Virtual Economy - SoundSage

View Details

Joining us on this episode is friend of the show Mat Piscatella, Executive Director and Video Game Industry Adviser at Circana. Our discussion includes the state of the industry, the component crisis and hardware costs, first party's changing strategy to focus on the biggest spenders, and just what the heck is going on at Xbox and PlayStation. Despite the worrying state of affairs, we also discuss our hopes for the future. Games will always be an art form, and as long as people are playing, artists will continue to pour their hearts into their craft.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

Since 2022, the industry has slid into chaos and disarray, with developers and players abandoned by platform holders and publishers. Now, we've reached a tipping point, and only we can rescue ourselves. We'll discuss Microsoft's self-inflicted destruction, Sony's anti-preservation attacks, and the ESA's assault on consumers. Also: Steam Machine pricing, Krafton cowed, Ubisoft makes a catastrophic leadership hire amidst layoffs, and Ryan Cohen's toilet thoughts become part of government record.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:04:22] - Industry Executives are Failing Us. Where Do We Go From Here? (Discussion)
[00:33:24] - The ESA Makes Wild Statements It Tries to Walk Back
[00:47:07] - Circana Report on U.S. Video Game Spending for May 2026
[00:51:58] - Steam Machine Pricing Details
[00:53:17] - Investment Interlude
[01:01:14] - BREAKING NEWS (Microsoft)
[01:08:11] - Quick Hits
[01:12:14] - Labor Report
[01:38:57] - FAFO

SOURCES

Next 100 Days: Xbox Reset
Xbox Is Planning To Shutter Peabody-Award-Winning South Of Midnight Studio Compulsion Games | Kotaku
Xbox Game Studios boss Craig Duncan steps down | The Game Business
Updated Xbox Console Prices | Xbox
Bungie Layoffs | Bungie on Bluesky
An Update from PlayStation Studios | PlayStation
An update on PlayStation Store for PS3 and PS Vita | PlayStation Blog
Physical disc production ending in January 2028 for new games releasing on PlayStation consoles | PlayStation Blog
The ESA quietly starts walking back baffling statements about private servers being 'illegal', though it's still tutting and wagging its finger | PC Gamer
Video Game History Foundation Statement on PlayStation Ending Physical Media | VGHF on Bluesky
Steam Machine Pricing Details Emerge | Steam

INVESTMENT INTERLUDE

GameStop and eBay Tensions Rise After Key Shareholder Vote Fails | Yahoo Finance

LABOR REPORT

Ubisoft eliminates 93 roles in San Francisco | Game Developer
Ubisoft Barcelona staff go on strike over 51 staff being laid off
Ubisoft appoints former 2K and Amazon exec Christoph Hartmann to lead Creative House 2, overseeing Splinter Cell, The Division and Ghost Recon | GamesIndustry
Weeks After Launching Luna Abyss, Its Entire Development Team At Kwalee Labs Has Been Laid Off | Game Informer
Kabam consolidating LA office and making layoffs | Game Developer
OtherSide Entertainment lays off 17 staff following game cancellation | Game Developer
OtherSide Entertainment lays off 18 from Thick as Thieves team | Game Developer
Enginefall developer Red Rover Interactive is making layoffs | Game Developer
The Studio Behind A 2025 Xbox Showcase Surprise Just Went Bankrupt | Kotaku
VR dev Combat Waffle Studios lays off staff | Game Developer
Obsidian sued in class action lawsuit over alleged "systematic pattern of wage and hour violations" | GamesIndustry
Magic: The Gathering Arena developers have successfully unionized | Game Developer

View Details

Between GameStop and Ryan Cohen's clownery and new Xbox leadership's 100-day death march, it's another grim moment for the game industry. Former OpenAI head (now Xbox CEO) Asha Sharma laments the hardware crisis caused by… AI. We're all trying to find the guy that did this, after all.

Look… Sharma is no doubt a sin eater, but as she perches herself on the glass cliff, how many people will suffer? Also: Ubisoft attempts to embargo news of studio closures and layoffs, Destiny 2 rides into the sunset, and… it's earnings time, so we get to talk about why profits don't save jobs.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:10:24] - Circana Report on U.S. Video Game Spending for April 2026
[00:21:33] - Sony FY2025 Consolidated Financial Results
[00:27:34] - Sega Consolidated Financial Results for FY2025-26
[00:31:20] - Nintendo Consolidated Financial Results for FY2025-26
[00:39:02] - Nintendo's Ongoing Patent Lawsuit Hits Another Snag
[00:42:17] - Square Enix Consolidated Financial Results for FY2025-26
[00:45:37] - Capcom Consolidated Financial Results for FY2025-26
[00:51:01] - Embracer Group Financial Results for Q4 and Full Year FY2025-26
[00:53:21] - Take Two Financial Results for Q4 and Full Year FY2025-26
[01:05:52] - Investment Interlude
[01:16:21] - Quick Hits
[01:35:24] - Labor Report

SOURCES

FY2025 Consolidated Financial Results | Sony
Sony raising prices on PS Plus | PlayStation on Twitter
Sony Is Being Sued For Allegedly Retaining 'Substantial Windfall' Generated By 'Illegal' Tariffs | Kotaku
Consolidated Results for the Years Ended March 31, 2025 and 2026 | Nintendo
Notice Regarding Price Revisions for Nintendo Products and Services | Nintendo
Nintendo's Ongoing Pokémon Patent Lawsuit Takes Another Hit | Kotaku
Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 | Sega
Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 | Square Enix
Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 | Capcom
Embracer Group publishes Interim Report Q4 | Embracer Group
Opinion: Lars Wingefors is out of his mind | Game Developer
Take-Two Interactive Software, Inc. Reports Results for Fourth Quarter and Fiscal Year 2026 | Take-Two

INVESTMENT INTERLUDE

eBay Rejects Unsolicited Proposal from GameStop | eBay
GameStop increases stake in eBay to more than 6% | Reuters
Sensor Tower acquires AppMagic | GamesIndustry
Tekken director Katsuhiro Harada is back, but this time at his own studio backed by old fighting game rival SNK | Eurogamer
Indika dev Odd Meter raises $5m to fund next project | GamesIndustry

LABOR REPORT

Xbox Plans Significant Layoffs as It Transforms Under New CEO | Bloomberg (Paywall)
Bungie Plans Layoffs After Ending 'Destiny 2' Development | Bloomberg (Paywall)
2K lays off staff working on free-to-play shooter Project Ethos, while hinting at "new direction and focus" | GamesIndustry
Report: WWE 2K26 dev Visual Concepts is laying off staff | Game Developer
Last Flag studio lays off staff as game from Imagine Dragons brothers misses targets | GamesBeat
MercurySteam "initiates a workforce adjustment process" | GamesIndustry
Alliance Studios to close after 7 years of creating branded experiences within Fortnite | GamesBeat
Team17 has laid off members of its marketing and communications department | Game Developer
Merge Mansion dev Metacore lays off 159 employees, closes studios in Germany and Sweden | GamesIndustry
Embracer-owned VR developer Vertigo Games closes Amsterdam studio | Game Developer
Ubisoft is shutting down its Winnipeg studio | Mobile Syrup
Ubisoft closing Winnipeg and Belgrade studios and making further layoffs | Game Developer
Pokémon Go Scans Quietly Trained the Navigation Tech Now Headed Into Military Drones | Drone XL
Double Fine is the latest team at Microsoft to unionize | PC Gamer

View Details

Ryan Cohen was only offered store credit as trade-in value for his time as GameStop CEO, so he's trying to buy eBay in one of the most foolish business moves we've ever seen. Also: Circana Report on U.S. Video Game Spending for March 2026, Microsoft, EA, Remedy, Earnings, the latest labor happenings, and Pearl Abyss dumps CCP for half of what it paid for it. Half Cash, Half Stock.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:41] - Circana Report on U.S. Video Game Spending for March
[00:15:42] - Microsoft Q3 FY26 Earnings,, and
[00:24:01] - Xbox Leadership Shakeup
[00:33:14] - Former Art Director at Halo Studios Alleges Unlawful Conduct and Harassment
[00:39:03] - Games Sue Nintendo to Recapture Tariff Fees & U.S. Patent Office Revokes Nintendo Patent
[00:41:40] - Electronic Arts Earnings for Q4 FY26 and Full Year FY26
[00:44:45] - Remedy Earnings for Q1 FY26
[00:48:45] - Investment Interlude Headline Story: GameStop's Ryan Cohen Makes Unhinged Offer for eBay (and Bombs CNBC Interview)
[01:04:05] - Investment Interlude
[01:08:47] - Quick Hits
[01:29:00] - Labor Report

SOURCES

Microsoft Q3 FY26 Earnings | Microsoft
Former Halo Art Director Accuses Microsoft of Harassment (Part 1) | Glenn Israel on LinkedIn
Former Halo Art Director Accuses Microsoft of Harassment (Part 2) | Glenn Israel on LinkedIn
Electronic Arts Reports Q4 and FY26 Results | EA
Gamers Sue Nintendo To Get Tariff Money Back | Aftermath
US patent office revokes Nintendo's patent on summoning characters to make them battle | VGC

INVESTMENT INTERLUDE

GameStop Proposes to Acquire eBay at $125.00 Per Share | GameStop
Watch CNBC's full interview with GameStop CEO Ryan Cohen | CNBC
Warner Bros. shareholders "overwhelmingly" back Paramount's $111bn acquisition | GamesIndustry
Shift Up has acquired Resident Evil creator Shinji Mikami's new studio | Game Developer
Sony Interactive Entertainment Acquires Cinemersive Labs | Sony
Atari acquires emulation studio Implicit Conversions | Game Developer
Pearl Abyss sells CCP back to its CEO for less than half what it paid, plus $20 million in crypto | GamesIndustry

LABOR REPORT

Sony shuts down Dark Outlaw Games and downsizes mobile games development as PlayStation continues to rethink plans | Eurogamer
Wanderstop Developer Ivy Road is Shutting Down | Ivy Road
Seeker Entertainment is Pausing Production, Furloughing Team | Seeker Entertainment
Four Nacon subsidiaries file for insolvency | GamesIndustry
GreedFall: The Dying World studio Spiders is reportedly closing its doors after parent company Nacon failed to find a buyer | Eurogamer
Embracer Lays off 124 at Eidos-Montreal | Eidos-Montreal on LinkedIn
EXCLUSIVE: Eidos Montreal Cancels 7+ Year In-Development Title That Cost Hundreds of Millions | Insider Gaming
VR developer Polyarc Games facing layoffs, unspecified number of employees affected | GamesIndustry
MechWarrior studio Piranha Games lays off 30% of its employees | PC Gamer
Iron Galaxy lays off more people, says it still had too many employees even after 2025's 'last resort' cuts | PC Gamer
Dead by Daylight studio Behaviour Interactive confirms layoffs | Game Developer
Neill Blomkamp's blockchain studio Gunzilla Games hasn't paid some staff 'for many months', employees allege | VGC
Gunzilla CEO Denies Claims Of Not Paying Staff, Rants About 'Haters,' And Brags About Crunch
MindsEye studio faces new legal action over employee surveillance software that workers' union alleges was 'recording individuals in their homes and without their consent' | PC Gamer
MindsEye Studio Hit With More Mass Layoffs Just As It Was Promising A Turnaround | Kotaku
Paste Ends The Games Coverage That Gave So Many Writers Their Start | Aftermath
Ubisoft Settles With Developers Who Were Laid Off After Unionizing | Kotaku
Announcing United Wizards of the Coast - CWA! | CWA

View Details

With Epic laying off 1,000 people, the game industry job market has gone from "extremely chilly" to "nearing absolute zero." Also: a recap of GDC's challenged year, Circana Report on U.S spending for February 2026, some interesting new investments, NetEase divestments, and a heckin' FAFO.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:50] - GDC 2026 Recap
[00:25:51] - Circana Report on US Video Game Spending for February 2026
[00:35:02] - Nintendo Sues US Government Over Tariffs
[00:36:55] - Pokemon Company v. US Government
[00:38:24] - Update on the Intrepid Studios Implosion
[00:45:02] - Investment Interlude
[01:05:45] - Quick Hits
[01:12:42] - Labor Report
[01:39:27] - FAFO Award

SOURCES

Nintendo Suing U.S. Government Over Tariffs | Aftermath
Pokémon rebukes White House's use of its IP in a social media post | NBC News
MMO Ashes of Creation spirals into a legal dumpster fire, as investor claims creative director Steven Sharif siphoned millions away from the company while it was drowning in debt | PC Gamer
CEO Behind Kickstarter MMO That Ran Out Of Money Breaks His Silence And Claims First Legal Victory | Kotaku
Krafton loses lawsuit, is ordered to reinstate ousted Unknown Worlds CEO | Game Developer
Unknown Worlds co-founders' lawyers accuse Krafton of "intentionally leaking" Subnautica 2 release date | GamesIndustry

INVESTMENT INTERLUDE

Netflix Declines to Raise Offer for Warner Bros. | Netflix
Netflix boss says Paramount acquisition of Warner Bros will result in "cuts in excess of $16 billion" within "18 months or so" | Games Industry
Warner Bros Montréal reportedly hit with staff cuts | GamesIndustry
Pacific Drive developer Ironwood Studios raises $4 million in seed funding | Game Developer
Good Games Group Launches New Publishing Label Balor Games, Following Acquisition of Humble Games and Firestoke Catalogs | Games Press
Velan Studios expands into Canada to build 'breakthrough games' | Game Developer
NCsoft acquires 70% stake in mobile developer JustPlay | GamesIndustry
BEHAVIOUR INTERACTIVE PARTNERS WITH THE FUN PIMPS, CREATORS OF 7 DAYS TO DIE | Behaviour Interactive
Saudi Crown Prince Mohammed Bin Salman's EGDC firm has acquired 5% of Capcom | VGC
Savvy Games Group to acquire Moonton Games for $6 billion | Game Developer
Evo is dead': Major fighting game tournament is now wholly owned by Saudi megaproject Qiddiya, promises 'traditions, values, and identity will remain unchanged' | PC Gamer
Yet another NetEase studio is going independent | Game Developer
Nagoshi's Gang of Dragon May Never Come Out After NetEase Cut Funding When It Realized an Extra $44M Was Needed to Finish the Game
Amazon abandons upcoming racing game from former Forza devs, as its departure from triple-A publishing continues | Eurogamer

LABOR REPORT

Today's layoffs | Epic Games
Ubisoft Toronto lays off 40 employees, Splinter Cell remake still in development | Mobile Syrup
Ubisoft ends game development at Red Storm and lays off 105 workers | Game Developer
skate.'s Next Chapter - An Update from Full Circle | Full Circle (EA)
Battlefield developers laid off by EA months after Battlefield 6 'shatters records' | Game Developer
Riot Games confirms layoffs within publishing division | Game Developer
Riot Games lays off roughly 80 employees from 2XKO team | Game Developer
Report: NetEase is cutting jobs at internal studio Spliced Inc | Game Developer
Den of Wolves studio 10 Chambers announces 'significant restructuring' and layoffs, 'including several of the studio's co-founders' | PC Gamer
Highguard Studio Wildlight Lays Off Most Staff | Alex Graner on LinkedIn
Highguard In Trouble After Most Of The Studio Laid Off Just Weeks After Launch | Kotaku
Tencent's TiMi Studio Group reportedly funded Highguard dev Wildlight Entertainment | GamesIndustry via GameFile
Halfbrick Studios is cutting jobs in Australia | Game Developer
Killing Floor dev Tripwire Interactive lays off 23 employees | Games industry
G.I. Joe Snake Eyes game not cancelled following reported Atomic Arcade studio closure, but its ultimate fate remains unclear | Eurogamer
XCOM designer Jake Solomon announces surprise closure of his studio alongside a first look at its canceled life sim, 'the game we poured our hearts into' | PC Gamer
Build a Rocket Boy confirms more layoffs amid further claims of "organized espionage and corporate sabotage" | Games Industry
Until Dawn remake dev Ballistic Moon has closed | GamesIndustry

View Details

This was supposed to be a show just about earnings. All we wanted to do was cover the earnings… but Sony closed Bluepoint, Nintendo is releasing $20 Pokemon ROMs, and Microsoft appears to have ousted Phil Spencer and Sarah Bond. Every first party is stepping on rakes. Get your coffee… this is gonna be a thing.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:01] - Circana Report on US Video Game Spending for January 2026
[00:06:51] - Microsoft Earnings Report for Q2 FY2026
[00:16:39] - Sony Earnings Report for Q3 FY2026
[00:25:46] - Nintendo Earnings Report for Consolidated 9 Months FY2026
[00:29:55] - Remedy Earnings Report for Q4 and Full Year 2025
[00:34:04] - EA Earnings Report for Q3 FY2026
[00:35:25] - Paradox Earnings Report for Q4 and Full Year 2025
[00:41:40] - Capcom Earnings Report for Consolidated 9 Months FY2026
[00:48:30] - Take Two Earnings Report for Q3 FY2026
[00:51:10] - Sega Earnings Report for Consolidated 9 Months FY2026
[00:55:20] - Square Enix Earnings Report for Consolidated 9 Months FY2026
[00:59:30] - Embracer Earnings Report for Q3 FY2026
[01:01:15] - French Publisher Nacon Files for Insolvency

SOURCES

Earnings Release FY26 Q2 | Microsoft
Q3 FY2025 Consolidated Financial Results | Sony
Sony Shuts Down Video-Game Studio Bluepoint | Bloomberg (Paywall)
Consolidated Results for the Nine Months Ended December 31, 2024 and 2025 | Nintendo
Financial Statements Release - January - December 2025 | Remedy
Jean-Charles Gaudechon appointed as the CEO of Remedy | Remedy
Electronic Arts Reports Q3 FY26 Earnings | EA
Year-end report January – December 2025 | Paradox
Consolidated financial results for the 3rd Quarter of FY2025 | Capcom
Take-Two Interactive Software, Inc. Reports Results for Fiscal Third Quarter 2026 | Take-Two
Consolidated Financial Results for the Nine Months Ended December 31, 2025 | Sega
Consolidated Financial Results for the Nine-Month Period Ended December 31, 2025 | Square Enix
Embracer Group publishes Interim Report Q3 | Embracer Group
NACON ANNOUNCES THAT IT HAS TODAY FILED FOR INSOLVENCY* AND IS REQUESTING THE INITIATION OF JUDICIAL REORGANISATION PROCEEDINGS | Nacon

View Details

Ubisoft employees are prepared to strike over a recent return-to-office mandate and extreme cost-cutting. Also: Circana Report on U.S. Video Game Spending for December 2025 and full year 2025, That's No Moon at odds with former founder, Amazon Games suffers another blow, and Ashes of Creation dev Intrepid implodes.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:04] - Circana Report on U.S. Video Game Spending for December 2025 and Full-Year 2025
[00:12:00] - That's No Moon Co-Founder Causes $1M Problem
[00:21:09] - Valve Faces Down Another Class Action Suit
[00:29:41] - Ubisoft in Disarray
[00:52:38] - Investment Interlude
[00:57:23] - Quick Hits
[01:02:13] - Labor Report

SOURCES

That's No Moon Ex-CEO Hijacked Domain And Caused A $1M Problem, Cofounders Say In Lawsuit | Aftermath
Valve Fails To Get $900m Class Action Lawsuit Over Pricing Thrown Out | Kotaku
UBISOFT ANNOUNCES A MAJOR ORGANIZATIONAL, OPERATIONAL AND PORTFOLIO RESET TO RECLAIM CREATIVE LEADERSHIP AND RESTORE SUSTAINABLE GROWTH | Ubisoft
Ubisoft Employee Claims He's Placed on Unpaid Suspension for Criticising Return-to-Office Policy | Insider Gaming
Ubisoft Fires Team Lead For Criticising Stupid Return-To-Office Mandate | Aftermath
Ex-Assassin's Creed boss Marc-Alexis Côté sues Ubisoft after his surprise and "disguised dismissal" | Eurogamer
We are shutting it down:' Ubisoft unions call for international strike | Game Developer

INVESTMENT INTERLUDE

Industry networking platform MeetToMatch acquired by 1SP Agency | GamesIndustry
Indie publisher Pixel Doors launches with a 'developer-first' mindset | Game Developer

LABOR REPORT

Update on our organization | Amazon
Christoph Hartmann Out at Amazon | Jason Schreier on Bluesky
Report: ProbablyMonsters lays off devs while unveiling Nazi hunting game | Game Developer
Wildgate maker Moonshot laying off unspecified number of staff | GamesIndustry
Update: Payday developer Starbreeze pushes ahead with 'new wave' of layoffs | Game Developer
Report: NetEase Games is cutting jobs in Montreal | Game Developer
Studio that developed the infamous Mighty No.9 has shut down for good | Eurogamer
Anime action RPG studio Pahdo Labs shuts down despite accruing $17.5M in funding: 'We believed making a demo of a familiar but new game would be our best shot' | PCGamer
Tencent subsidiary Sumo Digital is making layoffs | Game Developer
MMORPG Ashes of Creation Suddenly Implodes 52 Days After Steam Early Access Launch | WCCFTech
Ashes Of Creation Dev Details $3.2 Million Kickstarter Studio's Shocking Collapse: 'None Of Us Are Receiving Our Final Paychecks' | Kotaku
Blizzard QA Workers' Newly Ratified Union Contract Locks In Pay Increases, Better Benefits | Aftermath

View Details

2026 is putting us through our paces right out of the gate. We're hanging onto hope, but layoffs, consolidation, and private equity loom over us like a shadow. On this episode: an update on Paramount's desperate fight for Warner Bros. Discovery, Saudi Arabia moves video game holdings, and VR's challenges get much larger.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:35] - A conversation about hardware prices
[00:10:16] - Paramount sues Warner Bros for Netflix deal details
[00:15:39] - Investment Interlude
[00:24:13] - Quick Hits
[00:28:07] - Labor Report

View Details

2025 has continued the trend of layoffs, consolidation, and privatization. The gulf between AAA and everyone else is widening, as the AI bubble strains before an inevitable burst. With November's Circana report coming in bleak after months of stronger performance, 2026 will continue to challenge us all.

