out that the developer has managed to secure the rights to a rather interesting franchise. As part of a press release detailing their financial health and plans for the future, Remedy also announced an
EA CEO and Executives Give Their Performance Bonuses to Employees
Performance bonuses are a pretty standard thing in many industries, from retail to game development, and are usually used as an incentive to encourage both frontline employees and executives to put their best foot forward for the good of the company. Many will notice that the pay offered in these bonuses, often echoing other trends
GameStop shares have yet to recover, and may not
GameStop has been trying to deal with a lot of issues lately. Due to declining sales in a wide number of segments, GameStop even had to seek out a buyer for the company, although that didn’t pan out. Part of the strategy for staving off closure in the face of declining software and hardware sales
Nintendo delays Animal Crossing: New Horizons, investors flee, cutting $1B from stock value
During the Nintendo event of E3 2019, the company has announced another new game, this time in one of their major franchises. The newest Switch title is Animal Crossing: New Horizons. This entry in the iconic Animal Crossing franchise continue the trend set up by the franchise dating all the way back to 2001. The
GameStop could be headed for disaster as stock price plummets
New developments for games retailer GameStop mean some pretty bad news for those rooting for the company. The stock price for the chain has dropped like a rock over the last few days. This drop is reportedly the biggest one-day loss in GameStop’s history. The previous extreme low for the stock was in February 2003
Newest Posts
Gordian Quest, new deck-building strategy, announcedJanuary 28, 2020
Nintendo renews dozens of patents for Ocarina of Time, WarioWare and moreJanuary 28, 2020
Dying Light celebrates fifth anniversary by giving away DLCJanuary 28, 2020
Resident Evil 8 rumors spread hinting at werewolves and returning charactersJanuary 28, 2020
How to play co-op in Journey to the Savage PlanetJanuary 28, 2020
Warcraft 3: Reforged minimum and recommended specsJanuary 28, 2020
Metro Exodus getting one final DLC, ” Sam’s Story” arriving Feb. 11January 27, 2020
Phantasy Star Online 2 closed beta test coming to Xbox One next monthJanuary 27, 2020
Control is possibly coming to Xbox Game PassJanuary 27, 2020
Chinese League of Legends and CS:GO events cancelled due to coronavirusJanuary 27, 2020
Torchlight Frontiers changed to Torchlight III, not free-to-playJanuary 27, 2020
Plague Inc. developer says fans shouldn’t look to game for info on coronavirusJanuary 27, 2020
Nintendo Wii Repair Support Ending in March 2020January 27, 2020
Doom Eternal’s cosmetics will not affect gameplay at allJanuary 27, 2020
EA Maxis has been working on a non-Sims gameJanuary 27, 2020
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