Square Enix has released its 2022-2023 fiscal year report and the results aren’t great for the company’s primary gaming divisions. With total net revenues down by 6%, profit dipping by 3%, and a 13% drop in overall digital entertainment revenue, the report points out that disappointing sales of new HD games, underperformance of new mobile games, and the lack of [...]
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The first quarter of the year was a rough one for Pearl Abyss as the South Korean video game company revealed in its Q1 2023 investor call. The company reported a $6M revenue drop compared to Q2 2022 and a staggering $66M decline compared to the previous quarter although the dip was largely attributed to its subsidiary Pearl Abyss Capital [...]
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Bossa Studios is back in the game after an extremely rough patch in its history following the release of th its ill-fated flagship game, Worlds Adrift. The once-promising sky piracy sandbox MMO quickly turned into a toxic community of griefers which was later compounded by issues between SpatialOS developer Improbable and Unity, ultimately leading to the game’s shut down in [...]
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Microsoft and Activision-Blizzard have been in talks for months about a multi-billion-dollar acquisition, but their plans were halted when the UK’s Competition and Markets Authority slammed the brakes on the deal in the region. Many speculated that the EU might follow suit, but Reuters’ sources say that won’t be the case, and the merger could be approved as early as [...]
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Gaming behemoth Electronic Arts has published its fourth quarter and full-year 2023 fiscal year numbers, and the results are looking good. The report shows a slight increase in revenue year-on-year for both periods, with total revenue for the last quarter going up by 3% YOY to $1.87B and the total revenue for the full year going up by 6% YOY [...]
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Riot Games’ long and arduous journey toward resolving allegations of a toxic work culture has come to a close. Following a $100 million settlement that was reached in 2021 and approved by a court in 2022, a court filing by Rust Consulting has revealed that 1,548 women and contractors will receive compensation. The company was accused of fostering a sexist [...]
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Media and Games Invest, the parent company of Gamigo and KingsIsle, has posted its 2022 financial report that shows a shift away from premium MMO games and toward digital advertising. The report revealed that MGI is pivoting its strategy to focus on mobile and casual games, which offer better opportunities for in-game advertising and more significant growth potential than desktop-based [...]
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Honkai: Star Rail, the cross platform sci-fi gacha RPG from HoYoverse, earned a over $42m in its first week since launching on April 26, 2023 and shows zero signs of slowing down. As of today the figure is up to over $50m. The game is currently in the top 5 of highest grossing mobile games in South Korea, Japan, and [...]
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Virtual reality gaming is like a tiny fish in a big pond, and making an MMO in VR? Well, let’s just say you’re swimming upstream. In a recent interview with GamesIndustry.biz, Ramen VR CTO Lauren Frazier shared some of the challenges the studio has faced while developing its VR MMO Zenith, particularly when it came to convincing investors to open [...]
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Another indie video game development studio has emerged from the woodwork from developers with an impressive pedigree. Introducing Moon Rover Games, a Stockholm-based studio founded by Electronic Arts and Ubisoft veterans. Their mission? To create immersive cooperative games set in richly emergent worlds that encourage players to share their own unique gameplay moments and stories. With a team of lead [...]
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