BUT... there is reason to hope. Unions are growing in number and reach and studios doomed by AAA mega-corps are finding a way to survive. We need to stick together to not only survive, but thrive.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:07:28] - Circana Report on U.S. Video Game Spending for November 2025
[00:27:31] - Sony and Tencent Settle Light of Moritram Lawsuit
[00:28:43] - Investment Interlude
[00:37:27] - Quick Hits
[00:43:53] - Labor Report

SOURCES

Sony and Tencent settle lawsuit over "slavish clone" of Horizon: Zero Dawn | GamesIndustry

INVESTMENT INTERLUDE

Tencent makes minority investment in France's Drama Studios | GamesIndustry
Disney to Invest $1 Billion in OpenAI in Major Deal That Boosts Sora in Hollywood | The Hollywood Reporter
Bandai Namco sells Limbic Entertainment to "private investor" | GamesIndustry

LABOR REPORT

Naughty Dog Studio Orders Employee Overtime for 'Intergalactic' | Bloomberg (Paywall)
Days after launching their first indie game, everyone responsible for publishing it was laid off: 'We had a Slack channel with everyone in it, and then you see them leaving one by one' | PC Gamer
We are crowd funding Wreckreation | Three Fields
Funcom may have closed down Metal: Hellsinger studio The Outsiders, but its co-founder and Battlefield vet David Goldfarb says it's not over yet | PC Gamer
The Studio Behind Doom Just Unionized | Kotaku

View Details

Warner Bros. is selling itself like a $1.50 hot dog at Costco, and everyone wants a bite. Before the weekend, Netflix looked like it had a clear path to regulatory review. But now, New Paramount is taking a swing with a hostile takeover. Things are about to get ugly. Regardless of who wins, though, we lose. Consolidation continues and consumers pay the price.

Also: Nintendo, Square Enix, Take-Two, Embracer Group, and Sony earnings; Circana's report on U.S. video game spending for October 2025; and another grim labor report.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:06:02] - PAX Unplugged Roundup
[00:23:44] - Circana Report on U.S Video Game Spending for October 2025
[00:31:49] - Sony Earnings for Q2 FY26
[00:36:49] - Nintendo Earnings for H1 FY26
[00:48:15] - Square Enix Earnings for H1 FY26
[00:54:31] - Take-Two Earnings for Q2 FY26
[00:55:39] - Embracer Group Earnings for Q2 FY26
[00:59:48] - iam8bit is Suing Skybound
[01:02:40] - Tencent Pauses Light of Moritram Promotion During Sony Lawsuit
[01:03:35] - Krafton CEO Accused of Using ChatGPT to Get Out of Unknown Worlds Earnout
[01:06:43] - Investment Interlude
[01:24:37] - Quick Hits
[01:29:47] - Labor Report
[01:38:13] - FAFO

SOURCES

Q2 FY2025 Consolidated Financial Results | Sony
Nintendo Earnings for H1 FY2026 | Nintendo
HUGE blow to Nintendo: head of U.S. patent office takes RARE step to order reexamination of "summon subcharacter and let it fight in 1 of 2 modes" patent | Games Fray
Financial Results Briefing Session Six-Month Period Ended September 30, 2025 | Square Enix
Take-Two Interactive Software, Inc. Reports Results for Fiscal Second Quarter 2026 | Take-Two
Grand Theft Auto VI is Now Set to Launch November 19, 2026 | Rockstar
Embracer Group publishes Interim Report Q2, July–September 2025 | Embracer Group
Embracer Group divests Arc Games and Cryptic Studios | Embracer Group
Arc Games Is Now an Independent Publisher | Arc Games
iam8bit is suing Skybound Game Studios alleging fraud and theft of designs | Engadget
Tencent agrees to stop promoting its Horizon ripoff during Sony lawsuit | Engadget
Krafton CEO accused of forming secret task force 'Project X' to seize control of Unknown Worlds | Game Developer
Remember Postal? | PC Gamer

INVESTMENT INTERLUDE

Digiphile - About Us | Digiphile
Saudi Fund to Own Almost All of Electronic Arts After Buyout | WSJ via MSN
Netflix to Acquire Warner Bros. Following the Separation of Discovery Global for a Total Enterprise Value of $82.7 Billion (Equity Value of $72.0 Billion) | Netflix
Netflix Sells Spry Fox Back to Founders | GameFile
‍Paramount launches all-cash tender offer to acquire Warner Bros. Discovery | Paramount

LABOR REPORT

The Rockstar Workers Fired Before They Could Finish GTA 6 | People Make Games
The Messages Rockstar Saw Before Firing 34 Union Members | People Make Games
NetEase racks up its third studio casualty in one week, kneecapping dev working on a Warhammer MMO | PC Gamer
Splash Damage places entire studio into consultation ahead of redundancies | GamesIndustry
Three Fields Entertainment puts entire studio in consultation | Fiona Sperry on LinkedIn
Coatsink to lay off half its staff due to "challenging co-development market" | GamesIndustry
UK publisher Outright Games confirms layoffs | Game Developer
Atomhawk is Closing its Canadian Studio | Atomhawk on LinkedIn
Layoffs at Gorilla Tag dev Another Axiom | Jonathan Dearborn on LinkedIn

View Details

We're joined by two special guests on this milestone episode. Please welcome Andy Pan (the only person who has previously co-hosted a show with us) and Greg Alderton, Virtual Economy's lead moderator!

With 14,000 people laid off, studios shuttered, and projects abandoned, Amazon seems ready to give up on most or all of its gaming dreams. Also: EA earnings ride off into the sunset, Capcom posts a strong quarter, Remedy's in trouble, and Microsoft is inscrutable.

Also: Sony responds to Tencent's request to dismiss the Light of Moritram lawsuit, Circana report on U.S. video game spending for September 2025, and Microsoft is a little too cozy with the U.S. government.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:12] - Investment Interlude/Divestment Dinterlude
[00:11:01] - Quick Hits
[00:24:08] - Labor Report
[01:06:11] - FAFO Award

SOURCES

INVESTMENT INTERLUDE

NetEase divests Fantastic Pixel Castle as studio hunts for new publisher to avoid closure | GamesIndustry
Neon Doctrine is Closing, Folding into Raw Fury | Iain Garner on LinkedIn
Neon Doctrine is Closing, Folding into Raw Fury | Vlad Tsypljak on LinkedIn
Warner Bros. Discovery Initiates Review of Potential Alternatives to Maximize Shareholder Value | Warner Bros. Discovery

LABOR REPORT

Amazon Makes 'Significant' Cuts In Video-Game Division | Bloomberg (Paywall)
Ubisoft RedLynx Proposes Strategic Refocus on Small Screens | Redlynx
Ubisoft Massive is Restructuring | Massive
Open Letter to the Executive Leadership at Build A Rocket Boy | IWDB GameWorkers
Grand Theft Auto made him a legend. His latest game was a disaster | BBC
Netflix reportedly shutters studio behind Squid Game mobile spinoff | Engadget
Rovio is laying off 36 staff, says Angry Birds Dream Blast has 'not been performing as expected' | VGC
Testronic shuts down another studio, this time in Bucharest | Game Developer
Report: Metroid Dread developer MercurySteamworks accused of retaliation and forced crunch | Game Developer
"Si algo hace bien MercurySteam es jugar con el miedo porque no hay otro lugar donde ir": Así se ha degradado el ambiente laboral en uno de los estudios de videojuegos más grandes de España | 3DJuegos
Krafton declares transformation into an "AI-first" company, investing over KRW 100 billion. | Kraton
Heart Machine making layoffs and ending development on Hyper Light Breaker | Game Developer
Outerloop Layoffs | Chandana Ekanayake on Bluesky
'Grand Theft Auto' Studio Accused of Union Busting After Firings | Bloomberg (Paywall)
Battle.net Workers Unionize As Microsoft Neutrality Agreement Expires | Aftermath

View Details

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:05:44] - Remembering Tomonobu Itagaki
[00:10:32] - Episode 200 Celebration
[00:34:14] - Circana Report on U.S. Video Game Spending for September 2025
[00:56:18] - Sony Responds to Tencent's Request to Dismiss Light of Moritram Lawsuit
[01:06:57] - EA Earnings
[01:17:51] - Capcom Earnings
[01:27:49] - Remedy Earnings
[01:43:45] - Microsoft Earnings
[02:16:00] - Why Is Microsoft Allowing the U.S. Government to Use the Halo IP?

SOURCES

"I Told Him I Loved Him, Because I Do" - A Tribute To The Late Dead Or Alive Creator Tomonobu Itagaki | Time Extension
SIE Opposition to Motion to Dismiss 4142-0511-3185 v.2 | United States District Court - Northern District of California
Electronic Arts Reports Q2 FY2026 | EA
EA and Stability AI partner to empower artists, designers, and developers | EA
United Videogame Workers-CWA Statement on Proposed Electronic Arts Buyout | UVW-CWA
Consolidated Results for the Six Months Ended June 30, 2025 | Capcom
Inside information, profit warning: Remedy Entertainment Plc lowers operating profit (EBIT) outlook for 2025 and publishes preliminary Q3 key financial figures | Remedy
Change of CEO in Remedy Entertainment Plc | Remedy
Business Review - January - September 2025 | Remedy
Earnings Release FY26 Q1 | Microsoft

View Details

With prices skyrocketing this generation, Microsoft has increased costs on Game Pass' top tier while cutting offerings on others. We discuss the broader implications as price-sensitive players get boxed out. Also: Unity security alert sends devs scrambling, Tencent fires back at Sony's Horizon: Zero Dawn lawsuit, and private equity rears its head once more.

You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:40] - Game Pass Price Hike Hits Hard
[00:29:53] - Unity Security Flaw Alert
[00:32:53] - Tencent Hits back at Sony's Horizon: Zero Dawn lawsuit
[00:50:13] - Investment Interlude
[00:57:46] - Quick Hits
[01:01:19] - Labor Report

SOURCES

Updates to Xbox Game Pass: Introducing Essential, Premium, and Ultimate Plans | Xbox
Unity Platform Protection: Take Immediate Action to Protect Your Games and Apps | Unity
SONY INTERACTIVE ENTERTAINMENT LLC v TENCENT HOLDINGS | United States District Court, Northern District of California

INVESTMENT INTERLUDE

Ubisoft Launches Brand-New Subsidiary - Vantage Studios | Ubisoft
Splash Damage breaks away from Tencent | GamesIndustry
Fragbite sells Playdigious to Griffin Gaming Partners for €10.5 million | Game Developer

LABOR REPORT

Dune: Awakening developer Funcom announces redundancies | GamesIndustry
The Outsiders is closing | David Goldfarb on Bluesky
Testronic makes 4.8 percent of its total workforce redundant, closes Madrid and Belgrade studios | Game Developer
Digital Extremes layoffs | Justin Kranzl on LinkedIn
A Studio Update from Avalanche Studios Group | Avalanche

View Details

EA is going private in a $55 Billion deal. Saudi Arabia’s Public Investment Fund, Jared Kushner’s Affinity Partners, and Silver Lake will own the company after the deal closes in Q1 FY27. We discuss what that means, explained how leveraged buyouts work, and share our concerns for the future of EA’s workforce and identity.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

PAX West 2025 felt like home for the first time since the COVID-19 lockdown ended. We recap our favorite games and tech from the show.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

Following the flagging performance of Destiny 2 and Marathon woes, Sony has jettisoned embattled Bungie studio head Pete Parsons. They’ve also announced significant hikes on PS5 prices. Also: Another Subnautica 2 lawsuit, a BioShock shakeup, and Frost Giant studio head Tim Morten leads with transparency and accountability.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:07] - PlayStation 5 Price Increases in the U.S.
[00:05:25] - Unknown Worlds v Cleveland, McGuire, and Gill
[00:14:33] - Circan Report on U.S. Video Game Spending for July 2025
[00:19:22] - Investment Interlude
[00:26:45] - Quick Hits
[00:34:09] - Labor Report
[00:50:42] - FAFO

SOURCES

PlayStation 5 price changes in the U.S. | PlayStation Blog
Unknown Worlds v Cleveland, McGuire, and Gill | The Court of Chancery of the State of Delaware
Guy Who Tried To Fight Nintendo Piracy Lawsuit Without A Lawyer Will Now Pay $2 Million | Kotaku

INVESTMENT INTERLUDE

Saudi Arabia's Qiddiya Acquires EVO Part-Owner RTS | Muhannad Aldawood on LinkedIn
Atari Announces Strategic IP Agreement With Ubisoft To Revive Five Acclaimed Titles | Atari

LABOR REPORT

Cloud Chamber lays off "unspecified" number of staff as Rod Fergusson is parachuted in to lead troubled BioShock 4 production | GamesIndustry
Take-Two Guts ‘BioShock’ Studio After a Decade of Development | Bloomberg (Paywall)
Frost Giant CEO Tim Morten says layoffs are possible after Stormgate underperforms | Game Developer
Frost Giant CEO Tim Morten Reflects on Stormgate's Failure | Tim Morten on LinkedIn
Dreamhaven is Going through Layoffs | Mike Morhaime on LinkedIn
Crystal Dynamics Layoffs | Crystal Dynamics on LinkedIn
Ubisoft is cutting jobs within its publishing team | Game Developer
NetEase shuts down Rich Vogel-led T-Minus Zero Entertainment | Game Developer
Hundreds of Diablo Game Developers Join Communications Workers of America | CWA

View Details

Krafton’s response to the Unknown Worlds lawsuit hinges on one key element: the interpretation of the Equity Purchase Agreement. Also, lots of earnings, Roblox is under fire from the state of Louisiana, an update on the growing censorship of Steam and Itch.io, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:48] - Correction: Thunderful Share Price at Time of Atari Purchase
[00:02:35] - Sony Q1 FY25 Earnings
[00:05:24] - Paradox Q2 FY25 Earnings
[00:07:26] - Take-Two Q1 FY26 Earnings
[00:08:54] - Remedy Q2 FY25 Earnings
[00:11:25] - Square Enix Q1 FY25 Earnings
[00:16:06] - Sega Q1 FY26 Earnings
[00:20:39] - Embracer Group Q1 FY25
[00:23:39] - Krafton Responds to Subnautica Lawsuit
[00:30:06] - Roblox’s Content Moderation Failure Leads to Louisiana Lawsuit
[00:45:13] - Valve Explains why PayPal is No Longer a Payment Option in Some Territories
[00:50:30] - Quick Hits
[00:56:25] - Labor Report

SOURCES

FY2025 Q1 Earnings Announcement | Sony
Interim report January – June 2025 | Paradox
FIRST QUARTER FISCAL 2026 RESULTS | Take-Two
Half-Year Financial Report | Remedy
Results Briefing Session for the Three-Month Period Ended June 30, 2025 | Square Enix
Q1 for the Fiscal Year Ending March 2026 Results Presentation | Sega
Embracer Group publishes Interim Report Q1 | Embracer Group
Defendant's Answer to Verified Complaint | Fortis Advisors v Krafton
Louisiana Attorney General Liz Murrill files Child Protection lawsuit against popular game Roblox | Louisiana Office of the Attorney General
State of Louisiana vs Roblox Corporation | Louisiana Office of the Attorney General
Roblox Responds to Louisiana AG Lawsuit | Roblox
Valve explain why using PayPal for Steam purchases isn't currently an option in a whole bunch of countries | RockPaperShotgun

LABOR REPORT

Report: 2XKO and Marvel Snap co-dev Demiurge Studios is laying off staff | Game Developer
Bithell Games has Undergone Layoffs | Bithell Games
Open letter from the Arkane Studios union section to Microsoft’s and its subsidiaries’ management | STJV
Blizzard's story and franchise development division votes to unionize | GamesIndustry

View Details

INT. POSH HOTEL SUITE - DAY

TENCENT: Hey, Sony. Can we make a Horizon game?

SONY: Nah. We good.

TENCENT: Oh okay. Bummer.

SONY: WHAT THE F—-

So yeah… Sony is suing Tencent for what it calls a “slavish clone” of Horizon: Zero Dawn. Bold move! Also: EA, Microsoft, Capcom earnings, an update on the Mastercard/Visa censorship of legal game content, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:30] - Some News From Us!
[00:05:21] - An Update on the Conservative Assault on Steam and Itch.io
[00:15:34] - EA Q1 FY26 Earnings
[00:20:25] - Microsoft Q4 FY25 Earnings
[00:30:00] - Capcom Q1 FY26 Earnings
[00:35:48] - Sony Sues Tencent Over Horizon: Zero Dawn Clone
[00:41:59] - Investment Interlude
[00:50:23] - Quick Hits
[00:50:44] - Labor Report

SOURCES

Mastercard Denies Pressuring Steam To Censor ‘NSFW’ Games [Update: Valve Responds] | Kotaku
Vile is Banned | DreadXP
Freedom to Buy Games | GOG
Electronic Arts Reports Q1 FY26 Results | EA
Earnings Release FY25 Q4 | Microsoft
Consolidated financial results for the 1st Quarter of FY2025 | Capcom
Sony’s PlayStation Sues Tencent Over Its ‘Slavish Clone’ of ‘Horizon’ Video Game Franchise | Variety
Complaint for Copyright and Trademark Infringement | United States District Court, Northern District of California

INVESTMENT INTERLUDE

Atari enters into an agreement to invest in Thunderful Group AB | Atari
Puzzle & Dragons studio considers shareholder group request for a vote to dismiss its president | VGC
Lyrical Media Launches Indie Video Game Publisher Led by UTA, Take Two Vet Blake Rochkind; Three Titles in Development | Variety

LABOR REPORT

Supermassive Layoffs | Supermassive on LinkedIn
Indie Publisher Firestoke Games is Shutting Down | Paul Farley on LinkedIn
The studio behind Teenage Mutant Ninja Turtles: Mutants Unleashed brings in union after facing closure | GamesIndustry
Raven Software Workers Secure First Contract at Microsoft | CODE-CWA

View Details

In 2021, Krafton splashed huge cash on Subnautica dev Unknown Worlds. Now, the publisher may find out that buyer’s remorse isn’t a reason for violating a contract.

Also…

Ubisoft Earnings

Circana Reports for May and June 2025

Sony takes a bite out of Bandai Namco

On this episode, we discussed a serious attack on artist freedom being perpetrated by payment processors Mastercard and Visa. This attack is motivated by an Australian Christofacist group called Collective Shout that, among other things, does not believe adults should have bodily autonomy.

If you would like your voice heard, here are some resources:

A compiled resource document by @voiddebris.bsky.social

Petitions

Change.org

ACLU

Mastercard

Phone (US): 1-800-627-8372

Phone (outside US): 1-636-722-7111

Online submission form

Visa

Phone (US): 1-800-847-2911

Non-US numbers

Online form

Some important tips:

Phone calls are more impactful than emails. Do not let support reps push you to email, where keywords can filter out your concerns.

Keep support reps on calls as long as possible. This creates meaningful and measurable dips in call center productivity that management WILL notice.

Call multiple times with the same case number. Call center KPIs include clearing tickets in as short a time and in one call. This is another metric that will grab leadership attention. The service impact should be sustained for at least a month says workforce management professional Elliot Wilson on Bluesky.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:59] - Ubisoft Earnings
[00:11:08] - Circana Reports on U.S. Video Game Spending for May and June 2025
[00:22:28] - Unknown Worlds v Krafton
[00:35:10] - Mastercard and Visa are Ramping Up Their Censorship (Steam, Itch.io)
[00:43:54] - Investment Interlude
[00:48:01] - Quick Hits
[00:50:25] - Bonus Investment Interlude
[01:02:16] - Labor Report

SOURCES

Ubisoft Q1 FY26 Earnings | Ubisoft
Ubisoft Names Co-CEOs of Spinoff | Variety
KRAFTON ANNOUNCES GAMING INDUSTRY VETERAN STEVE PAPOUTSIS AS NEW CEO OF UNKNOWN WORLDS | Krafton
Krafton Delays ‘Subnautica 2’ Game Ahead of $250 Million Payout | Bloomberg (Paywall)
Fortis Advisors v. Krafton via Aftermath | Scribd (Nicole Carpenter)
Steam cracks down on some sex games to appease payment processors | Ars Technica

INVESTMENT INTERLUDE

Bandai Namco and Sony Sign Strategic Partnership | Bandai Namco
Gamefound acquires Indiegogo | Gamefound
‘Subnautica 2’ Publisher Krafton Acquires ‘Last Epoch’ Developer Eleventh Hour Games for $96 Million | Variety

LABOR REPORT

Tom Clancy, Star Trek: Bridge Crew Studio Ubisoft Red Storm Lays Off 19, Citing 'Global Cost-saving Efforts' | IGN
Virtuos confirms it's laying off 270 workers across Asia and Europe | Game Developer
Secret 6 Has Been Closed | Patricia Pérez Menéndez on LinkedIn
Secret 6 Madrid workers call off strike after agreeing severance terms with Testronic | Game Developer
Report: Wardogs developer Bulkhead is laying off workers | GamesIndustry
Airship Interactive entered administration earlier this month | GamesIndustry
Report: Wayfinder developer Airship Syndicate is laying off staff | Game Developer
Dark Sky Studio Ganymede Games is Shutting Down | Jerry Prochazka on LinkedIn

HELP OUR GREG WITH HIS MASTERS DISSERTATION!

Our lead moderator and King of Game Showcases, Greg Alderton, is working on his masters dissertation. As part of that, he’s conducting research on cozy spaces in games. We’d be delighted if you’d help him by participating in the research phase.

All you need to do is download a small file from Itch.io here, take a few minutes to experience the two spaces included, and fill out a short form here. Thank you for helping Greg!

View Details

Following strong financial performance in its gaming division, Microsoft is taking a machete to its work force and its future as a serious competitor. Is this the brand’s Red Ring of Death? Also, Bungie runs from Marathon, Warner Bros. goes all-in on safe IP, and the labor report hurts even more than usual.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:59] - Sony Games & Network Services Update
[00:16:09] - Marathon Delayed Indefinitely
[00:27:51] - Sony Brings Four Games Back to 177 Countries
[00:30:18] - Cleer Arc 3 Gaming Review
[00:37:52] - Investment Interlude
[00:42:27] - Quick Hits
[00:59:46] - Labor Report

SOURCES

Game & Network Services Segment | Sony
Marathon Development Update | Bungie
Sony removes regional restrictions on four of its biggest games on Steam | PC Gamer
Tencent owns 15% of Helldivers 2 studio Arrowhead, it has emerged | VGC

INVESTMENT INTERLUDE

Sensor Tower Acquires Playliner to Expand Live Ops Intelligence Across Mobile Gaming | Sensor Tower
Warner Bros. Games Restructures Into Divisions Based on ‘Game of Thrones,’ Harry Potter, ‘Mortal Kombat’ and DC Universe | Variety

LABOR REPORT

Microsoft Begins Deep Job Cuts Across Xbox Division | Bloomberg (Paywall)
Microsoft to lay off as many as 9,000 employees in latest round | Seattle Times
Lost Records and Jusant developer Don't Nod is laying off staff | Eurogamer
Bloodlines 2 developer The Chinese Room has laid off employees, but Paradox says the game is still coming in October | PC Gamer
Hypixel Studios has Canceled Hytale and Will Wind Down | Hypixel Studios on Twitter
MindsEye Developer Build a Rocket Boy Begins Layoff Process Amid Disastrous Launch, Studio Sources Say | IGN
MindsEye Dev's UK Workforce of Around 300 Receive At-Risk Emails as Former GTA Lead Leslie Benzies Finally Addresses Staff | IGN
Cyan Worlds Has Gone Through Another Round of Layoffs | Cyan Worlds on Bluesky
Studio Camelia has Closed | Studio Camelia on LinkedIn
Star Wars: Hunters Publisher Shutters Studio Founded by Torchlight, Diablo Creator Before It Could Announce Its New Game | IGN
People Can Fly Undergoes Layoffs | People Can Fly on LinkedIn
Major layoffs at Playtika with up to 160 jobs cut on Best Fiends and Redecor teams | MobileGamer.biz
Subway Surfers Blast developer Outplay Entertainment has laid off 21 workers | Game Developer
RuneScape studio Jagex lays off an undisclosed number of 'non-player facing' staff | Game Developer
Cult of the North Shutting Down | Adam Schaub on LinkedIn
Report: Return to Moria developer Free Range Games lays off 80 people | Game Developer
Sony is making layoffs at Days Gone developer Bend Studio | Game Developer
French court convicts ex-Ubisoft bosses for workplace harassment | AFP
Video Game Workers Reach Historic Tentative Contract Agreement with Microsoft | CWA

View Details

With our Switch 2 in-hand, we’re ready to give you our early feelings about the console in this challenging market. Also: SO many earnings. Like… SO many. Nintendo, Sony, EA, Take-Two, Remedy, Embracer Group, Paradox, Square Enix, Capcom, and Sega.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:05:02] - Switch 2 Impressions
[00:41:28] - Nintendo FY25 Earnings
[00:47:16] - Sony FY24-25 Earnings
[00:51:17] - EA Q4 and FY25 Earnings
[00:56:43] - Take-Two Q4 and FY25 Earnings
[01:04:24] - Remedy Q1 FY25 Earnings
[01:07:57] - Embracer Group Q4 and FY25 Earnings
[01:15:24] - Paradox Q1 FY25 Earnings
[01:24:38] - Square Enix FY25 Earnings
[01:29:49] - Capcom FY25 Earnings
[01:35:56] - Sega FY25 Earnings

SOURCES

Nintendo FY 25 Results | Nintendo
FY2024 Consolidated Financial Results | Sony
Electronic Arts Reports Q4 and FY25 Results | EA
EA Pushes Full Return to Office, Effectively Ends Remote Hiring | IGN
Take-Two Interactive Software, Inc. Reports Results for Fourth Quarter and Fiscal Year 2025 | Take-Two
Remedy Entertainment Plc: Business Review January–March 2025 | Remedy
Embracer Group publishes Interim Report Q4 | Embracer Group
Interim report January – March 2025 | Paradox
Results Briefing Session for the Fiscal Year ended March 31, 2025 | Square Enix
Consolidated Financial Results for the Year Ending March 31, 2025 | Capcom
Consolidated Financial Results for the Year Ending March 31, 2025 | Sega

View Details

PAX East isn’t the show it was 10 years ago. With most AAA developers staying away, indies take center stage. Also: Circana report for April 2025, GameStop sells off its Canadian holdings, Curve Games has a new owner, the SAG-AFTRA voice performer strike enters the endgame, and much more. We’ve also got a pair of great listener questions!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:10] - Circana Report on U.S. Video Game Spending for April 2025
[00:17:36] - PAX East Recap
[00:52:48] - Investment Interlude
[01:09:12] - Quick Hits
[01:17:15] - Labor Report
[01:34:37] - Listener Questions

INVESTMENT INTERLUDE

Universal Distribution completes Alliance Game Distributors buyout from Diamond Comics after chaotic bankruptcy auction | BoardGameWire
Curve Games Acquired by Nazara Technologies | Curve Games
Apple acquires RAC7, its first-ever video game studio | Digital Trends
NCsoft makes "strategic equity investment" in Empty Vessel | GamesIndustry
Griffin Gaming Partners Leads €12M Series A in Amplitude Studios | Griffin Gaming Partners
Sony PlayStation establishes new studio, teamLFG, to work on "an ambitious incubation project" | GamesIndustry
Starbreeze acquires publishing rights to troubled Payday 3, says move will 'accelerate development roadmap' | Eurogamer
Brightika expands to PC and console with $3m investment for indie devs | GamesIndustry

LABOR REPORT

EA Cancels Black Panther Game, Closes Cliffhanger Games | IGN
Microsoft announces plans to lay off thousands more workers | VGC
Video Game Companies Release Final Offer to SAG-AFTRA Addressing AI Demands Amid 9-Month Strike (EXCLUSIVE) | Variety
Video Game Companies Remove AI Provision on Unlimited Digital Replicas From ‘Best, Last and Final’ Offer to Actors Union (EXCLUSIVE) | Variety
SAG-AFTRA's Interactive Media Agreement Negotiating Committee Responds to Video Game Employers | SAG-AFTRA
SAG-AFTRA Statement on Fortnite’s Use of A.I. Darth Vader Voice and ULP Filing | SAG-AFTRA
THQ Nordic studio that was set to be closed in 2023 somehow escaped the Embracer death spiral and is now working on a new RPG | PC Gamer

View Details

Microsoft is jacking prices on hardware, software, and peripherals. With costs going up while interest in Microsoft’s offerings declining, we have to wonder if Microsoft is applying pressure to push Game Pass. Also: Circana report on U.S. Video Game Spending for March 2025, Apple scores an own-goal and pisses off the Court, the tabletop industry is in freefall, and EA lays off another 300 to 400 people.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:1:31] - GTA 6 Delay
[00:12:06] - Circana for March 2025
[00:17:43] - Devolver Digital Investor Presentation
[00:24:36] - Microsoft Q3 FY25
[00:45:36] - Investment Interlude
[00:56:59] - Quick Hits
[01:06:42] - Labor Report
[01:24:58] - FAFO

SOURCES

Earnings Release FY25 Q3 | Microsoft
Investor Presentation - 2024 Results | Devolver Digital
Devolver Digital lays off almost half of Reigns studio Nerial | Eurogamer
A judge just blew up Apple’s control of the App Store | The Verge
New Epic Games Store Webshops and Revenue Share Update | Epic Games

INVESTMENT INTERLUDE

Blue Ocean Games Terms & Conditions | Blue Ocean Games

LABOR REPORT

Online board game seller Boardlandia shuts down after tariffs add “unsustainable burden” to company’s existing challenges | BoardGameWire
CMON announces layoffs, will stop ‘all future game development’ and crowdfunding efforts | Polygon
Report: Meta has laid off over 100 Reality Labs employees | Game Developer
Mighty Yell Undergoes Layoffs | Mighty Yell on Bluesky
Respawn Layoffs | Respawn on Twitter
Electronic Arts Lays Off Hundreds, Cancels ‘Titanfall’ Game | Bloomberg (Paywall)

View Details

The original Nintendo Switch launched at $300 USD. The Switch 2 price was absent from the huge Nintendo Direct, only to be quietly revealed at $450. As for game prices, Mario Kart World is a whopping $80. Costs are on the rise, and the latest tariffs have spiked the price of accessories. So… where do we go from here? Also… Ubisoft slices off its most profitable franchises, lots of layoffs, and a huge game publisher strike.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:53] - Nintendo Switch 2 and The Return of Paul Rudd, Gamer Dude
[00:43:22] - Ubisoft Slices Off an Arm to Make a Tencent Deal
[00:53:41] - Gamestop Q4 and Full Year Earnings
[00:58:49] - Investment Interlude
[01:01:36] - Quick Hits
[01:14:37] - Labor Report

SOURCES

Nintendo Switch 2 Launches June 5 at $449.99 | BusinessWire
Ubisoft Accelerates its Transformation by Laying Foundation for New Operating Model | Ubisoft
GameStop Reports Fourth Quarter and Fiscal Year 2024 Results | GameStop

INVESTMENT INTERLUDE

Krafton acquires controlling stake in Indian gaming studio Nautilus Mobile for $14M | TechCrunch
Say hi to the new Supercell Investments | Supercell

LABOR REPORT

Cyan Worlds Lays off Half its Staff | Cyan Worlds on Twitter
Plaion: Job cuts at Munich-based Embracer division (Update) | Games Wirtschaft
Plaion Lays Off a Reported 40 People | Plaion
Crystal Dynamics lays off 17 employees | GamesIndustry
Major Layoffs at Eidos-Montreal | Eidos-Montreal on LinkedIn
More Layoffs at Lost Boys Interactive? | Bryan Harmon on LinkedIn
Atomhawk Design Announces Layoffs | Atomhawk Design on LinkedIn
PlaySide Studios is Restructuring | PlaySide Studios on LinkedIn
Supermoves Developer Makea Games is Shutting Down | Makea Games
Brass Lion Has Conducted Layoffs | Brass Lion on LinkedIn
ZeniMax union votes to authorize a strike | The Verge

View Details

Warner Bros. continues to chip away at its infrastructure and consumer confidence with the closure of three more studios. Also: Circana reports for Jan and Feb, a recap of GDC and developers’ feelings about the industry, a curious period for investments, a new union looks to cover the entire industry, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:00] - Circana Report on U.S. Video Game Spending for January 2025
[00:11:59] - Circana Report on U.S. Video Game Spending for February 2025
[00:21:39] - GDC 2025 Recap
[00:54:29] - Investment Interlude
[01:14:23] - Quick Hits
[01:22:11] - Labor Report

SOURCES

Warner Bros. Shuts Down Three Game Studios, Cancels Wonder Woman Title | Bloomberg (Paywall)
Studio Fizbin's Last Magic Trick: “Reignbreaker” | Studio Fizbin
Layoffs at Wizards of the Coast's Skeleton Key Studio | Nassim Ait-Kaci on LinkedIn
PlayStation Hit With More Layoffs Following Recent Game Cancellations | Kotaku
Mountaintop is Shutting Down | Spectre Divide on Twitter
Respawn lays off staff, cancels another unannounced game | Game Developer
Free Range Games has Undergone Layoffs | Free Range Games on LinkedIn
Fallout and Obsidian veterans ditch open-world game plans as team shrinks to a "skeleton crew" | Eurogamer
Wizards of the Coast winds down Sigil VTT team | Andy Collins on LinkedIn
Sunsetting Seekers of Skyveil | Elodie on Steam
UVW-CWA unveiled at GDC 2025 | UVW-CWA

INVESTMENT INTERLUDE

Emona Capital completes acquisition of UK publisher Secret Mode | Secret Mode
Emona Capital makes investment in Blackbird Interactive | Blackbird Interactive on LinkedIn
GTA developer Rockstar acquires Video Games Deluxe to expand into Australia | Game Developer
Former NetEase director self-funds new studio to ensure "management protects creators" | GamesIndustry
Tencent acquires additional shares in FromSoftware parent company, Kadokawa | GamesIndustry
PlayStation has formed new studio Dark Outlaw Games with Call of Duty Zombies lead Jason Blundell | VGC
Niantic’s Next Chapter | Niantic
Jam City Sells Ludia to Canadian Investors | Joshua Yguado on LinkedIn

View Details

Despite mounting evidence that Games as a Service are struggling, executives continue to go back to that empty well. Also: A ton of earnings reports (Nintendo, EA, Paradox, Square Enix, Sega, Ubisoft, Remedy, Embracer Group, and Sony), the labor picture worsens, and Niantic may be exiting the gaming space.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:58] - Nintendo Q3 FY25 Earnings
[00:16:07] - EA Q3 FY25 Earnings
[00:30:18] - Paradox FY24 Earnings
[00:34:40] - Take Two Q3 FY25 Earnings
[00:36:46] - Square Enix Q3 FY25 Earnings
[00:40:17] - Sega Q3 FY25 Earnings
[00:42:52] - Ubisoft Q3 FY25 Earnings
[00:44:49] - Remedy FY24 Earnings
[00:47:15] - Embracer Group Q3 FY25 Earnings
[00:50:18] - Sony Q3 FY25 Earnings
[00:54:11] - Investment Interlude
[01:01:38] - Quick Hits
[01:05:18] - Labor Report

SOURCES

Consolidated Results for the Nine Months Ended December 31, 2023 and 2024 | Nintendo
Electronic Arts Reports Q3 FY25 Results | EA
Battlefield Labs | EA
END OF KAIZEN REVIEW | EA
Year-end report January – December 2024 | Paradox
Paradox Interactive acquires Haemimont Games | Paradox
Consolidated Financial Results for the Nine-Month Period Ended December 31, 2024 | Square Enix
Consolidated Financial Results for the Nine-Month Period Ended December 31, 2024 | Sega
UBISOFT REPORTS THIRD-QUARTER 2024-25 SALES | Ubisoft
Remedy Entertainment Plc: Financial Statements Release January-December 2024 | Remedy
Embracer Group publishes Interim Report Q3 | Embracer Group
Q3 FY2024 Consolidated Financial Results | Sony

INVESTMENT INTERLUDE

Dead Astronauts Secures €4M In Oversubscribed Seed Round | Dead Astronauts
nDreams establishes new internal studio, shutters two others | GamesIndustry
GameStop Announces Plan to Pursue a Sale of French and Canadian Operations | GameStop
‘Pokémon Go’ Maker Nears $3.5 Billion Deal to Sell Games Unit | Bloomberg (Paywall)

LABOR REPORT

Sumo Group is Refocusing and Undergoing Layoffs | Sumo Group on LinkedIn
Iron Galaxy Layoffs | Iron Galaxy on LinkedIn
Report: ProbablyMonsters conducting more layoffs after pledging to build 'stable home for developers' | Game Developer
Report: Hi-Rez Studios laid off dozens of developers from Smite team | Game Developer
Crytek is Laying Off 15% of its Workforce | Crytek on LinkedIn
VR dev Toast Interactive lays off majority of staff | Game Developer
Liquid Sword makes "deeply regrettable" job cuts for "the studio's long-term sustainability" | GamesIndustry
Netflix has laid off staff at Oxenfree developer Night School Studio | Game Developer
Bossa Games Layoffs | Bossa Games on LinkedIn
EXCLUSIVE: 10:10 Games Employees Offered No Severance, Layoffs Happened While On Holiday, And More | Insider Gaming
Layoffs at NetEase on the Marvel Rivals team | Jack Burrows on LinkedIn
Layoffs at NetEase on the Marvel Rivals team | Thaddeus Sasser on LinkedIn

View Details

There are few things worse than yet another company laying people off… and EA has committed the sin of obfuscating job losses. Also: Earnings season is underway, the Circana report for December 2024 and the full year, a recap of the GDC State of the Industry report, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:49] - EA Takes a Tumble
[00:12:58] - Microsoft Q2 FY25 Earnings
[00:19:38] - Capcom Q3 FY25 Earnings
[00:25:39] - Circana Report on U.S. Video Game Spending for December 2024 and Full Year 2024
[00:35:25] - Learnings from the GDC State of the Industry Report
[01:05:38] - Investment Interlude
[01:14:06] - Quick Hits
[01:25:21] - Labor Report
[01:38:15] - Listener Questions
[01:50:18] - FAFO

SOURCES

Electronic Arts Pre-Announces Preliminary Q3 FY25 Results | EA
Electronic Arts EVP Jacob Schatz sells shares worth $215,174 | MSN
Earnings Release FY25 Q2 | Microsoft
Consolidated financial results for the 3rd Quarter of FY2024 | Capcom
Meta Reports Fourth Quarter and Full Year 2024 Results | Meta
The drone pilot who took out an LA firefighting plane pleads guilty to escape prison | The Verge

INVESTMENT INTERLUDE

Pocketpair launches publishing business [Pocketpair Publishing] and announces first publishing partnership with SURGENT STUDIOS. | Pocketpair
Virtuos acquires three studios to 'significantly augment' development support capabilities | Game Developer
Board game distribution major Alliance gets $39m buyout bid as owner Diamond Comics files for bankruptcy protection | BoardGameWire
Closing of Easybrain divestment | Embracer Group

LABOR REPORT

BioWare Studio Update | BioWare Blog
Reflector confirms more layoffs after Unknown 9 falls short of expectations | Game Developer
Phoenix Labs Lays Off Most of Its Staff | Phoenix Labs on LinkedIn
Ubisoft Layoffs and Closures | Ubisoft Leamington on LinkedIn
Fast Travel Games Lays off 30 People | Fast Travel Games on LinkedIn
Studio co-founded by Dr Disrespect closing after three years working on new FPS | PCGamesN

View Details

The year has begun, and the industry is already off to an intense start. On this episode, we discuss the business decisions behind the Switch 2’s departure from “Weird Nintendo,” Ubisoft’s precarious position, the U.S. ruffling Tencent’s feathers, and the Consumer Financial Protection Bureau’s move to regulate premium game currency.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:27] - The Switch 2 has finally been announced
[00:19:11] - The United States labels Tencent a military asset
[00:22:16] - The U.S. Consumer Financial Protection Bureau turns its eye to premium game currency
[00:26:15] - The U.S. Federal Trade Commission sets new precedent regarding sales of loot boxes
[00:37:16] - Investment Interlude
[00:48:47] - Quick Hits
[00:54:39] - Labor Report

SOURCES

US designates Tencent and CATL as Chinese military companies | The Verge
LFG (Looking for gamers): CFPB wants to hear about your video game loot | Consumer Financial Protection Bureau
CFPB Seeks Input on Digital Payment Privacy and Consumer Protections | Consumer Financial Protection Bureau
Banking in video games and virtual worlds | Consumer Financial Protection Bureau
Genshin Impact Game Developer Will be Banned from Selling Lootboxes to Teens Under 16 without Parental Consent, Pay a $20 Million Fine to Settle FTC Charges | U.S. Federal Trade Commission

INVESTMENT INTERLUDE

Ex-Annapurna Video-Game Staff to Absorb Former Take-Two Indie Label | Bloomberg (Paywall)
Strategic Update | Ubisoft
ANALYSIS: Ubisoft Faces Its Most Challenging Year in its History | Insider Gaming
Tencent, Guillemot Family Said to Mull Ubisoft Asset Venture | Bloomberg (Paywall)
NetEase pulls funding for another studio: Former Halo Infinite design head says Jar of Sparks is 'halting work' while it looks for a new publisher | PC Gamer
Maximum Entertainment divests Merge Games assets to Silver Lining | GamesBeat

LABOR REPORT

Suicide Squad: Kill the Justice League developer Rocksteady hit by end-of-year layoffs | Eurogamer
The First Gaming Layoffs Of 2025 Have Happened | Insider Gaming via YNA
EXCLUSIVE – Cloud Imperium Games Undergoes Major Shake-Up to Hit Deadlines | Insider Gaming
GameStop is Silently Shutting Down More US Stores | Insider Gaming
Robocraft 2 developer Freejam shuts down | Game Developer
Splash Damage is Ending Development on Transformers: Reactivate and Scaling Down | Splash Damage on Twitter
Toadman Interactive has been Closed by Daybreak | Senol Kandemir on LinkedIn
Microsoft conducts 'small' layoffs across various divisions | Game Developer
VR studio Soul Assembly has laid off 15 percent of its workforce | Game Developer
Group Customer Harassment Policy | Square Enix
STJV union calls for extended strike at Don't Nod with layoffs looming | Game Developer

View Details

34,000. That’s how many jobs have been lost in our industry since the start of 2022. We recap the year, discuss PAX Unplugged and The Game Awards, and look ahead at what to expect in 2025. We did a deep dive on tabletop card game trends and the looming tariffs for all of our fellow tabletop gaming nerds, too!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:05:17] - Reflecting on PAX Unplugged 2024
[00:27:44] - Our Time at the TGAs
[00:32:54] - Circana Report on U.S. Video Game Spending for November 2024
[00:39:23] - Gamestop Q3 FY24 Earnings
[00:41:30] - Investment Interlude
[00:47:21] - Quick Hits
[00:55:50] - Labor Report

SOURCES

GameStop Discloses Third Quarter 2024 Results | GameStop

INVESTMENT INTERLUDE

KADOKAWA and Sony Agree to Form Strategic Capital and Business Alliance | Sony
Cooldown Games Formed by WB, Gearbox, and id Software Veterans | Cooldown Games on LinkedIn
Reforged Studios acquires Yellow Lab Games | GamesIndustry
LoopMe Acquires Chartboost from Zynga, Accelerating its Mission to Power Brand Advertising Across the Digital Ecosystem | Business Wire
Build a Rocket Boy acquires PlayFusion | VGC
Dark Passenger Receives $3M Investment from The Games Fund | Ilia Eremeev on LinkedIn

LABOR REPORT

In what will surely come as no surprise at all, the end of Suicide Squad means layoffs at Warner Bros. | PC Gamer
People Can Fly hit with another round of layoffs | GamesIndustry
Glow Up Games is shutting down | Mitu Khandaker on LinkedIn
Layoffs at Deck Nine Games | Deck Nine Games on Twitter
Hothead Games is Shutting Down After 18 Years | Hothead Games on LinkedIn
ZeniMax Online Studios workers form their own union | Engadget

View Details

We now know that Microsoft wasn’t kidding when they said they had no intention of pulling Call of Duty from PlayStation. Whether the Game Pass Gambit pays off or not, Black Ops 6 is selling great on Sony’s console. Also: the rest of the Circana report on U.S. Video Game Spending for October, a pair of Mass Effect alums run into funding trouble, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:] - Ubisoft Shutters Three Studios and Ends XDefiant Development
[00:] - Circana Report on U.S. Video Game Spending for October 2024
[00:] - Investment Interlude
[00:] - Quick Hits
[00:] - Labor Report

SOURCES

Ubisoft Discontinues Development on XDefiant | Ubisoft
Thought Pennies cuts headcount as project loses funding | GamesIndustry
Heart Machine is Undergoing Layoffs | Sol Brennan on LinkedIn
A Message to the Reflector Community | Reflector
Humanoid Origin, the Studio Co-Founded by Mass Effect Director Casey Hudson, is Shutting Down | Humanoid Origin on LinkedIn
BioWare alum Mac Walters freezes indie studio Worlds Untold amid funding search | Game Developer
Report: Kwalee lays off "at least 10" people | GamesIndustry
Torn Banner is Undergoing a Restructure and Layoffs | Torn Banner on LinkedIn
Report: Lilith Games cuts 40 staff as Project Party undergoes changes | PocketGamer
2K Games' motion capture studio votes to unionise | GamesIndustry

INVESTMENT INTERLUDE

Exclusive: Sony is in talks to buy media powerhouse behind 'Elden Ring' | Reuters
FromSoftware parent Kadokawa confirms buyout interest from Sony | GamesIndustry
Play Ventures raises $140m in third gaming fund | GamesIndustry
Tencent acquires majority stake in Kuro Games | GamesIndustry
Bandai Namco subsidiary Bandai Namco Online to be dissolved and merged with parent company | GamesIndustry
My.Games sells hyper-casual game publisher Mamboo | GamesIndustry

View Details

Another bad quarter for Embracer could have ripple effects throughout the industry. Also: Sony, Nintendo, Sega, and Square Enix earnings, legal trouble for NetEase executives, a strike at Activision Blizzard, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:12] - Sony Q2 FY25 Earnings
[00:08:11] - Nintendo H1 FY25 Earnings
[00:23:09] - Sega H1 FY25 Earnings
[00:27:17] - Square Enix H1 FY25 Earnings
[00:31:18] - Embracer Group Q2 FY25 Earnings
[00:34:27] - Investment Interlude
[00:35:50] - Quick Hits
[00:41:10] - Labor Report
[00:46:22] - FAFO

SOURCES

Consolidated Financial Summary for the Second Quarter Ended September 30, 2024 | Sony
Consolidated Results for the Six Months Ended September 30, 2023 and 2024 | Nintendo
Report on Patent Infringement Lawsuit | Pocketpair
Consolidated Financial Results for the Six Months Ended September 30, 2024 | Sega
Consolidated Financial Results for the Six Months Ended September 30, 2024 | Square Enix
Embracer Group publishes Interim Report Q2 | Embracer Group
Thunderful Group Interim Report January–September 2024 | Thunderful
Rime developer Tequila Works files for insolvency | Games Industry
More layoffs at Payload Studios | GamesIndustry
America's Biggest Video Games Union Goes on Strike | Inverse
NetEase employees have allegedly laundered up to $139.3 million in a trading scheme that involves nearly 30 companies | PC Gamer

INVESTMENT INTERLUDE

Modern Times Group buys Plarium for $620M | GamesBeat

View Details

It’s earnings season, so we’re digging into the numbers to help us understand if “Survive until ‘25” is still realistic or if things are going to remain difficult through next year. Also: Circana report on U.S. video game spending for September 2024, a few bright investment items, and a labor report that still shows bumpy roads ahead.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

This episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your one time purchase of Magic Mind or up to 48% off your first subscription at https://www.magicmind.com/VECONOMY20 using the code VECONOMY20.

TIME STAMPS

[00:03:56] - Desert Bus for Hope
[00:05:05] - Circana Report on U.S. Video Game Spending for September 2024
[00:14:26] - EA Q2 FY 25 Earnings
[00:27:11] - Microsoft Q1 FY24 Earnings
[00:35:45] - Ubisoft Q2 FY25 Earnings
[00:39:51] - Remedy Q3 FY24 Earnings
[00:45:24] - Capcom Q2 FY25 Earnings
[00:51:07] - Take-Two Q2 FY25 Earnings
[00:58:35] - Video Game History Museum - Statement on DMCA 2024 Ruling
[01:05:14] - Investment Interlude
[01:12:06] - Quick Hits
[01:14:54] - Labor Report

SOURCES

Electronic Arts Reports Strong Q2 FY25 Results | EA
Earnings Release FY25 Q1 | Microsoft
UBISOFT REPORTS FIRST-HALF 2024-25 EARNINGS FIGURES | Ubisoft
Business Review: January - September 2024 | Remedy
Consolidated financial results for the 2nd Quarter of FY2024 | Capcom
Take-Two Interactive Software, Inc. Reports Results for Fiscal Second Quarter 2025 | Take-Two Interactive
Second Quarter Fiscal FY25 Results and Guidance Summary | Take-Two Interactive
Statement on the DMCA 2024 triennial review ruling | Video Game History Foundation

INVESTMENT INTERLUDE

‘Happy Hunting’ Filmmaker Launches Wolf Haus Games With Funding From ‘PUBG’ Developer Krafton | Variety
Radical Forge raises £2.6m | GamesIndustry
The End of the Beginning | Space Ape
Squido Studio raises $3M for social XR game DigiGods | GamesBeat
Amplitude Studios is Independent after Sega Split | Romain de Waubert de Genlis on LinkedIn

View Details

A scathing report from Hindenburg Research surfaces shocking realities about Roblox’s investor relations and massive failures to protect youth on the platform. Also: Circana Report U.S. video game spending for August 2024, Google is now required to make external app stores more viable, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:26] - Circana Report on U.S. Video Game Spending for August 2024
[00:13:02] - Google Suffers Key Loss in Epic lawsuit
[00:18:53] - Roblox Accused of Investor Malfeasance and Failing to Protect Kids
[00:37:58] - Investment Interlude
[00:47:58] - Quick Hits
[01:06:01] - Labor Report
[01:18:16] - Listener Question

SOURCES

Google must crack open Android for third-party stores, rules Epic judge | The Verge
Roblox: Inflated Key Metrics For Wall Street And A Pedophile Hellscape For Kids | Hindenburg Research
Bandai Namco Cuts Jobs, Culls Titles as Game Sector Woes Deepen | Bloomberg (Paywall)
More Embracer Group layoffs: Star Trek Online developer Cryptic Studios is cutting jobs for the second time in a year | PC Gamer
Don't Nod admits "challenging times" as "reorganisation project" puts up to 69 jobs at risk | GamesIndustry
An Update on How We're Evolving League | Mark Merrill (@MarcMerrill) on Twitter
Tequila Works lays off "small number" of staff, cancels unannounced game | GamesIndustry
Surgent Studios Puts Games Division on Hiatus | Surgent Studios (@surgentstudios) on Twitter
NCSOFT spins off 4 subsidiaries for AI, game development | The Korea Times
Scoop: Netflix shuts down 'AAA' Team Blue gaming studio, amid gaming shake-up | Game File

INVESTMENT INTERLUDE

Ex-Disco Elysium devs announce two rival studios | Game Developer
Saudi Arabia trims stake in Nintendo | GamesIndustry
Keywords Studios to acquire US-based studio Certain Affinity | Keywords
IOI Partners and Leslie Benzies’ Build A Rocket Boy enter a Worldwide Publishing and Distribution Agreement for AAA New Console and PC Game, MindsEye | IOI

View Details

Ubisoft has been under fire since a failed hostile takeover attempt in 2018. Since then, a toxic culture of misogyny and harassment was revealed in 2020 leading to an exodus of talent and a string of underperforming releases. Now, a critical game delay, a board review of operations, and a looming strike in France have tanked the share price as the company is fending off an activist investor bent on forcing the company to eject the Guillemot family and take private equity to save the ailing publisher.

Also: Another very bad time for labor, another story reveals a power struggle inside Annapurna, and Behaviour acquires a new studio just one week after shutting another down.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:35] - Ubisoft is Having Some Trouble
[00:23:56] - What Happened Inside Annapurna Interactive
[00:35:56] - Investment Interlude
[00:44:28] - Quick Hits
[00:57:28] - Labor Report

SOURCES

Ubisoft updates its financial targets for FY2024-25 | Ubisoft
Ubisoft employees in France called to strike over return-to-office mandate | Game Developer
Tencent, Guillemot Family Are Said to Consider Buyout of Ubisoft | Bloomberg (Paywall)
Inside Annapurna Interactive's Mass Walkout | IGN
Annapurna Video-Game Division Imploded Because of Power Struggle | Bloomberg (Paywall)
Layoffs at Smite Developer Hi-Rez | Stewart Chisam (@schisam) on Twitter
UK studio nDreams confirms layoffs could impact 17.5 percent of workforce | Game Developer
Airship Syndicate Lays off 16 People | Airship Syndicate on LinkedIn
NetEase subsidiary Skybox Labs lays off 25 people | GamesIndustry
Report: VR studio XR Games placing 72 employees at 'risk of redundancy' | Game Developer
Redhill Enters Consultation in Advance of Layoffs | Matias Myllyrinne on LinkedIn
Concord Director Steps Down As Studio Behind Historic PlayStation Flop Waits For Sony's Decision | Kotaku
Gamurs Group employees reportedly hit with more layoffs | GamesIndustry
Mountaintop Lays off 13 People | Nicole Carpenter (@sweetpotatoes) on Twitter
Maximum Games has Closed Merge Games | Merge Games (@mergegamesltd) on Twitter
Sharkmob London faces layoffs after game cancelled | GamesIndustry
The Sea is Quiet | Studio Black Flag

INVESTMENT INTERLUDE

Notice to the Extraordinary General Meeting of Remedy Entertainment Plc | Remedy
Future Trash raises $5M to build its IP within Fortnite’s platform | GamesBeat
Absurd Ventures launches new studio with Ascendant Studios staff | GamesIndustry
Playtika to acquire mobile game maker SuperPlay for up to $1.95B | GamesBeat
Behaviour Interactive acquires Red Hook Studios | Behaviour Interactive
Devolver launches Big Fan Games, a publishing label dedicated to movie, TV and comic book adaptations | GamesIndustry
Red Dead Redemption Lead Designer and Writer Christian Cantamessa and Mario + Rabbids Creative Director Davide Soliani Launch Videogame Company Day 4 Night Studios | Day 4 Night

View Details

The PlayStation 5 Pro defies all logic, reaching deeper into diehards’ pockets in the worst economy we’ve seen in 15 years. We break down the challenging economics (while also admiring Mark Cerny’s ASMR-style presentation). Also: GameStop earnings tumble, more Microsoft layoffs, Unity reverses a terrible decision, and can AI companies just stop stealing our stuff?

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:43] - A Quick Chat about PAX West
[00:11:27] - The PS5 Pro Defies Logic
[00:25:43] - Concord’s Short-Lived Life
[00:35:41] - Take This is in Danger of Closing
[00:39:54] - OpenAI and Microsoft are Scraping Game Dev Work
[00:45:11] - Unity’s Road to Redemption
[00:51:30] - Gamestop Q2 FY25 Earnings
[00:56:40] - Investment Interlude
[01:09:55] - Quick Hits
[01:14:45] - Labor Report

SOURCES

Welcome PlayStation 5 Pro, the most visually impressive way to play games on PlayStation | PlayStation Blog
An important update on Concord | PlayStation Blog
Take This is in Danger of Closing Forever | Take This
This was essentially a two-week long DDoS attack': Game UI Database slowdown caused by relentless OpenAI scraping | Game Developer
A message to our community: Unity is canceling the Runtime Fee | Unity
GameStop Discloses Second Quarter 2024 Results | GameStop
Microsoft lays off 650 more Xbox employees | The Verge
Tilting Point making layoffs that could impact 20 percent of global workforce | Game Developer
Rocksteady hit by layoffs after Suicide Squad: Kill the Justice League underperforms | Eurogamer
Helldivers 2 support studio Toadman Interactive to shut offices in Sweden and Norway | Games Industry
Tencent, NetEase Rethink Japan Approach as Game Strategy Stalls | Bloomberg (Paywall)
Lost Boys Interactive has Initiating Another Round of Layoffs | Lost Boys Interactive on LinkedIn
Merge Games closes Chelford office and announces layoffs | Games Industry
Until Dawn remake studio Ballistic Moon lays off staff ahead of the game's release in October | Eurogamer
Incubator Dutch Game Garden shuts down in January 2025 | GamesBeat
3 months after firing Dr Disrespect, Deadrop developer Midnight Society confirms 'significant' layoffs | PC Gamer

INVESTMENT INTERLUDE

Remedy and Annapurna announce a strategic cooperation agreement on Control 2 | Remedy
Annapurna Video-Game Team Resigns, Leaving Partners Scrambling | Bloomberg (Paywall)
Hopoo Games (Risk of Rain) Developers Join Valve | Hopoo Games (@hopoogames) on Twitter
Some Good News for Timbre Games | Joe Nickolls on LinkedIn
Nexon to Establish MINTROCKET Corporation | Nexon
Urgent Call for Strategic and Structural Changes at Ubisoft Entertainment | AJ Investments
Embracer Group receives early payment for sale of Saber assets. | Embracer Group

View Details

We had a hunch that EA Sports College Football was going to be big, and it seems to have single-handedly swung the U.S. video game spending report in a positive direction. Also: Lots of earnings, PS5 price hikes, some acquisitions, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:46] - Circana Report on U.S. Video Game Spending for July 2024
[00:09:36] - Square Enix Q1 FY25 Earnings
[00:16:53] - Nintendo Q1 FY25 Earnings
[00:26:38] - Sony Q1 FY25 Earnings
[00:36:43] - Remedy Q2 FY24 Earnings
[00:44:59] - Sega Q1 FY25 Earnings
[00:49:19] - Take-Two Q1 FY25 Earnings
[00:57:16] - Embracer Group Q1 FY25 Earnings
[01:02:14] - WB Eyes Games Division Sell-Off
[01:11:39] - Investment Interlude
[01:19:06] - Quick Hits
[01:25:32] - Labor Report

SOURCES

Square Enix Financial Results Briefing Session | Square Enix
Nintendo Consolidated Results for the Three Months Ended June 30, 2023 and 2024 | Nintendo
Sony FY2024 Q1 Earnings Announcement | Sony
Remedy Entertainment Plc: Half year financial report | Remedy
Sega Q1 for the Fiscal Year Ending March 2025 Results Presentation | Sega Sammy
Take-Two Interactive Software, Inc. Reports Results for Fiscal First Quarter 2025 | Take-Two
Embracer Group publishes Interim Report Q1 | Embracer Group
Report: WB Discovery looking to sell off games, other divisions to prevent total breakup | Game Developer
Mobile dev Shipyard Games shuts down | Game Developer
Meta shuts down Quest developer Ready at Dawn | Game Developer
VR studio Archiact is closing down | GamesIndustry
5BY5 Interactive has Closed | Ty Buser on LinkedIn
Ubisoft cuts 45 jobs across Cary and San Francisco teams | Game Developer
Visual Concepts lays off staff at Lego 2K Drive South studio | Game Developer
Payload Studios lays off 25% of staff | GamesIndustry

INVESTMENT INTERLUDE

KRAFTON Strengthens Global Presence Through Strategic Integration of Tango Gameworks and Hi-Fi RUSH IP | Krafton
Virtuos expands into the UK with acquisition of Third Kind Games | Virtuous
North Beach Games Opens Prague Studio; Announces Stranded Deep 2 | North Beach Games
Publisher Headup Spins off Developer Goon Squad into Fully Independent Studio | Games Press
Reforged Studios does a double acquisition, buys Ground Shatter and Extra Mile | Game Developer

View Details

Amidst new allegations of insider training, GameStop CEO Ryan Cohen has shuttered Game Informer magazine after 33 years. Also: Earnings time is here, more Bungie layoffs, Netherrealm layoffs, Circana report for June 2024, voice actors on strike, IGN parent Ziff Davis does Humble Games publishing and its partners dirty, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:47] - Circana Report on U.S. Video Game Spending for June 2024
[00:11:02] - Ubisoft Q1 FY2025 Earnings
[00:17:17] - Paradox Q2 FY2024 Earnings
[00:20:55] - Capcom Q1 FY2024 Earnings
[00:27:44] - Microsoft Q4 FY2024 Earnings
[00:39:18] - EA Q1 FY2025 Earnings
[00:49:38] - Investment Interlude
[00:53:03] - Quick Hits
[01:00:32] - Labor Report

SOURCES

Ubisoft Q1 FY2025 Earnings | Ubisoft
Interim report January – June 2024 | Paradox
Consolidated financial results for the 1st Quarter of FY2024 | Capcom
Earnings Release FY24 Q4 | Microsoft
EA Earnings Release Q1 FY25 | EA
Bethesda Game Studios employees form a ‘wall-to-wall’ union | TechCrunch
World of Warcraft developers form Blizzard’s largest and most inclusive union | The Verge
MORTAL KOMBAT DEVELOPER NETHERREALM STUDIOS HIT WITH MASS LAYOFFS | Insider Gaming
Jam City lays off nearly 85 employees as industry fails to hit 'upward trend' | Game Developer
Axis Studios goes into administration | Televisual
Armor Games Studios has seemingly laid off its publishing team | GamesIndustry
Probably Monsters lays off incubation team | Brandi House on LinkedIn
Forte shuts down Rumble Entertainment, its second studio closure in two months | GamesIndustry
The New Path for Bungie | Bungie
Game Informer is Gone | Game Informer

INVESTMENT INTERLUDE

Warner Bros. Games Acquires Player First Games | Warner Bros. via BusinessWire
Look North World raises $4.5m in overall funding | GamesIndustry

View Details

Microsoft is making sweeping changes to Game Pass, seemingly to avoid bleeding out on Call of Duty sales. Also: Circana report for May 2024, SAG-AFTRA updates, more Embracer and Paradox cuts, out of control EA executive pay in the face of layoffs, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:13] - SAG-AFTRA Updates Independent Development Contracts
[00:06:42] - Circana Report on U.S. Video Game Spending for May 2024
[00:13:33] - Microsoft Makes Big Changes to Game Pass
[00:28:56] - Investment Interlude
[00:44:06] - Quick Hits
[00:47:48] - Labor Report

SOURCES

Life By You is Cancelled | Paradox Forums
Paradox Interactive to close down Paradox Tectonic | Paradox
Former Paradox Dev comments on Life by You Cancelation | Willem Delventhal on LinkedIn
Cities Skylines 2 - Console Development Status | Paradox Forums
Pieces Interactive has Been Shuttered by Embracer Group | Pieces Interactive
Embracer-owned Gothic, Risen and ELEX developer Piranha Bytes closes | Eurogamer
Former Piranha Bytes devs form Pithead Studio | GamesIndustry
Galvanic Games is Closing Down | Galvanic Games (@GalvanicGames) on Twitter
GOODBYE, HEROES OF ARMANTIA AND KOJI VILLAGERS | Challengers Games
Gameloft Toronto staff laid off after studio 'substantially' reduces production activity | Game Developer
Perfect World cuts staff in multi-unit layoffs, reportedly suspends game projects | Game Developer
Network N lays off eight from games marketing agency Project N | GamesIndustry
Gamurs Group reportedly lays off unknown number of staff | GamesIndustry
EA execs earned $60 million in 2024 despite layoffs and office closures | Game Developer

INVESTMENT INTERLUDE

Capcom Makes Minimum Studios Co., Ltd. a Subsidiary Through Share Acquisition | Capcom
Keywords Studios reaches £2.2bn acquisition agreement with Swedish investment company EQT | GamesIndustry
Daybreak Games, Singularity 6 to Collaborate on Development of Palia | Daybreak Games
Arc System Works opens European branch | Arc Systems Works EU (@ASW_Official_EU) on Twitter
Dutch publisher Mystic Forge nets €2 million to help indies get to market | Game Developer
Kwalee makes minority investment in Devolver Digital | GamesIndustry
PULLUP Entertainment Announces its results for the 2023/24 financial year | Pullup
Series Entertainment and Pixelberry | Pixelberry
Stellar Blade developer Shift Up raises $320m in IPO | GamesIndustry

View Details

With the video game industry in the midst of the worst labor crisis we've ever seen, collective action is crucial. We're joined by Chrissy Fellmeth, Kelly Larkin, and Andrew Buczacki to discuss how the International Alliance of Theatrical Stage Employees is supporting labor organization and unionization in the video game industry.

Additionally, you can find a transcript of this interview here.

For more on IATSE, you can visit their website, YouTube, and Twitch channels. Additionally, you can find more resources at GameWorkers.org and the GameWorkers.org LinkUp.

View Details

E3 might be dead, but its spirit is clinging to life (even if just by sheer will of the industry and the JW Marriott lobby). We discuss the trends and big learnings from the showcases and a quick visit to SGF Play Days. Also: GameStop earnings, Circana report for April 2024, the latest labor report, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:46] - Summer Game Fest Analysis
[00:56:01] - Circana Report on U.S. Video Game Spending for April 2024
[01:01:38] - Gamestop Q1 FY24 Earnings
[01:04:37] - Investment Interlude
[01:07:00] - Quick Hits
[01:26:45] - Labor Report

SOURCES

GameStop Q1 FY 2024 Earnings | GameStop
Gameloft Romania cuts 136 jobs and closes Cluj studio | Game Developer
Behaviour to lay off up to 95 employees | GamesIndustry
Twitch terminates all members of its Safety Advisory Council | CNBC
Sumo Group Update | Sumo Group
Just Cause developer Avalanche closing two studios and laying off 50 workers | Game Developer
WorldWalker Games Goes Into Hibernation | WorldWalker Games (@wildermyth) on Twitter
Gone Fishin'! | League of Geeks

INVESTMENT INTERLUDE

Former Ubisoft Massive Studio Head Leads New Studio, Bespoke Pixel | Bespoke Pixel

View Details

Atari has finally driven its mortal enemy, Intellivision, and heard the lamentations of its pixels. Also: So. Many. Earnings. We’re covering Sony, Square Enix, Ubisoft, Take-Two, and Embracer. Also, a number of new studios were founded as the labor winter trudges on.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:32] - Sony Q4 and full year FY23 Earnings
[00:17:46] - Square Enix Q4 and full year FY24 Earnings
[00:25:29] - Ubisoft Q4 and full year FY24 Earnings
[00:31:04] - Take-Two Q4 and full year FY24 Earnings
[00:42:40] - Embracer Group Q4 and full year FY24 Earnings
[00:47:13] - Investment Interlude
[00:59:33] - Quick Hits
[01:04:26] - Labor Report
[01:08:25] - FAFO

SOURCES

FY2023 Consolidated Financial Results | Sony
Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 | Square Enix
UBISOFT REPORTS FULL-YEAR 2023-24 EARNINGS FIGURES | Ubisoft
Take-Two Interactive Software, Inc. Reports Results for Fourth Quarter and Fiscal Year 2024 | Take-Two
EMBRACER GROUP PUBLISHES INTERIM REPORT Q4 | Embracer Group
CHANGE OF CFO AND DEPUTY CEO IN EMBRACER GROUP AB | Embracer Group
Mighty Kingdom Is Laying Off 28% of Staff | Mighty Kingdom (@MightyKingdom) on Twitter
Major Layoffs at Phoenix Labs | Nicole Carpenter (@sweetpotatoes) on Twitter
Fragbite Group files bankruptcy for Fall Damage months after purchasing it | Game Developer

INVESTMENT INTERLUDE

ATARI ACQUIRES INTELLIVISION BRAND | Atari
Steel City Interactive raises £15m in funding | GamesIndustry
Former Deviation Games devs form new Sony studio | Eurogamer
Playmob acquired by PlanetPlay parent to create new green video games powerhouse | PR Newswire
ACTIVISION ANNOUNCES ELSEWHERE ENTERTAINMENT | Activision
‘Typical Gamer’ Andre Rebelo Launches ‘Super Studio’ Gaming Company JOGO With $2 Million Investment Into ‘Fortnite’ Content | Variety
Relic partners with investment firm to go fully indie again | Game Developer
Amazon Games expands global footprint with new development studio in Romania | Amazon Games

Note: The Suez Crisis actually took place in 1956, not in 1952. Now, I bet you're wondering why this note is here. GUESS YOU'LL HAVE TO LISTEN TO THE SHOW, FRIEND!

View Details

Sony dug a giant hole and dumped all the Helldivers 2 goodwill into the pit (while cutting off 177 countries). Microsoft lit itself on fire and burned player sentiment to the ground. Good times. Also: Take-Two layoffs target a BAFTA winner, Unity has a new CEO with a massive compensation package, the Circana report for March, and earnings, earnings, earnings.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:56] - Unity’s New CEO
[00:13:42] - Circana Report on U.S. Video Game Spending for March 2024
[00:25:08] - Investment Interlude
[00:33:51] - Quick Hits
[00:40:46] - Labor Report
[01:24:21] - Nintendo Q4 FY24 Earnings
[01:26:54] - Remedy Q1 FY24 Earnings
[01:29:51] - Capcom Q4 FY24 Earnings
[01:35:38] - EA Q4 FY24 Earnings
[01:42:44] - FAFO Awards (Razer, PlayStation)

SOURCES

Unity Appoints Matthew Bromberg as New CEO | Business Wire
Belka Games lays off 20% of workforce as it becomes "more critical" of future titles | PocketGamer
Keoken Interactive Shuts Down (Temporarily, but fully) | Keoken Interactive on Facebook
Paladin Studios is Shutting Down | Paladin Studios on LinkedIn
Lightforge is Laying Off Staff and Pausing Development On Project O.R.C.S. | Matt Shembari on LinkedIn
Prytania Media has Closed the Third of its Four Studios | Dawon Entertainment on LinkedIn
Take-Two reportedly shuts down Roll7 and Intercept Games, Private Division suffers layoffs | GamesIndustry
Microsoft Closes Redfall Developer Arkane Austin, HiFi Rush Developer Tango Gameworks, and More in Devastating Cuts at Bethesda | IGN
Dinga Bakaba Shares Thoughts on Microsoft Studio Closures | Dinga Bakaba (@DBakaba) on Twitter
Microsoft’s Xbox Is Planning More Cuts After Studio Closings | Bloomberg (Paywall)
Inside Microsoft’s Xbox turmoil | The Verge
Microsoft says it needs games like Hi-Fi Rush the day after killing its studio | The Verge
Workers seek to alter the balance of power in Canadian video game industry | Polygon
Razer, Inc. to Pay More Than $1.1 Million for Misrepresenting the Performance and Efficacy of Supposed “N95-Grade” Zephyr Face Masks | FTC
CONSOLIDATED FINANCIAL HIGHLIGHTS | Nintendo
Business Update - January-March 2024 | Remedy
Consolidated Financial Results for the year ended March 31, 2024 | Capcom
Electronic Arts Reports Q4 and FY24 Results | EA

INVESTMENT INTERLUDE

Atari relaunches Infogrames, immediately buys Totally Reliable Delivery Service | Game Developer
Overwolf acquires Nitro | Uri Marchand on LinkedIn
CORSAIR Pursuing an Acquisition of Fanatec, the Leading Brand for Sim Racing Hardware | Corsair

View Details

The Embracer Group name is going away, splitting its mega-conglomerate into three in an attempt to move on from its destructive legacy. But with Lars Wingefors sticking around to lead the holding company, our expectations are tempered. Also: Meta loses billions more as it tries to become the Windows of MR and earnings season is here!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:54] - Embracer Group Splits Into Three Pieces
[00:32:32] - Meta MR Losses Mount
[00:42:03] - Paradox Q1 FY24 Earnings
[00:44:16] - Microsoft Q3 FY24 Earnings
[00:49:10] - Investment Interlude
[00:53:08] - Quick Hits
[01:01:27] - Labor Report

SOURCES

EMBRACER GROUP ANNOUNCES ITS INTENTION TO TRANSFORM INTO THREE STANDALONE PUBLICLY LISTED ENTITIES AT NASDAQ STOCKHOLM | Embracer Group
ASMODEE SECURES FINANCING AGREEMENT OF EUR 900 MILLION AS PART OF SEPARATION, DELEVERAGING THE REMAINING EMBRACER GROUP | Embracer Group
OPEN LETTER BY EMBRACER GROUP CEO ABOUT THE TRANSFORMATION INTO THREE STANDALONE PUBLICLY LISTED ENTITIES | Embracer Group
A New Era for Mixed Reality | Meta
Interim report January – March 2024 | Paradox
Earnings Release FY24 Q3 | Microsoft
Modern Wolf lays off six staff in studio restructuring | Game Developer
‘It’s been really painful’: Ex-Lionhead devs explain why they’ve announced, and shelved, a new game | VGC

INVESTMENT INTERLUDE

Atari Revives Infogrames as a Publishing Label | NewsWire
Krafton acquires minority stake in Forever Skies developer Far From Home | Game Developer
Rummikub maker Goliath continues push into hobby gaming with Lucky Duck Games buyout | BoardGameWire
CMON buys Japon Brand, the company which introduced the world to Love Letter and Machi Koro | BoardGameWire

View Details

Two months after Take-Two said it wasn’t planning layoffs it has… well… by now you know. Also, we’re trying something new and fun with this episode. Join us for a lively discussion about keeping the industry healthy and a deep dive into what the heck differentiates III from AA!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:45] - Discussion Time! (How to build a healthier industry and just what does “indie” mean these days?”
[00:23:49] - Investment Interlude
[00:34:19] - Quick Hits
[00:41:01] - Labor Report

SOURCES

Bold Spirit Games Has Laid Off 30 | Bold Spirit Games (@BoldSpiritGames) on Twitter
Palia Dev Lays Off 35 Percent of Workers Only a Few Months After Beta Release | IGN
EA reportedly kills Apex Legends' UK-based QA team | Game Developer
Take-Two Interactive - Form 8-K | Take-Two Interactive
Meow Wolf to cut 165 jobs across multiple states | Santa Fe Reporter
Kwalee lays off unknown number of staff as it "reshapes business" | GamesIndustry
Jeff and Annie Strain’s Prytania Media Have Closed Possibility Space | Russell Peterson on LinkedIn

INVESTMENT INTERLUDE

Atari has bought Rollercoaster Tycoon 3 for $7m | Eurogamer
Following Baldur's Gate 3, WotC And Hasbro Are Investing $1 Billion In Their AAA Game Ecosystem | GameSpot
PUBG maker Krafton leads $15M investment in to UK studio Red Rover Interactive | Game Developer

View Details

We’ve come full circle. Embracer Group just took a massive loss to get some much-needed cash in hopes of filling a seemingly bottomless hole of debt. Saber is gone. Zen is gone. 4A is gone. Gearbox is gone. Also, SAG-AFTRA may strike against video game companies, some new studios are popping up, but many others are still laying off and closing.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:30] - GDC and PAX East Recap
[00:11:27] - Gaming Safety Coalition
[00:14:53] - Circana Report on U.S. Video Game Spending for February 2024
[00:29:57] - GameStop Q4 FY24 Earnings
[00:33:03] - Investment Interlude
[00:47:40] - Divestment Dinterlude
[01:03:42] - Quick Hits
[01:16:04] - Labor Report

SOURCES

Gaming Safety Coalition | Gaming Safety Coalition
GameStop Reports Fourth Quarter and Fiscal Year 2023 Results | GameStop
Report: Australian studio Torus Games effectively shuts down after 30 years | Game Developer
Eggnut is Closing | Eggnut (@eggnutgames) on Twitter
Deviation Games is Closing | Kriste Stull on LinkedIn
Rooster Teeth Shut Down By Warner Bros. Discovery | Deadline Hollywood
Crop Circle Update | Jennifer Klasing on LinkedIn
Velan Studios Layoffs | Velan Studios on LinkedIn
Something Wicked Layoffs | Eric Webb on LinkedIn
Smilegate Barcelona reportedly closed and all employees let go | VGC
Nintendo makes cuts to US QA contractors | GamesIndustry
A MESSAGE FROM MAX HOBERMAN, CEO OF CERTAIN AFFINITY | Certain Affinity
SAG-AFTRA “50/50, If Not More Likely” To Strike Against Video Game Companies Soon | Deadline Hollywood
Microsoft voluntarily recognizes 600-strong Activision Blizzard QA union | Game Developer
Sega of America workers ratify union contract, protecting 150 employees | Polygon

INVESTMENT INTERLUDE

TURTLE BEACH ANNOUNCES TRANSFORMATIONAL ACQUISITION OF PDP | Turtle Beach
Virtuos acquires Beyond-FX | GamesIndustry
Sensor Tower acquires Data.ai | GamesIndustry
Stellar Blade studio Shift Up files for IPO | GamesIndustry
Shinji Mikami founds new studio, Kamuy Inc. | Game Developer
Popularium secures $2m seed funding for next game by Magic: The Gathering creator Richard Garfield | GamesIndustry
EMBRACER GROUP CEASES ALL OPERATIONS IN RUSSIA THROUGH THE DIVESTMENT OF SELECTED ASSETS FROM THE OPERATIVE GROUP SABER INTERACTIVE | Embracer Group
Tencent reportedly takes over two ByteDance games teams | GamesIndustry
The developer of the two-dimensional game "Nikke" applied for listing at a valuation of 3 trillion won, and Tencent held 24% of the shares Game Grand View | GameLook.com.cn

View Details

Triple-A game development as we know it is unsustainable. It doesn't matter if a game succeeds or fails, the corporate machine is grinding developers up and spitting them out by the thousands. Things need to change.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:29] - Circana Report on U.S. Video Game Spending for January 2024
[00:07:04] - Investment Interlude
[00:18:43] - Quick Hits
[00:21:25] - Labor Report
[00:43:33] - FAFO!

SOURCES

An Important Update from PlayStation Studios | SIE Blog
Difficult News About Our Workforce | SIE Blog
Continuing to evolve our business and teams | EA
Respawn's Star Wars FPS Is Canceled, But Work on Next Jedi Game, Black Panther and Iron Man Will Continue | IGN
Marcus Lehto has departed EA | Marcus Lehto (@game_fabricator) on Twitter
EA cutting "small number" of staff as it sunsets two mobile games | GamesIndustry
Supermassive Confirms Layoffs | Supermassive (@SuperMGames) on Twitter
British Game Maker Supermassive Set to Lay Off 90 Workers | Bloomberg (Paywall)
Die Gute Fabrik is Stopping Production | Die Gute Fabrik (@gutefabrik) on Twitter
ESL Faceit Group lays off 15% of staff 2 years after $1.5B merger | GamesBeat
Star Citizen developer hit with layoffs amid claims of a "highly toxic company" | Eurogamer
Wildlife Studios is laying off 21 percent of its workforce | Game Developer
Keoken Studios lays off Four | Koen Deetman on LinkedIn
Layoffs at Radical Forge | Radical Forge (@RadicalForge) on Twitter
Deck Nine Games lays off 20 percent of staff | Game Developer
‘Grand Theft Auto’ Maker Rockstar Games Asks Workers to Return to Office Five Days a Week | Bloomberg (Paywall)
Nintendo Files Lawsuit Against Creators of Switch Emulator Yuzu | Stephen Totilo (@stephentotilo) on Twitter

INVESTMENT INTERLUDE

GamerSafer acquires Minecraft-focused Minehut server community | GamesBeat
Embracer Group to Sell Saber, Developer of a New ‘Star Wars’ Game Remake, in $500 Million Deal | Bloomberg (Paywall)

View Details

The console market is going through major changes as hardware prices stay high and first party needs to pivot audience strategy. Nintendo may be struggling to find a break-even for its Switch successor, prompting a later release than we anticipated. Also: Embracer Group woes continue, Hasbro loses a ton.

This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at https://www.magicmind.com using the code VirtualEconomy20.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:12] - Sony Earnings for Q3 FY24
[00:18:37] - Starbreeze Earnings for FY23
[00:26:13] - Embracer Group Earnings for Q3 FY24
[00:41:48] - Bandai Namco Earnings Notes for Q3 FY24
[00:43:48] - Hasbro Earnings Notes for FY23
[00:46:46] - Xbox Reveals Multiplatform Plans
[00:49:10] - Epic Games Store Year in Review 2023
[00:52:22] - Investment Interlude
[01:04:24] - Quick Hits
[01:13:12] - Labor Report
[01:22:11] - What Happens if the Switch 2 Doesn’t Come Out in 2024?
[01:36:13] - Listener Questions

SOURCES

Sony Earnings for Q3 FY24 | Sony
Starbreeze Year-End Report | Starbreeze
EMBRACER GROUP PUBLISHES INTERIM REPORT Q3 | Embracer Group
Financial Highlights for the Third Quarter of the Fiscal Year Ending March 31, 2024 | Bandai Namco
From Software now owns the Elden Ring IP | USPTO
Magic, D&D maker Hasbro lost over $1bn in Q4, predicts WotC revenue decline in 2024 | BoardGameWire
Xbox’s Promise to Bring More Games to More Players Around the World | Xbox Wire
Xbox’s Alleged Multiplatform Plans are Making People Angry Prematurely | Virtual Economy
Epic Games Store 2023 Year in Review | Epic Games
Epic Games Store is Coming to iOS | Epic Games (@EpicNewsroom) on Twitter
Genvid Suffers Layoffs | Seana Cavanagh on LinkedIn
Daybreak confirms "less than 15" layoffs | GamesIndustry
Scopely layoffs hit Kingdom Maker team | Games Industry
Disco Elysium studio laying off nearly 25% of its staff⁠—including the final remaining writer from the original game's credits | PCGamer
Everywhere and Mindseye developer Build a Rocket Boy announces layoffs | PCGamesN
Global layoffs at Gameloft as staff in Ukraine and Canada confirm redundancies | Pocket Gamer
Embracer-owned studio Flying Wild Hog has unionized | Game Developer
Things at Toys for Bob may not be so dire | @MauroNL on Twitter
Sources: Nintendo Switch 2 will now launch in 2025 | VGC

INVESTMENT INTERLUDE

Games corporate and VC funding falls 75% to $2.7B in 202 | GamesBeat
Monumental to acquire Game Circus | GamesIndustry
Former EA and King leaders establish new studio Cult of the North | Game Developer

View Details

Microsoft’s layoffs have sent the FTC into a tizzy, adding fuel to the ongoing fire. Also: It’s earnings season, with EA, Microsoft, Capcom, Nintendo, Square Enix, Paradox, Take-Two, Sega, and Meta reporting. We also cover the latest in the layoff storm that continues to drown the industry and Disney’s $1.5B investment in Epic.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:14] - EA Earnings
[00:12:44] - Microsoft Earnings
[00:22:59] - Capcom Earnings
[00:28:23] - Nintendo Earnings
[00:31:09] - Square Enix Earnings
[00:37:45] - Paradox Earnings
[00:42:38] - Take-Two Earnings
[00:49:17] - SegaSammy Earnings
[00:53:09] - Meta Earnings (Brief)
[00:55:57] - Investment Interlude
[01:12:13] - Quick Hits
[01:19:36] - Labor Report

SOURCES

Electronic Arts Reports Strong Q3 FY24 Results | EA
Microsoft Earnings Release FY24 Q2 | Microsoft
Capcom On Track to Achieve Full-Year Guidance | Capcom
Consolidated Results for the Nine Months Ended December 31, 2022 and 2023 | Nintendo
Consolidated Financial Results for the Nine-Month Period Ended December 31, 2023 | Square Enix
Year-end report January – December 2023 | Paradox
Take-Two Interactive Software, Inc. Reports Results for Fiscal Third Quarter 2024 | Take-Two
SegaSammy Q3 Results Presentation | SegaSammy
Meta Reality Labs loses $4.65B in Q4 | Meta
Tencent CEO feels its game business "achieved nothing" during 2023 | Game Developer
Embracer lays off staff at Star Trek: Infinite dev Nimble Giant | Game Developer
Wayfinder dev Airship Syndicate lays off 12 employees | Game Developer
Square Enix absorbs Tokyo RPG Factory | Gematsu
Hidden Path Layoffs | Jeff Pobst on LinkedIn
Roughly half of Devolver's Artificer studio laid off | Games Industry
Devolver Digital CEO Douglas Morin steps down | Games Industry
Layoffs at Netease, MiHoYo, Tencent | Core Esports
The FTC is Going After Microsoft Over Layoffs | Tom Warren (@tomwarren) on Twitter
…And Microsoft has Responded | Tom Warren (@tomwarren) on Twitter

INVESTMENT INTERLUDE

Nordcurrent snaps up Cinemaware library | Games Industry
Disney and Epic Games to Create Expansive and Open Games and Entertainment Universe Connected to Fortnite | Disney
Nitro Games receives further €3.5 million to continue Warframe mobile development | Pocket Gamer
Six Nations-backer CVC in talks to buy Runescape-maker for £900m | Sky News
FromSoftware owner Kadokawa acquires Octopath Traveler studio | Eurogamer

View Details

In the wake of 2020’s bombshell revelations about Activision’s miserable culture and history of defending sexual abusers, we hoped that Microsoft would be a better steward for the company’s 13,000 employees. With 1,900 laid off post-acquisition, we are disappointed and saddened at how wrong we were.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:09] - A word about Microsoft and Activision
[00:07:07] - Apple kinda-but-not-really complies with European Commission rulings
[00:19:03] - The Pokemon Company dragon is stirring, Palworld…
[00:24:10] - Investment Interlude
[00:30:32] - Quick Hits
[00:33:48] - Labor Report
[00:54:48] - Twitch Updates Payment Terms for Streamers

SOURCES

Apple opens App Store to game streaming services | The Verge
Apple is bringing sideloading and alternate app stores to the iPhone | The Verge
When Apple takes the European Commission for fools… | The Platform Law Blog
An Update to Several Streamer Payout Programs | Twitch
Inquiries Regarding Other Companies’ Games | The Pokemon Company
Microsoft lays off 1,900 Activision Blizzard and Xbox employees | The Verge
INTRODUCING JOHANNA FARIES AS THE NEW PRESIDENT OF BLIZZARD ENTERTAINMENT | Blizzard
2K Games makes layoffs at internal studio 31st Union | Game Developer
Netmarble liquidates Grand Cross: Metaworld studio Metaverse World | Game Developer
Report: Black Forest Games cuts 50% of staff | PC Games Insider
Embracer Group Cancels ‘Deus Ex’ Video Game | Bloomberg (Paywall)
Outriders developer People Can Fly reportedly lays off "over 30" employees | Eurogamer
UK recruitment firm OPM closes after 26 years | GamesIndustry
How Goliath bought Prospero Hall’s game assets, but left its heart behind | BoardGameWire
Ruiner studio Reikon Games has reportedly laid off around 80% off its staff | VGC
PUBG owner Krafton sued in sexual assault, wrongful termination case | Polygon

INVESTMENT INTERLUDE

Build A Rocket Boy lands $110 million in funding | GamesIndustry

View Details

It’s been less than one month, and the industry has already suffered more than 3,500 lost jobs. Also: The Circana report for December 2023 and the full year, a few investments, and a discussion about some challenging changes to the U.S. tax code. Oh, and a bit about that weird Palworld game.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:11:08] - Circana report on U.S. Video Game Spending for December and Full Year 2023
[00:27:19] - Investment Interlude
[00:34:06] - Quick Hits
[01:00:58] - Labor Report

SOURCES

SAG-AFTRA and Replica Studios Introduce Groundbreaking AI Voice Agreement at CES | SAG-AFTRA
Replica Studios Agreement for Digital Voice Replicas FAQs | SAG-AFTRA
SAG-AFTRA’s AI Voice Acting Deal Was A Powder Keg Waiting To Go Off | Aftermath
AI Content on Steam | Valve
Report: 3D Realms and Slipgate may have been hit with more layoffs | Game Developer
Employees Say ‘Sizable Portion’ Of Gearbox-Owned Studio Has Been Laid Off | Aftermath
Playtika reduces staff by 10% | GamesIndustry
Discord is laying off 17 percent of employees | The Verge
Thunderful Group to restructure operations for strengthened long-term competitiveness | Thunderful Games
A Difficult Update about our Workforce | Twitch
Changes at Riot and the Road Ahead | Riot
An Important Update about Riot’s Future | Riot
Wimo Games reportedly shuts down | GamesIndustry
Astra Fund repositions as "thinky" publisher Astra Logical following layoffs | Game Developer
Playtika reduces staff by 10% | GamesIndustry

INVESTMENT INTERLUDE

Phoenix Labs execs regroup to form Critical Path Games | Game Developer
Second Dinner raises $100 million to continue growing Marvel Snap | Game Developer
Tencent completes majority ownership of Dying Light dev Techland | Game Developer
Outsourcing studio Obelisk nets $2 million to create original horror title | Game Developer
Rocksteady founders have a new, post-Suicide Squad studio | Polygon

View Details

It’s been a hard year, folks. As we say goodbye to 2023 and turn our attention to a (hopefully) brighter 2024, we’re recapping recent gaming events, November’s Circana report, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:17] - Circana Report on U.S. Video Game Spending for November 2023
[00:09:11] - GameStop Earnings for Q3 2023
[00:13:28] - What’s Going on in China?
[00:19:37] - Twitch: Closing Up Shop in S. Korea, Sexual Content Policy
[00:25:10] - Investment Interlude
[00:25:59] - Quick Hits
[00:27:26] - Labor Report
[00:35:45] - Our Feelings on Coverage of the Insomniac Hack (Discussion)
[00:45:59] - PAX Unplugged (Discussion)
[00:54:47] - The Game Awards (Discussion)
[01:02:42] - Our Favorite Games This Year
[01:13:48] - Listener Questions

SOURCES

GameStop Discloses Third Quarter 2023 Results | GameStop
Activision Blizzard to pay $47M in gender discrimination settlement | Axios
Microsoft announces more Xbox leadership changes as Activision’s Bobby Kotick departs | The Verge
Updates on Twitch in Korea | Twitch
Sexual Content Policy Update | Twitch
Indie publisher Versus Evil has shut down | Game Developer
Jukai Studio Has Shut Down | Jukai Studio (@jukaistudio) on Twitter
Activision Blizzard to pay $47M in gender discrimination settlement | Axios
Microsoft announces more Xbox leadership changes as Activision’s Bobby Kotick departs | The Verge

INVESTMENT INTERLUDE

Keywords acquires The Multiplayer Group, enhancing its Create division | Keywords

View Details

Embracer Group gorged itself during the pandemic when debt was cheap. Now, it’s scrambling to lay off hundreds of people to “win.” Also, Circana report for October, Epic wins against Google, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:04:03] - Embracer Group Q2 Earnings
[00:20:32] - Starbreeze Q3 Earnings
[00:24:59] - Epic wins in court against Google
[00:27:27] - Circana U.S. Video Game Spending Report for October 2023
[00:33:18] - Investment Interlude
[00:45:08] - Quick Hits
[01:11:01] - Labor Report

SOURCES

EMBRACER GROUP PUBLISHES INTERIM REPORT Q2 | Embracer Group
Embracer: Human cost of restructure is "significant" but "necessary" | GamesIndustry
Starbreeze Q3 FY24 Earnings Report | Starbreeze
Epic win: Jury decides Google has illegal monopoly in app store fight | The Verge
Humble Games lays off "valued colleagues" as restructuring begins | Game Developer
Digital Bros Group announces an organizational review, with an expected workforce reduction of approximately 30% | Digital Bros
Kongregate, Digital Bros. cut jobs in a growing wave of video game industry layoffs | Polygon
Phoenix Labs lays off 34 staff | GamesIndustry
Trading Update and Litigation Settlement | TinyBuild
F1 Developer Codemasters Suffers Round of Layoffs | Insider Gaming
Embracer lays off 50 more employees and may soon close resurrected TimeSplitters studio Free Radical Design | PC Gamer
TimeSplitters studio Free Radical Design closed today, staff say | Eurogamer
Insurgency developer New World Interactive affected by layoffs | GamesIndustry
League of Geeks lays off 50% of its staff - but does so with compassion | League of Geeks (@leagueofgeeks) on Twitter
Rovio closes Studio Lumi | GamesIndustry
TripleTopping is Closing | Astrid Refstrup (@AstridMie) on Twitter
CD Projekt voluntarily recognizes Polish developer union | Game Developer
QA staff at Xbox support dev Experis successfully vote to unionize | Game Developer

INVESTMENT INTERLUDE

AONIC ACQUIRES NDREAMS FOR $110 MILLION | Ndreams
Mobile publisher Nordcurrent acquires River End Games | Game Developer
Call of Duty developer Infinity Ward opens new Texas studio | Game Developer
Hearst Newspapers Acquires Puzzle Games Platform Puzzmo | Hearst
ByteDance says to restructure Nuverse in retreat from gaming business | Reuters
ReedPop seeks buyer for Eurogamer, GI, VG247, Rock Paper Shotgun and more | GamesIndustry

View Details

We’re in the thick of earnings season, and it’s hard to swallow positive financial news amid an avalanche of heartbreak labor stories. On this week’s show: Sony EA, Nintendo, Take-Two, Remedy, Sega, and Square Enix earnings.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:35] - Sony Earnings for Q2 FY2023
[00:08:50] - EA Earnings for Q2 FY2024
[00:17:00] - Nintendo Earnings for Q2 FY2024
[00:27:08] - Take-Two Earnings for Q2 FY2024
[00:29:00] - Remedy Earnings for Q3 FY2023
[00:31:02] - Sega Earnings for Q2 FY2024
[00:34:32] - Square Enix Earnings for Q2 FY2024
[00:39:25] - Remedy Update on Project Vanguard
[00:42:57] - Investment Interlude
[00:56:14] - Quick Hits
[00:59:21] - Labor Report
[01:14:05] - Listener Questions

SOURCES

Q2 FY2023 Consolidated Financial Results | Sony
Electronic Arts Reports Strong Q2 FY24 | EA
Consolidated Results for the Six Months Ended September 30, 2023 | Nintendo
IR Presentation for Fiscal Year Ending March 2024 | Nintendo
Take-Two Q2 FY24 Earnings | Take-Two
REMEDY ENTERTAINMENT PLC: Q3 2023 | Remedy
Remedy Entertainment plans to reboot codename Vanguard to a premium game with a strong cooperative multiplayer component | Remedy
Q2 for the Fiscal Year Ending March 2024 | Sega
Results Briefing Session for the Six-Month Period Ended September 30, 2023 | Square Enix
Sony’s Bungie Game Unit Cut 8% of Staff After ‘Destiny’ Play Wilted | Bloomberg (Paywall)
Embracer's implosion continues as Star Trek Online developer Cryptic Studios lays off employees | PC Gamer
Motorsport Games to lay off up to 38 employees | GamesIndustry
100 Thieves to cut 20% of its workforce | GamesIndustry
The layoffs continue: Ubisoft cuts 124 jobs worldwide, including nearly 100 in Canada | PC Gamer
Worker co-op dev The Glory Society has shut down | Game Developer
Unity is probably going to do layoffs | The Verge
Wayfinder, Warframe publisher Digital Extremes cuts workers, divests from Wayfinder | Polygon
Samurai Punk is ceasing development | Twitter
Samurai Punk staff | Twitter
Amazon Lays Off 180 Employees In Its Games Division | Aftermath

INVESTMENT INTERLUDE

Global Gaming Report Q3 2023 | Drake Star
Atari enters into an agreement to acquire Digital Eclipse | Atari
System Era Acquired by Devolver | System Era
Midwest Games secures $3m in funding | GamesIndustry
Neowiz invests in Blank Game Studios | GamesIndustry

View Details

With Microsoft’s Activision acquisition closed, the Xbox leadership team has reorganized in some unexpected ways. Also: Microsoft and Capcom earnings, more layoffs, Paradox says goodbye to Harebrained Schemes, Unity boots John Riccitiello, and we have the latest Circana report on U.S. Game spending.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:49] - Circana report on U.S. Video Game Spending for September 2023
[00:17:47] - Unity gives John Riccitiello the boot
[00:24:16] - Microsoft Q1 FY24 Earnings
[00:36:51] - Capcom Q2 FY24 Earnings
[00:42:31] - Investment Interlude
[00:52:41] - Quick Hits
[01:03:44] - Labor Report
[01:12:25] - Let’s Talk about the GaaSacre
[01:20:08] - Listener Questions

SOURCES

Unity Announces Leadership Transition | Unity
“Fuck you, we’re not paying”: inside Unity’s Runtime Fee fiasco | MobileGamer.biz
Microsoft Q1 FY24 Earnings | Microsoft
Consolidated financial results for the 2nd Quarter of FY2023 | Capcom
Paradox says The Lamplighters League sales were 'a big disappointment,' confirms recent layoffs at developer Harebrained Schemes | PC Gamer
Zen Studios reportedly cuts staff by 32 | GamesIndustry
Embracer-owned Digic to lay off 35 employees | GamesIndustry
Frontier to lay off unknown number of staff in organisational review | GamesInudstry
Full extent of Team17 cuts threaten third of the company - sources | Eurogamer
Virtuos Studios seemingly closes Calypte one year after opening | Game Developer
Epic Games cuts almost half of Bandcamp pre-Songtradr sale | Game Developer
PlayStation lays off staff at Visual Arts support dev | Game Developer

INVESTMENT INTERLUDE

GameSquare To Acquire One of the Biggest Names in Gaming, FaZe Clan | GameSquare
Xsolla Announces Acquisition Of Lightstream, Rainmaker And Api.Stream | Xsolla
Fragbite to acquire Fall Damage | GamesIndustry
Space Rock Games secures $900,000 in funding | GamesIndustry

View Details

The industry’s labor situation is reaching a boiling point, as Epic Games sacrifices employees on the altar of its fight against Apple and Google. Also: Unity has burnt its goodwill to the ground, voice actors prepare to strike, a leadership shake-up at PlayStation, and Microsoft’s purchase of Activision Blizzard now seems like a sure thing.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:31] - The State of the Industry
[00:09:05] - Unity Update - An Attempt to Save Face
[00:28:57] - Bye bye, Jim Ryan
[00:30:03] - Epic Implements IARC Ratings for Fortnite Creative & more Parental Controls
[00:35:59] - Investment Interlude
[00:41:50] - Quick Hits
[00:50:18] - Labor Report
[01:18:27] - Listener Questions

SOURCES

Introducing IARC Ratings in Fortnite, Paving the Way for a Multi-Game Ecosystem | Epic Games
Epic Games Safety and Security Center | Epic Games
Crystal Dynamics (Embracer) Layoffs | Crystal Dynamics (@crystaldynamics) on Twitter
Embracer open to divesting studios, confirms more closures on the horizon | Game Developer
Roblox cuts 30 on talent acquisition team as hiring slows | TechCrunch
Blizzard lays off several Hearthstone developers after restructuring team | Game Developer
Hyenas Cancelation and Layoffs at Creative Assembly | Creative Assembly (@CAGames) on Twitter
Significant job losses likely at Worms publisher Team17 - sources | Eurogamer
Last Of Us Studio Naughty Dog Is Cutting Developers | Kotaku
Boomerang X Developer Dang is Shutting Down | Dang (@dangmakesgames) on Twitter
CLOSING PUNY HUMAN | Puny Human
Layoffs at Epic | Epic Games
Five former Ubisoft executives arrested after sexual harassment investigation | GamesIndustry (via Libération)
Terminated BioWare Employees Sue for Better Severance | Jon Renish (@jonrenish) on Twitter
SAG-AFTRA Members Approve Video Game Strike Authorization Vote With 98.32% Yes Vote | SAG-AFTRA
Nickelodeon game developer Workinman unanimously votes to unionize | Game Developer
Over 100 Developers of Just Cause, Contraband at Avalanche Studios Have Unionized | IGN
CD Projekt Red devs unionise after its third round of layoffs in three months | Eurogamer

INVESTMENT INTERLUDE

VIRTUOS LAUNCHES GAME DEVELOPMENT STUDIO IN TOKYO | Virtuos
Supercell acquires majority stake in Ultimate Studio | GamesIndustry
XSOLLA ACQUIRES ACCELERATXR | XSOLLA
New Microsoft/Activision deal addresses previous CMA concerns in cloud gaming | UK CMA

View Details

At PAX West, we spoke with Serenity Forge founder and CEO Z about the risks, challenges, and opportunities in the indie publishing world. With brutal macroeconomic headwinds and massive consolidation, the pressure is on for small publishers. Find out how Serenity Forge is weathering the storm.

View Details

Unity couldn’t have made a bigger mess of its reputation in the game development community. Also: Microsoft’s big leak, GameStop earnings, Circana report for August, SAG-AFTRA fires a shot at video game publishers, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:45] - PAX West
[00:25:15] - GameStop Earnings
[00:27:50] - Unity’s Foolish Moves
[00:51:32] - Investment Interlude
[01:18:59] - Quick Hits
[01:25:50] - Labor Report
[01:40:44] - Circana Report on U.S. Consumer Video Game Spending for August 2023
[01:44:43] - Listener Questions
[01:49:11] - FAFO

SOURCES

GameStop Discloses Second Quarter 2023 Results | GameStop
CHANGES TO UNITY PLANS AND PRICING (September 12, 2023) | Unity
Volition Announces its Closure | Volition (@DSVolition) on Twitter
Report: Embracer layoffs impact staff at MX vs ATV developer Rainbow Studios | Game Developer
Imagendary Studios reportedly lays off majority of staff | GamesIndustry
Gloria Victis Final Season | Gloria Victis on Steam
Lego 2K Drive developer Visual Concepts hit with layoffs | Game Developer
Immortals of Aveum studio lays off nearly half of staff weeks after release | Polygon
Ascendant Studios CEO Confirms Layoffs | Bret Robbins (@BretRobbins) on Twitter
Ubisoft is shutting down its London studio | Game Developer
Ubisoft Montreal in Turmoil Amid What Developers are Calling Broken Promises | IGN
SAG-AFTRA National Board Votes Unanimously to Send Interactive Media (Video Game) Strike Authorization Vote to Members | SAG-AFTRA

INVESTMENT INTERLUDE

Sumo Group acquires mobile game dev studio Midoki | Sumo Group
SOEDESCO® acquires development studio: Kyodai | Soedesco
Atari acquires AtariAge | GamesIndustry
Playtika Holding Corp. Enters Definitive Agreement to Acquire Innplay Labs | Playtika
FaZe Clan is flaming out on Nasdaq as Chairman resigns | GamesBeat
Humble Games interested in studio acquisitions and first-party development | Game Developer
Carlyle weighs options for 'RuneScape' creator Jagex, sources say | Reuters

View Details

The Microsoft/Activision deal is still alive. And now, Ubisoft has been folded into the conversation with control of cloud streaming rights. Also: Earnings (Square Enix, Sony, Take-Two, Embracer Group), The July 2023 Circana Report on U.S. Video Game Spending, Xbox’s new moderation system, and a listener question about the Xtra Small Small.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:36] - Square Enix Q1 FY24 Earnings
[00:07:16] - Take-Two Q1 FY24 Earnings
[00:14:51] - Sony Q1 FY24 Earnings
[00:18:24] - Embracer Group Q1 FY24 Earnings
[00:26:23] - Investment Interlude
[00:41:24] - Quick Hits
[00:46:17] - Labor Report
[00:50:59] - Circana Report on U.S. Video Game Spending for July 2023
[00:54:19] - Xbox’s New Moderation System
[00:56:46] - Listener Question

SOURCES

Square Enix Q1 FY24 Earnings | Square Enix
Sony Q1 FY24 Earnings | Sony
Take-Two Q1 FY24 Earnings | Take-Two
Embracer Group Q1 FY24 Earnings | Embracer Group
Scoop: Saudi-funded Savvy Games was the mystery partner in collapsed $2B Embracer deal | Axios
Embracer is Moving to Shutter Campfire Cabal | Campfire Cabal on LinkedIn
Xbox Introduces Enforcement Strike System | Xbox Wire
Xbox 360 Store and Xbox 360 Marketplace FAQ | Xbox Support
An Update on the State of BioWare | BioWare

INVESTMENT INTERLUDE

Telltale Acquires Flavourworks | Telltale
Behaviour Interactive Acquires Award-Winning Codeglue | GamesPress
Roleplay Community Update | Rockstar Games
VIRTUOS EXPANDS GAME ENGINEERING CAPABILITIES WITH LAUNCH OF VIRTUOS LABS – PRAGUE | Virtuous
Krafton commits $150 million to India following BGMI trial approval | TechCrunch
Play Ventures raised at least $78M for third gaming venture fund | GamesBeat
Microsoft and Activision Blizzard restructure proposed acquisition and notify restructured transaction to the UK’s Competition and Markets Authority | Microsoft
Microsoft submits new deal for review after CMA confirms original deal is blocked | UK CMA
Activision Blizzard Games Coming To Ubisoft+ | Ubisoft
Microsoft's Activision Blizzard merger approved in New Zealand | Game Developer

View Details

The Entertainment Software Ratings Board wants to use facial scanning to keep your kids from playing GTA and other adult-focused games. Also, it’s earnings season, with Microsoft, Capcom, Sega, and EA kicking us off. We also cover two more instances of the dreaded “payoffs for layoffs,” and a heap of listener questions!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:1:55] - Circana Report on U.S. Video Game Spending for June 2023
[00:13:20] - Microsoft Q4 FY23 Earnings
[00:19:43] - Capcom Q1 FY24 Earnings
[00:23:40] - Sega Q1 FY24 Earnings
[00:29:51] - EA Q1 FY24 Earnings
[00:31:28] - Nintendo Q1 FY24 Earnings
[00:35:55] - Investment Interlude
[00:45:39] - Quick Hits
[00:56:30] - Labor Report
[01:02:41] - The ESRB Wants to Use Facial Scanning for Age Gating
[01:13:20] - Listener Questions

SOURCES

Microsoft Earnings Release FY23 Q4 | Microsoft
Capcom Q1 FY24 Earnings | Capcom
Capcom Makes Swordcanes Studio Co., Ltd. a Wholly-Owned Subsidiary Through Share Acquisition | Capcom
Sega Q1 FY24 Earnings | Sega
Electronic Arts Reports Strong Q1 FY24 Results | EA
Nintendo Q1 FY24 Earnings | Nintendo
Financial Results Explanatory Material | Nintendo
Take Two Interactive execs' pay doubled this year | Axios
Discord Lays Off 4% of Workforce | The Information
15 USC 6501: Definitions (house.gov)
What Do We Do About the Biases in AI? (hbr.org) | Harvard Business Review
If consoles can't crack China, their future is limited | GamesIndustry.biz

INVESTMENT INTERLUDE

TECHLAND'S NEXT CHAPTER AND THE ROAD AHEAD | Techland
MICROSOFT’S SUBMISSIONS ON MATERIAL CHANGES OF CIRCUMSTANCES | UK CMA

View Details

The FTC is down for the count after losing in court and seeing an emergency injunction denied. We discuss where things go from here as the UK CMA stands alone. Also, a bunch of new studios were announced, Bungie wins a big victory against a toxic troll, and Xbox works to make it harder for harassers online.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:52] - Pathfinder Open Gaming License
[00:09:39] - New Xbox Voice Reporting Feature
[00:13:14] - Xbox Live is Dead, Here Comes Game Pass Core
[00:19:14] - Investment Interlude
[00:32:21] - Activision Blizzard FTC
[00:45:54] - Quick Hits
[00:48:19] - Labor Report
[00:57:12] - FAFO x2
[01:06:59] - Listener Questions

SOURCES

The creators of Pathfinder have released their own version of D&D's controversial OGL—and it could have a huge impact on all tabletop RPGs | PC Gamer
paizo.com - Community | Paizo Blog
Xbox Launches New Voice Reporting Feature | Xbox Wire
Introducing Xbox Game Pass Core, Coming This September | Xbox Wire
Sega of America workers win union vote | Polygon
Pokémon Go creator Niantic accused of ‘systemic sexual bias’ in lawsuit | The Verge
Splash Damage transitions to 4-day work weeks | Game Developer
Yuji Naka gets a $1.2 million fine and a suspended prison sentence for insider trading | VGC
Justice served: Destiny 2 harasser forced to pay Bungie nearly $500,000 in damages | Windows Central
Bungie, Inc v Jesse James Comer - Default Judgment and Order | Superior Court of the State of Washington

INVESTMENT INTERLUDE

CORSAIR TO ACQUIRE DROP ASSETS; FURTHER EXPAND PERIPHERALS BUSINESS | Corsair
Cloud Imperium Group Acquires Turbulent | CIG
Lightspeed Studios acquires Destruction AllStars dev Lucid Games | Game Developer
Tencent invests in new triple-A studio from Playground Games co-founder | Eurogamer
Meet Cliffhanger Games | EA
Canada’s Behaviour Interactive opens new UK studio | Behaviour
People Can Fly Opens a Montreal Location | People Can Fly on LinkedIn
Q-Games alumni form Denkiworks | GamesIndustry
Microsoft wins FTC fight to buy Activision Blizzard | The Verge
Preliminary Injunction Opinion | United States District Court, Northern District of California
FTC is appealing ruling that cleared Microsoft to buy Activision Blizzard | The Verge
Court denies FTC’s last-ditch attempt to stop Microsoft buying Activision Blizzard | The Verge
Microsoft to modify Activision Blizzard acquisition to address CMA concerns | GamesIndustry
The Trade Desk, Inc. to Join the Nasdaq-100 Index Beginning July 17th, 2023 | NASDAQ
Microsoft's Activision Blizzard merger approved in South Africa | Game Developer

View Details

This week saw the long-awaited showdown between the FTC and Microsoft, as the U.S. Government seeks an injunction to prevent the Activision acquisition. Also; new studios opening amidst an otherwise grim labor report, the latest Circana U.S. spending report, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:17] - Circana U.S. Video Game Spending Report for May 2023
[00:19:41] - Twitch Partner Plus
[00:27:05] - Investment Interlude (With a Big Conversation about the Microsoft/Activision FTC Hearing)
[00:57:42] - Quick Hits
[01:03:12] - Labor Report

SOURCES

Introducing the Partner Plus Program | Twitch
How many Twitch partners are actually eligible for Partner Plus? | Streams Charts
IATSE Launches Gameworkers.org, First-Ever Video Game Industry Study | IATSE
EMBRACER GROUP ANNOUNCES COMPREHENSIVE RESTRUCTURING PROGRAM | Embracer Group
Danish studio Kiloo Games lays off staff before July closure | Game Developer
Season developer Scavengers Studio hit with "massive layoffs" | Game Developer
Hi-Rez Studios lays off employees in company restructuring | Game Developer
Niantic Organizational Update | Niantic
Daedalic Entertainment closes development department | Games Wirtschaft

INVESTMENT INTERLUDE

Focus Entertainment taps Ubisoft veterans to establish Carpool Studio | Game Developer
PCF GROUP SA (22/2023) Conclusion of a production and publishing agreement with Microsoft Corporation - report 22/2023 | Interia Biznes
Krafton opens new studio, ReLu Games, to develop deep learning titles | Game Developer
Scopely acquires Scottish mobile developer Tag Games | Game Developer
Order re: Temporary Restraining Order and Preliminary Injunction | FTC
Sony says it wouldn't share PS6 details with Microsoft-owned Activision | Eurogamer
Microsoft considered acquiring Bungie and Sega to bolster Xbox Game Pass, internal emails show | The Verge
Sega is not open to acquisitions, following speculation around Microsoft bid | GamesIndustry
Canada regulator says Microsoft-Activision deal "likely" to harm competition | GamesIndustry
UK court blocks request to delay CMA and Microsoft trial | GamesIndustry

View Details

On the eve of its earnings announcement, Embracer Group saw a nearly-signed $2B deal fall apart. We discuss the potential impact. Also: GameStop back in crisis, a huge number of layoffs, and the strange tale of Disco Elysium continues.

Note: We discuss Cyberpunk 2077 and the Phantom Liberty DLC during this episode. While we were confused that Phantom Liberty was a no-show during Geoff Keighley's Summer Game Fest presentation, the game did make an appearance during the Xbox event.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:11] - Embracer Group Earnings for FY23
[00:10:02] - Sony Business Segment Meeting - New Data
[00:21:25] - GameStop Earnings for Q1 2023
[00:29:11] - Investment Interlude
[00:38:38] - Quick Hits
[00:57:28] - Labor Report
[01:19:48] - Microsoft Hit with $20M COPPA Violation Fine
[01:23:51] - Apple’s Vision Pro and the $3,500 Price Tag

SOURCES

Embracer Group Interim Report - Q4 and FY23 | Embracer Group
Sony Business Segment Meeting 2023 Game & Network Services Segment | Sony
CD Projekt Q1 2023 Earnings | CD Projekt
GameStop Discloses First Quarter 2023 Results | GameStop
Rising Storm studio Antimatter Games is being closed | PC Gamer
Stranger Things 3 game developer BonusXP to close down | Game Developer
Kirby support developer Vanpool has shut down | Game Developer
Relic Layoffs | Relic Entertainment (@relicgames) on Twitter
Life is Strange dev Deck Nine Games hit with staff layoffs | Game Developer
Firaxis is latest video game studio hit by layoffs | Axios
CD Projekt Red to Lay Off Around 30 Employees as Gwent Development Winds Down | IGN
Redundancies hit Marvel Contest of Champions publisher Kabam | GamesIndustry
Meta is laying off employees for the third time in less than three months | Engadget
EA reportedly lays off two thirds of Firemonkeys Studio | GamesIndustry
Star Wars: The Old Republic Going Third-Party as BioWare Focuses on Mass Effect and Dragon Age
Bandcamp has successfully unionized at Epic Games | Game Developer
Many teams, one Goodbye. Thank you for playing Blaseball. | The Game Band
Investigation: Who’s Telling the Truth about Disco Elysium? | People Make Games
FTC Will Require Microsoft to Pay $20 million | FTC
Xbox FTC Settlement and Reimagining the Future of Safety on Xbox | Microsoft

INVESTMENT INTERLUDE

NetEase Games Introduces Bad Brain Game Studios, a New Studio Based in Canada | PR Newswire
God of War Art Director Raf Grassetti forms new studio for Netflix | Raf Grassetti (@rafagrassetti) on Twitter
Shareholders call for a sale of EG7 | GamesIndustry

View Details

One day we’ll be free of the Microsoft/Activision deal, but that day is NOT today. Also: Nintendo, EA, Starbreeze, Square Enix, Capcom, and Take-Two Earnings, acquisitions, the Circana US Video Game Spending report for April 2023, more layoffs, and a Double FAFO.

Support Miranda Due, former Unity employee, who is looking for work. You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:48] - Nintendo Earnings FY23
[00:08:06] - EA Earnings Q4 and FY23
[00:16:47] - Starbreeze Q1 FY23 Earnings
[00:21:39] - Square Enix FY23 Earnings
[00:25:09] - Capcom FY23 Earnings
[00:29:19] - Take-Two FY23 Earnings
[00:43:08] - Investment Interlude
[00:51:17] - Quick Hits
[00:57:24] - Labor Report
[01:04:56] - Circana Report on US Video Game Spending for April 2023
[01:09:03] - Double FAFO

SOURCES

Nintendo Full Year FY23 Earnings | Nintendo
EA Q4 and Full Year FY23 Earnings | EA
Starbreeze Q1 FY23 Earnings | Starbreeze
Square Enix FY23 Earnings | Square Enix
Capcom FY23 Earnings | Capcom
Take-Two FY23 Earnings | Take-Two
CD Projekt makes layoffs after rescoping its Witcher spin-off game | VGC
Sony Studio PixelOpus, Best-Known for Concrete Genie, Is Shutting Down | IGN
PlayStation-backed Deviation Games hit with layoffs | VGC
Ubisoft Hit by More Layoffs in Customer Service and Elsewhere | IGN
Report: Brace Yourself Games lays off half its staff | Game Developer
Riot's $100 million gender discrimination settlement granted final approval | Game Developer
Unity employee fired for sharing comments from executive suggesting employees rent in downtown SF to make RTO easier | Miranda Due (@MirandaDue) on Twitter
Destiny 2 cheat maker refuses to show up for court and now owes Bungie $6.7 million | PCGamer

INVESTMENT INTERLUDE

ANTICIPATED ACQUISITION BY MICROSOFT CORPORATION OF ACTIVISION BLIZZARD, INC. | UK Competition and Markets Authority
Mergers: Commission clears acquisition of Activision Blizzard by Microsoft, subject to conditions | European Commission
UK CMA Responds to EU Approval of Microsoft's Acquisition of Activision Blizzard | UK Competition and Markets Authority (@CMAgovUK) on Twitter
Microsoft President Brad Smith on EU Decision | Brad Smith (@bradsmi) on Twitter
Certain Affinity Announces Grand Opening of New Toronto Facility | Certain Affinity
KEYWORDS STUDIOS EXTENDS US PRESENCE AND ADDS FURTHER AAA EXPERTISE TO ITS CREATE SERVICE LINE THROUGH THE ACQUISITION OF HARDSUIT | Keywords Studios
Atari Closes the Acquisition of Nightdive Studios | Atari

View Details

After years of stumbling in the mobile space, Sega decided to throw $775M at the problem with the acquisition of Rovio. Also: Lots of layoffs, some acquisitions, a bunch of earnings, and the March Circana report on U.S. video game spending.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:06] - Epic v Apple… The End
[00:04:03] - Microsoft Earnings for Q3 FY23
[00:14:21] - Sony Earnings for FY23
[00:18:13] - Remedy Earnings for Q1 FY23
[00:21:02] - Paradox Earnings for Q1 FY23
[00:23:14] - Sega Earnings for FY23
[00:26:32] - Investment Interlude
[00:42:23] - Quick Hits
[00:55:35] - Labor Report
[01:03:59] - Circana U.S. Video Game Spending report for March 2023
[01:15:57] - FAFO

SOURCES

UNITED STATES COURT OF APPEALS FOR THE NINTH CIRCUIT | Court Listener
Microsoft - Earnings Release FY23 Q3 | Microsoft
Sony - FY2022 Earnings Announcement | Sony
REMEDY ENTERTAINMENT PLC’S BUSINESS REVIEW JANUARY-MARCH 2023 | Remedy
Paradox Interim report January – March 2023 | Paradox
Sega Consolidated Financial Results for the Year Ending March 31 | Sega
SEGA to Acquire Rovio Entertainment Oyj | Business Newswire
Paradox closing Umea and Malmo studios to veer away from decentralized development | Game Developer
Amazon Lays Off About 100 Employees in Its Gaming Divisions | Bloomberg (Paywall)
InnoGames lays off 75 staff | GamesIndustry
Ready at Dawn and Downpour Interactive impacted by Meta layoffs | Game Developer
Sega of America is the latest video game studio to organize | The Verge
Sega of America president reacts to unionization | Stephen Totilo (@stephentotilo) on Twitter
Phoenix Labs cuts staff | GamesIndustry
Documents in Activision Blizzard, Case No. 31-CA-316279 | NLRB

INVESTMENT INTERLUDE

Devolver Purchased Doinksoft | Devolver Digital (@devolverdigital) on Twitter
Savvy Games Group To Acquire Leading Games Company Scopely | Savvy Games
Focus Entertainment acquires the acclaimed UK-based Dovetail Games Group | Dovetail Games
Sony is Fueling the Gamer Lawsuit Against the Microsoft / Activision Acquisition | Stephen Totilo (@stephentotilo) on Twitter
Welcoming Firewalk Studios to the PlayStation Studios family | PlayStation Blog
AQUIRIS is Joining Epic and Becoming Epic Games Brasil | Epic Games
Atari Announces Acquisition of More than 100 PC and Console Titles from the 80s and 90s | GlobeNewswire

View Details

It's a very special, very weird episode from sunny Dubrovnik, Croatia! We're thrilled to have the one, the only ANDY PAN join us for a discussion about the UK Competition and Markets Authority's decision to deny Microsoft's acquisition of Activision Blizzard on the basis of the cloud gaming business.

You can read the full decision here: Microsoft / Activision deal prevented to protect innovation and choice in cloud gaming. For the full context, listen to our recent legal issues episode from GDC.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

At GDC 2023, we got the gang back together for another down-and-dirty legal issues conversation. We're grateful to Brandon Huffman, founder of Odin Law & Media, and Ryan Black, partner at DLA Piper, for joining us again this year.

On the docket for this year:

The Rise and Fall of Web3 at GDC (Good riddance!)
The state of mergers and acquisitions in the industry and beyond
The growing need for unionization and the current labor initiatives across the industry
The future of non-compete clauses in the United States
The emerging challenges with AI technologies
Looking toward the future of legal issues, including the fate of Section 230 (Safe Harbor) in the United States

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

The new ReedPop-run E3 died before it could live… or was it… MURDERED?! (Spoiler: It was murdered.) Also: GameStop leans on cost cutting to finally turn a modest profit, Microsoft is one step closer to closing its Activision deal, established studios expand, while layoffs also run rampant.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:54] - E3 is DED! (Again!)
[00:17:46] - Circana US Video Game Spending Report for February
[00:25:14] - GameStop FY 2023 Earnings
[00:29:43] - Investment Interlude
[00:41:51] - Quick Hits
[00:53:02] - Labor Report

SOURCES

GameStop Reports Fourth Quarter and Fiscal Year 2022 Results | GameStop
Epic-Owned Bandcamp is Unionizing | Bandcamp United (@bandcampunited) on Twitter
Twitch lays off hundreds amid Amazon cuts | Polygon
16 Years Of Twitch | Twitch
Layoffs reported at Worms maker Team17 | Eurogamer
Logitech Cuts 300 Jobs on Post-Covid Slump in Computer Gadgets | Bloomberg (Paywall)
An update on our people and business | EA
Disney Shuts Down Metaverse Unit as Part of First Wave of Layoffs | Variety

INVESTMENT INTERLUDE

UK regulator sides with Microsoft over Call of Duty on PlayStation concerns | The Verge
Small band of gamers fail to block Microsoft Activision Blizzard bid | Eurogamer
Ex-Blizzard leaders Jen Oneal and J. Allen Brack create startup studio Magic Soup Games | GamesBeat
PCF GROUP (PEOPLE CAN FLY) WILL HAVE A NEW 10% SHAREHOLDER — KRAFTON INC., ONE OF SOUTH KOREA’S LARGEST GAME PUBLISHERS AND DEVELOPERS | People Can Fly
Maximum Entertainment Completes the Acquisition of FUN Labs | Zordix
Respawn opens third studio to keep Apex Legends going for '10 to 15 years' | GamesIndustry
Total War makers open a third development studio | PC Gamer

View Details

Square Enix is having a time of it, as its Web3-loving CEO is leaving and Luminous Productions is no more. Also: Ubisoft and Activision messing up labor issues again, and the US is investigating extremism in online games. Also, Manda is going to talk to you about The Lord of the Rings, and Mike will do his best Gollum impression. Maybe.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:04] - Square Enix Needs to Sort Itself Out
[00:05:41] - The US Government Wants to Know About Extremism in Online Games
[00:09:21] - Epic Lays Out Its Plans for the Future of Epic Games Store
[00:13:29] - Investment Interlude
[00:17:04] - Quick Hits
[00:33:06] - Labor Report
[00:42:54] - FAFO!

SOURCES

An Update from Luminous Productions | Luminous Productions (@LumiPro_EN) on Twitter
Reorganization within the SQUARE ENIX GROUP | Square Enix
"FINAL FANTASY XVI" Trial Review & Interview! Overwhelming presence of the summoned beast felt in full-scale action! | PlayStation Blog JP
Yuji Naka admits to insider trading | Square Enix
Notification of Changes in the Representative Director of the Company and a Consolidated Subsidiary | Square Enix
Exclusive: U.S. rep mulls legislative action to press games industry on extremism | Axios
Epic Games Store Launches Self-Publishing Tools for Game Developers and Publishers | Epic Games
Beyond Good And Evil 2 Studio Head No Longer At Ubisoft | Kotaku
EA Lays Off Over 200 Apex Legends Testers Over Zoom Call | Kotaku
Activision fired two testers for 'profane' language, now a major tech union is filing charges | PC Gamer
Take-Two confirms layoffs following 'exponential growth in recent years' | PC Gamer
Gameloft closes Budapest studio as it shifts focus to console and PC | GameDeveloper
Lince Works is Shutting Down | Lince Works (@LinceWorks) on Twitter
Destiny 2 cheat maker AimJunkies ordered to pay $4.4 million to Bungie | Game Developer
Bungie seeks $6.7m default judgment in case against LaviCheats | GamesIndustry

INVESTMENT INTERLUDE

Canadian Gaming Leader Behaviour™ Interactive Acquires Award-Winning SockMonkey Studios | GamesPress
EMBRACER GROUPS’S MIDDLE-EARTH ENTERPRISES AND NEW LINE CINEMA JOIN FORCES TO FURTHER EXPLORE THE CINEMATIC UNIVERSE OF “THE LORD OF THE RINGS” AND “THE HOBBIT” | Embracer Group

View Details

It’s been a bloody couple of weeks for service-based games, and we suspect the murderer is still on the loose. Also: IT’S EARNINGS SEASON, BAYBEEE! We’ve got a meaty plate of all your favorite cold cuts: EA, Capcom, Sony, Nintendo, Square Enix, Take-Two, Capcom, Sega, Embracer Group, Starbreeze, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:28] - Sony Q3 FY22 Earnings
[00:06:22] - Nintendo Q3 FY23 Earnings
[00:15:12] - Square Enix Q3 FY23 Earnings
[00:17:14] - EA Q3 FY23 Earnings
[00:26:18] - Take-Two Q3 FY23 Earnings
[00:32:16] - Capcom Q3 FY23 Earnings
[00:35:29] - Sega Q3 FY23 Earnings
[00:36:17] - Embracer Group Q3 FY23 Earnings
[00:40:29] - Starbreeze Q4 FY22 Earnings
[00:44:04] - Investment Interlude
[00:52:18] - Quick Hits
[00:58:09] - Labor Report
[01:03:38] - NPD Report on US Video Game Spending for January 2023
[01:10:42] - Mike remembers there’s a listener question (oops!)

SOURCES

Sony FY2022 Q3 Earnings Announcement | Sony
Nintendo Q3 FY23 Earnings | Nintendo
Square Enix Q3 FY23 Earnings | Square Enix
Electronic Arts Reports Q3 FY23 Financial Results | EA
Take-Two Q3 FY23 Earnings | Take-Two
Capcom Q3 FY23 Earnings | Capcom
Sega Q3 FY23 Earnings | Sega Sammy
EMBRACER GROUP PUBLISHES INTERIM REPORT Q3 OCTOBER-DECEMBER 2022 | Embracer Group
Starbreeze Q4 FY2022 | Starbreeze
NCsoft West lays off 20% of staff | GamesIndustry
Tilting Point to cut 14% of its global staff | GamesIndustry
Microsoft Studio Behind Halo Faces a Reboot on Years of Turmoil | Bloomberg
Blizzard staffer alleges that Proletariat studio culture isn't progressive | GamesIndustry
Activision Blizzard planning to end full remote work | Game Developer

INVESTMENT INTERLUDE

KEYWORDS STUDIOS’ ENGAGE DIVISION POWERS UP ITS CREATIVE HOUSE OF BRANDS TO SERVE GLOBAL INTERACTIVE ENTERTAINMENT INDUSTRY | Keywords
Zordix Reorganizes Maximum Entertainment | Maximum Entertainment (@maximumentmt) on Twitter
Dauntless creator Phoenix Labs spins out of Sea/Garena | GamesBeat
Notice of possible remedies | CMA

View Details

Wizards of the Coast squandered goodwill to find itself right back where it started. Also: Earnings season has begun, the GDC State of the Industry report shows developers put the smackdown on Web3, NPD for December shows a bit of lift, and (as we grimly expected) we’re in the layoff bad times.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:17] - Learnings for the GDC State of the Industry Report
[00:26:42] - Wizards of the Coast Fizzles OGL Update
[00:30:05] - Microsoft Q2 FY23 Earnings
[00:41:33] - Investment Interlude
[00:45:38] - Quick Hits
[00:52:36] - Labor Report
[00:57:05] - NPD for December 2022

SOURCES

Earnings Release FY23 Q2 | Microsoft
Microsoft Corporation Form 8-K | United States SEC
Xbox's Phil Spencer Says Microsoft's 10K Layoffs 'Hurts' In Email To Staff | Kotaku
A Working Conversation About the Open Game License (OGL) | D&D Beyond
OGL 1.0a & Creative Commons | D&D Beyond
Unity lays off almost 300 staff | Eurogamer
Riot Games to lay off nearly 50 staff as part of "strategic shifts" | Game Developer
Hasbro lays off 15% of staff to cut costs | Eurogamer
Ex-Sega developer highlights lack of credit for translators | Eurogamer
Workers at World of Warcraft studio Proletariat withdraw union petition | Polygon

INVESTMENT INTERLUDE

Microsoft faces EU antitrust warning over Activision deal - sources | Reuters
Playtika tries to buy Rovio | GamesIndustry
SKYBOUND ENTERTAINMENT MAKES SUBSTANTIAL INVESTMENT IN MEGA CAT STUDIOS | Skybound

View Details

We’re back for Season 4! Good thing we’re not on HBO Max, amirite? The ghosts of Ubisoft’s failure to care for its employees are now haunting its financial performance. Also: Let’s talk about D&D and Hasbro’s huge, shortsighted missteps with the OGL, Epic has been slapped with a fine over Fortnite, Zenimax QA workers unionize, while Activision Blizzard moves to make things hard for workers at recently acquired Proletariat.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:34] - Dungeons & Dragons Rolls a Critical Miss
[00:23:13] - Ubisoft’s No Good, Very Bad Day
[00:34:48] - A Pair of Fortnite Stories
[00:48:47] - Investment Interlude
[01:05:02] - Quick Hits
[01:19:40] - Labor Report

SOURCES

Dungeons & Dragons’ New License Tightens Its Grip on Competition | Gizmodo
Let’s Take A Minute To Talk About D&D’s Open Gaming License (OGL) | Noah Downs on Medium
A Legal Perspective on the OGL | Chris Reid (@NYGameLawyer) on Twitter
Paizo Announces System-Neutral Open RPG License | Paizo
An Update on the Open Game License (OGL)
Canceled D&D Beyond Subscriptions Forced Hasbro's Hand | Gizmodo
UBISOFT STRENGTHENS STRATEGIC FOCUS… | Ubisoft
Ubisoft Delays Skull And Bones, Cancels More Games, And Announces New Cuts | Kotaku
Parents say game developer made ‘Fortnite’ as ‘addictive as possible’ | Washington Post
Epic Games Fined by FTC in Children’s ‘Fortnite’ Privacy Case | Bloomberg Law
Hasbro’s Wizards of the Coast Cancels Video Game Projects | Bloomberg (Paywall)
Playtika to lay off over 600 staff; studios at risk, three games canned | Mobilegamer.biz
Microsoft game makers unionize after vote passes by "supermajority" | Axios
Proletariat Workers Become Third Group of Activision Blizzard Workers to Form Union with Communications Workers of America | Communications Workers of America
EVERYONE DESERVES A VOTE | Proletariat

INVESTMENT INTERLUDE

MICROSOFT/ACTIVISION BLIZZARD PHASE 2 MERGER INQUIRY | UK Competition Markets Authority
UK regulator extends deadline for investigation into Microsoft's Activision Blizzard deal | Game Developer
Exclusive: Microsoft, Activision back off aggressive claim in FTC case | Axios
Microsoft Sued by Gamers Over $69 Billion Activision Deal (2) | Bloomberg Law
Google, Nvidia Express Concerns to FTC About Microsoft’s Activision Deal | Bloomberg (Paywall)
Yuga Labs Appoints Activision Blizzard President and COO Daniel Alegre as New CEO | Yuga Labs
Jagex Acquires SCUM Developer Gamepires | Jagex
NDREAMS ACQUIRES NEAR LIGHT | nDreams
SkyBox Labs is joining NetEase Games | NetEase
GEARBOX ENTERTAINMENT COMPANY ANNOUNCES ACQUISITION OF CAPTURED DIMENSIONS | Gearbox
ATARI: OPENING OF THE FRIENDLY TENDER OFFER FOR ATARI SHARES | Atari
MY.GAMES ANNOUNCES BUSINESS RESTRUCTURING AND DECISION TO CEASE OPERATIONS IN THE RUSSIAN MARKET | My.Games

View Details

It’s our season finale! GameStop has more than a little red on it, with losses continuing to mount on a crypto deal gone bust. Also: Microsoft makes nice with Nintendo (again) to pressure Sony, layoff continue to plague the industry, Zenimax QA workers on the path to unionization, and a fresh FAFO. Oh… and we have a tiny, little announcement.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

The views and opinions expressed on this podcast are ours and do not necessarily reflect the views or positions of our employer or the organizations with which we work.

TIME STAMPS

[00:00:30] - Some exciting news!
[00:05:44] - Gamestop Q3 FY2023 Earnings
[00:14:20] - NPD U.S. Video Game Spending Report for November 2022
[00:19:46] - Twitch’s new Shield Mode
[00:22:51] - Investment Interlude
[00:49:36] - Quick Hits
[00:54:19] - Labor Report
[01:14:26] - Listener Question
[01:16:01] - FAFO

SOURCES

GameStop Q3 FY2023 Earnings | GameStop
GameStop begins layoff | Axios
Protect Your Channel With Shield Mode | Twitch
Activision Blizzard QA Workers Call for End to Bug Quotas | ABK Workers Alliance (@ABetterABK) on Twitter
‘Diablo IV’ developers work long hours, bracing for impending release | Washington Post
Activision sues California agency that sued it over misconduct | Axios
Zenimax QA Workers Will Unionize | ZeniMax Workers United - CWA (@ZenimaxWorkers) on Twitter
“Massive” layoffs at Wildlife as it drops all non-mobile game projects | Mobilegamer
Just Cause Studio Employees Call for Change Amid Year-Long Battle Over Controversial Hire | IGN
DEI at Avalanche Studios Group | Avalanche Studios Group
Insider trading in FF development? Former Square Enix employees re-arrested | Asahi

INVESTMENT INTERLUDE

SONY INTERACTIVE ENTERTAINMENT OBSERVATIONS ON THE CMA’S ISSUES STATEMENT | UK Competition and Markets Authority
MICROSOFT’S RESPONSE TO THE CMA’S ISSUES STATEMENT | UK Competition and Markets Authority
FTC Seeks to Block Microsoft Corp.’s Acquisition of Activision Blizzard, Inc. | FTC
Microsoft Didn’t Lie to the EU on ZeniMax Deal Like the FTC Said, According to Sources
A Letter from CEO Bobby Kotick Regarding Activision Blizzard’s Merger with Microsoft | Activision Blizzard
Keywords acquires AI-driven player support platform for $75m | GamesIndustry
STARBREEZE STUDIOS EXPANDS WITH NEW STUDIO AND DEDICATED TEAM IN THE UNITED KINGDOM | Starbreeze
SPLASH DAMAGE ANNOUNCES TRANSFORMERS: REACTIVATE | Splash Damage

View Details

Brad Wildes, CEO of video game accessories maker PDP, joins us to discuss the company’s recent rebrand and the complicated process of reshaping your brand identity.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

Indie Megabooth founder and 1UP Ventures partner Kelly Wallick joins us to discuss how studios can access equity funding and what they should know before pitching.

In this conversation, we discuss the different types of funding, what different rounds of funding typically mean, and how venture capital works. If you’ve ever been curious about how studios (rather than games) get funded, this is the episode for you!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

A NetEase exec has pulled no punches after the Chinese giant’s Blizzard relationship hits the skids. Also: NPD spending report for October 2022, Embracer group earnings and reorganization, more on Microsoft’s plans to acquire Activision, new studio announcements, and more!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:26] - NPD US Video Game Spending Report for October 2022
[00:09:11] - Embracer Group Q2 FY 2023 Earnings
[00:21:09] - Investment Interlude (Now in Activision Jerk Flavor!)
[00:39:31] - Quick Hits
[00:54:58] - Labor Report

SOURCES

NPD Report on US Video Game Spending for October 2022 | Mat Piscatella (@MatPiscatella) on Twitter
EMBRACER GROUP PUBLISHES INTERIM REPORT Q2 | Embracer Group
Bethesda Responds to Mick Gordon Allegations | Bethesda (@Bethesda) on Twitter
Microsoft to Adopt New Sexual Harassment Policies After Gates, Misconduct Audit | Bloomberg (Paywall)

INVESTMENT INTERLUDE

The Banished Vault | Nic Tringali on Medium
European Commission responds as staff member says COD will stay on "my PlayStation" | Eurogamer
Microsoft’s Xbox chief settles the Call of Duty PlayStation debate once and for all | The Verge
Blizzard Entertainment and NetEase Suspending Game Services in China | Activision
In candid email, Blizzard head details suspension of game sales in China | Washington Post
BLIZZARD ENTERTAINMENT AND NETEASE SEVERING TIES | Niko Partners
Sweden’s Behold Ventures raises $25.9M to invest in Nordic gaming startups | GamesBeat
Senior Executive behind global beloved franchises, such as THE WALKING DEAD, THE BOYS, INVINCIBLE and many others, announces ASTRID ENTERTAINMENT | GamesPress
We Are Methodical | Methodical Games
Ex-Wargaming and Valve devs form Eschatology Entertainment, raise $4 million in funding | Game Developer
NetEase Executive Responds to Falling Out with Blizzard | Simon Zhu on LinkedIn

View Details

We’re SO close to the end of earnings season. This week: Square Enix, Nintendo, Take-Two, Unity (and a discussion about that brutal Bloomberg expose about CEO John Riccitiello). Also: Strange happenings at Studio ZA/UM, Remedy details Control 2 publishing deal, the EU gets prickly about Microsoft’s proposed Activision acquisition, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:03] - Square Enix Earnings
[00:11:00] - Nintendo Earnings
[00:18:41] - Take-Two Earnings
[00:26:22] - Unity Earnings and Discussion about Bloomberg Riccitiello Expose
[00:38:20] - Investment Interlude
[00:44:03] - Quick Hits
[00:46:56] - Labor Report (Activision, Kabam, Studio ZA/UM, iD Software)
[01:18:38] - Listener Question

SOURCES

Consolidated Financial Results for the Six-Month Period Ended September 30, 2022 | Square Enix
Consolidated Results for the Six Months Ended September 30, 2021 and 2022 | Nintendo
Notice of Establishment of Joint Venture Company with DeNA Co., Ltd. and added as a Specified Subsidiary | Nintendo
Take-Two Interactive Software, Inc. Reports Results for Fiscal Second Quarter 2023 | Take-Two
Unity Announces Third Quarter 2022 Financial Results | Unity
Unity and ironSource merge to simplify launching and growing great mobile games
One of Gaming’s Most Hated Execs Is Jumping Into the Metaverse | Bloomberg (Paywall)
Activision Blizzard files motion to impound Albany union vote ballots | Games Industry
Composer Sarah Schachner Exits ‘Call of Duty: Modern Warfare II’ Soundtrack Citing ‘Challenging Working Dynamic’ With Audio Director | Variety
November 2nd, 2022 Bargaining Session Update | Game Workers Alliance
TO FANS OF DISCO ELYSIUM, CONCERNING THE SITUATION AT ZA/UM | Robert Kurvitz and Aleksander Rostov on Medium
Gaming company Kabam lays off 7% of its workforce to better align with goals | TechCrunch
Disco Elysium studio ZA/UM confirms former employees were fired for misconduct | Games Industry

INVESTMENT INTERLUDE

Mergers: Commission opens in-depth investigation into the proposed acquisition of Activision Blizzard by Microsoft | European Commission
KRAFTON, INC. REPORTS Q3 2022 REVENUE OF 433.8 BILLION KRW ($320.4 MILLION) | Krafton
Remedy Entertainment signs a co-development and co-publishing agreement with 505 Games for Control 2 | Remedy

View Details

With Microsoft and Sony falling short on subscriptions, is our future still an all-you-can-eat buffet? Also: Earnings for Microsoft, Sony, Capcom, Paradox, Remedy, and Sega; Embracer shutters recently acquired and rebranded Studio Onoma, and Marvel Snaps up huge mobile revenue.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:] - Microsoft FY23 Q1 Earnings
[00:] - Sony FY23 Q2 Earnings
[00:] - Capcom FY23 Q2 Earnings
[00:] - Paradox FY22 Q3 Earnings
[00:] - Remedy FY22 Q3 Earnings
[00:] - Sega FY23 Q2 Earnings
[00:] - Electronic Arts FY23 Q2 Earnings
[00:] - Investment Interlude
[00:] - Quick Hits
[00:] - Labor Report

SOURCES

Microsoft Earnings Release FY23 Q1 | Microsoft
Microsoft's Xbox chief on the future of gaming | Tom Warren on YouTube
Microsoft promises to keep Call of Duty on PlayStation for as long as PlayStation exists | The Verge
Quarterly Financial Statements for the Second Quarter Ended September 30, 2022 | Sony
Capcom Consolidated financial results for the 2nd Quarter of FY2022 | Capcom
Interim report January – September 2022 | Paradox
Remedy’s Investments in Game Projects Continued, Burdening Profitability | Remedy
Consolidated Financial Results for the Six Months Ended September 30, 2022 | Sega
Electronic Arts Reports Q2 FY23 Financial Results | EA
Creative Assembly Statement on Allegations Against Former Employee | Creative Assembly (@CAGames) on Twitter
Creative Assembly vows investigation after 'deeply concerning and serious' allegations of workplace abuse | PC Gamer

INVESTMENT INTERLUDE

Game Developer Index 2022 | Swedish Games Industry
Spry Fox is joining Netflix!
Frontier Developments Acquires Complex Games Inc. | Frontier Developments

View Details

After two years, it seems like new-generation console supply is starting to meet demand. We discuss in our coverage of the September NPD report. Also: the latest Activision Blizzard shenanigans (including two big Ls for the publisher), more on the Bayonetta 3 story, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:06] - NPD US Video Game Spending Report for September 2022
[00:18:25] - Investment Interlude
[00:25:07] - Quick Hits
[00:27:48] - Labor Report

SOURCES

NPD US Video Game Spending Report for September 2022 | Mat Piscatella (@matpiscatella) on Twitter
Why G4 failed | Washington Post
Hellena Taylor Issues New Statement on Bayonetta 3 Allegations | Hellena Taylor (@hellenataylor) on Twitter
Blizzard Albany, formerly Vicarious Visions, gets union vote greenlight | Washington Post
CODE-CWA Announces Unfair Labor Practice Charges Against Activision Blizzard | CODE-CWA (@CODE_CWA) on Twitter
Court of Appeal Denies Request to Dismiss CRD’s Case Against Activision Blizzard | California Civil Rights Department

View Details

Bayonetta voice actor Hellena Taylor shared troubling allegations of her treatment during negotiations, but new reports suggest things aren't quite what they seem. We discuss voice acting rates and what the $4,000 offer means for SAG-AFTRA union members. Also: Microsoft and Sony continue their war in the UK over the Activision acquisition, more troubling layoffs for games media, and Meta acquires a trio of studios while announcing absurd pricing for its next headset.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:51] - Listener Question
[00:09:14] - Investment Interlude (CD Projekt, Riot, Microsoft / Activision)
[00:35:49] - Quick Hits
[00:49:47] - Labor Report (Activision Blizzard, Twitch, Bayonetta 3, and more)

SOURCES

Activision Blizzard facing another sexual harassment suit | GamesIndustry
Activision Blizzard Board Member Lulu Cheng Meservey Joins Executive Leadership Team | Activision Blizzard
Labor board says Activision withheld raises from union activists | Washington Post
Twitch responds to controversial revenue split, says 70/30 is "not viable in the long term" | Eurogamer
Why Amazon won’t foot the bill to pay Twitch streamers better | Washington Post
Twitchcon Recap | @astraharaa on Twitter
Microsoft lays off employees in Xbox, wargame simulation divisions | Washington Post
Take-Two is shutting down the developer behind the mobile hit 'Two Dots' | Engadget
Playtika closes Best Fiends maker Seriously after clash over studio direction | Mobile Gamer
Nintendo settles labor dispute with game tester over unions | Axios
Comcast Pulls Plug On G4 TV, Ending Comeback Try For Gamer-Focused Network | Deadline
The Other Side of the Bayonetta Voice Actor Switch | Hellena Taylor (@hellenataylor) on Twitter
SAG-AFTRA Interactive Media Agreement Wage Table | SAG-AFTRA
A Tense Pay Dispute Overshadows Nintendo’s Upcoming Bayonetta 3 | Bloomberg (Paywall)

INVESTMENT INTERLUDE

A message from Marcin Iwiński ― co-founder and Joint CEO of CD PROJEKT. | CDProjekt (@CDProjekt) on Twitter
GAMES AT CONNECT 2022: ‘MARVEL’S IRON MAN VR,’ XBOX CLOUD GAMING, AN ‘AMONG US VR’ RELEASE DATE, AND MORE | Meta
Riot games acquires Wargaming Sydney Studio | GamesIndustry
Brazil approves Microsoft/Activision acquisition | Tom Warren (@tomwarren) on Twitter
More detail on Brazil's Microsoft/Activision decision | Antitrust Lawyer "Idas" on Resetera
Microsoft has offered a glimpse at how much Xbox Game Pass actually makes | Windows Central
Full Text of UK CMA Decision (Phase 1) on Microsoft's Acquisition of Activision | UK CMA
Microsoft’s Views on the CMA’s Full Text Phase 1 Decision | Ars Technica
PlayStation eyes new investment for PC, mobile push | Reuters
PlayStation to broaden line-up, but won’t abandon roots, studio chief says | Axios

View Details

E3 lives, Stadia dies, and Twitch continues to make bad moves that alienate its community. Also: Saudi Arabia and Tencent look to step up investments, and a beefy labor report.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:21] - Twitch Has a Child Predator Problem (That it Tried to Cover Up with Different Bad News)
[00:28:39] - Investment Interlude (Netflix, Saudi Arabia, Tencent, Fandom)
[00:44:10] - Quick Hits
[00:50:56] - Labor Report (Activision and OSHA, Respawn, Nintendo Tester Speaks Out, Studio ZA/UM)
[01:05:41] - E3 Lives!
[01:12:04] - FAFO Award

SOURCES

Child Predators Use Twitch to Systematically Track Kids | Bloomberg (Paywall)
A Letter from Twitch President Dan Clancy on Subscription Revenue Shares | Twitch
Twitch loses VP after revenue split controversy | Eurogamer
Respawn Speaks Out in Defense of Harassed Developers | Respawn (@Respawn) on Twitter
Activision QA worker warns OSHA about the devastating impact of crunch | Polygon
THE DISSOLUTION OF THE ZA/UM CULTURAL ASSOCIATION | Martin Luiga on Medium
Exclusive: Fired Nintendo worker speaks out, alleging union-busting | Axios
A message about Stadia and our long term streaming strategy | Google

INVESTMENT INTERLUDE

Building Our Internal Games Studios | Netflix
HRH Crown Prince announces Savvy Games Group strategy | Saudi Press Agency
Tencent shifts focus to majority deals, overseas gaming assets for growth | Reuters
Fandom Acquires Leading Entertainment & Gaming Brands Including GameSpot, TV Guide and Metacritic | Fandom

View Details

Ubisoft leadership has all but given up on fixing the company’s culture as Tencent increases its ownership stake. Also: NPD for August 2022, GameStop bleeds, 343 loses its leader, and Microsoft and Sony continue to butt heads in the UK over Activision acquisition.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:39] - GameStop Earnings
[00:15:31] - NPD for August 2022
[00:26:12] - Investment Interlude
[00:45:33] - Quick Hits
[00:58:44] - Labor Report
[01:30:21] - The GTA6 Hack
[01:41:43] - FAFO Award

SOURCES

GameStop Reports Second Quarter Fiscal Year 2022 Results | GameStop
GameStop Rewards Employees For Sticking Around With 50-Cent Raise | Kotaku
NPD for August 2022 | Mat Piscatella (@MatPiscatella) on Twitter
Interview: Ubisoft CEO on company’s scandals and attempts to reform | Axios
ABetterUbisoft members discuss state of company ahead of Ubisoft Forward | Eurogamer
Electronic Arts Form 8-K | SEC
Exclusive: Sea Ltd shuts operations in some Latin American countries, cuts Free Fire staff in Shanghai | Reuters
G4TV reportedly lays of up to 30 staff less than a year after relaunch | GamesIndustry
Rockstar Acknowledges Massive GTA6 Asset Theft | Rockstar Games (@RockstarGames) on Twitter

INVESTMENT INTERLUDE

AppLovin abandons effort to acquire Unity after $20 billion bid was rejected | CNBC
Unity Pro and Unity Enterprise plans: New pricing coming soon | Unity
FOCUS ENTERTAINMENT announces the acquisition of Dutch studio WW1 Game Series B.V. | Focus Entertainment
Ex-Gearbox and Riot devs raise $5.5M for Ruckus game studio | GamesBeat
Tencent takes minority stake in Mordhau studio Triternion | GamesIndustry
CMA recommends second phase of Microsoft Activision investigation | GamesIndustry
Gaming for everyone, everywhere: our view on the Activision Blizzard acquisition | Xbox Wire

View Details

A drama-filled Friday saw the huge news of a major acquisition… followed by a debunking and walkback that we’ll be talking about for some time. Also: Sony jacks the price of PS5, Chinese giants make investments in Quantic Dream and FromSoftware, and a discussion on how M&A is impacting smaller publishers.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:16] - PS5 Price Increase
[00:07:43] - Investment Interlude
[00:29:43] - Quick Hits
[00:40:37] - Labor Report (GameStop, Rogue Games)
[00:44:30] - Amazon, EA, and the importance of care when reporting on business

SOURCES

PS5 price to increase in select markets due to global economic environment, including high inflation rates | Sony
Warner Bros. gaming division is on a well-timed hot streak | Axios
GameStop Increasing Store Staff Wages | Stephen Totilo (@StephenTotilo) on Twitter
Rumor: Amazon set to buy Electronic Arts | USA Today
CNBC Debunks Amazon / EA Acquisition Rumor | CNBC (@CNBCNow) on Twitter

INVESTMENT INTERLUDE

EMBRACER GROUP COMPLETES ACQUISITION OF CRYSTAL DYNAMICS, EIDOS-MONTRÉAL, SQUARE ENIX MONTRÉAL AMONGST OTHER ASSETS | Embracer Group
Saudi Arabia voices "no objection" to Microsoft's Activision Blizzard acquisition | GameDeveloper
Welcoming Savage Game Studios + Expanding Our Community | PlayStation Blog
Notice Concerning Consolidated Subsidiary’s Capital Increase through Third-party Allotment of Shares | Kadokawa
NetEase Acquires Leading French Game Developer & Publisher Quantic Dream | PR Newswire
Bandai Namco: M&As are "affecting some of the smaller publishers in their capacity to access the best studios” | GamesIndustry

View Details

Embracer Group’s latest spending spree nets them one of the world’s most recognizable IPs (and much more). Also: Unity slumps amid hostile takeover, Take-Two posts losses on Zynga acquisition, Nintendo is in the hot seat again, Activision commits to the union-busting bit, and NPD for July 2022 as spending continues its slide back to pre-pandemic levels.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:42] - Unity Q2 FY22 Earnings
[00:14:54] - Take-Two Q1 FY23 Earnings
[00:27:21] - Thunderful Group H1 FY22 Earnings
[00:32:51] - Remedy H1 FY22 Earnings
[00:35:21] - Embracer Group Q1 FY23 Earnings
[00:42:03] - Investment Interlude (Embracer Group Spending Spree)
[01:00:53] - Quick Hits
[01:07:51] - Labor Report (Nintendo, Activision)
[01:11:38] - NPD for July 2022

SOURCES

Unity Announces Second Quarter 2022 Financial Results | Unity
Unity sets up joint venture in China | GamesIndustry
AppLovin offers to buy video game software maker Unity in $17.5 bln deal | Reuters
First Quarter Fiscal 2023 Results & Guidance Summary | Take-Two
Thunderful Group Interim Report January–June 2022 | Thunderful
Brjann Sigurgeirsson leaves the position as CEO of Thunderful Group | Thunderful
Half-Year Report | Remedy
EMBRACER GROUP PUBLISHES INTERIM REPORT Q1, APRIL-JUNE 2022 | Embracer Group
EMBRACER GROUP ANNOUNCES THE 11[TH] OPERATING GROUP: EMBRACER FREEMODE | Embracer Group
Second labor complaint filed against Nintendo | Axios
Aston Carter and Nintendo of America as Joint Employers | NLRB
Nintendo Of America's Testers Say They Faced Years Of Sexual Harassment | Kotaku
Activision Blizzard is using ‘Diablo IV’ to argue against unions | Washington Post
Activision Blizzard accused of trying to stop workers communicating about pay and working conditions | Fortune (Paywall)
NPD for July 2022 | Mat Piscatella (@MatPiscatella) on Twitter

INVESTMENT INTERLUDE

EMBRACER GROUP ENTERS INTO AN AGREEMENT TO ACQUIRE LIMITED RUN GAMES | Embracer Group
EMBRACER GROUP ENTERS INTO AN AGREEMENT TO ACQUIRE SINGTRIX | Embracer Group
EMBRACER GROUP ACQUIRES TUXEDO LABS | Embracer Group
EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE TRIPWIRE INTERACTIVE | Embracer Group
EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE IP RIGHTS TO THE LORD OF THE RINGS AND THE HOBBIT LITERARY WORKS BY J.R.R TOLKIEN | Embracer Group
Spin Master Expands Digital Games Ecosystem with Acquisition of Nørdlight | Spin Master
[From the industry] SOEDESCO acquires Superlumen development studio | MCV/Develop

View Details

Call of Duty is in a slump, and Activision is waiting out the clock until the acquisition having reportedly canceled a long in-development mobile World of Warcraft game. Also: Earnings, GameStop’s terrible NFT marketplace, Square Enix’s bananas comments about its former Western teams, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:06] - Activision Q2 FY22 Earnings and News
[00:19:59] - Paradox Q2 FY22 Earnings
[00:23:08] - EA Q1 FY23 Earnings
[00:27:54] - Investment Interlude
[00:35:34] - Quick Hits
[00:39:47] - Nintendo Q1 FY23 Earnings
[00:44:52] - Square Enix Q1 FY23 Earnings
[00:54:26] - Sega Q1 FY23 Earnings
[00:59:24] - Labor Report
[01:07:10] - GameStop’s Mismanagement of its NFT Marketplace

SOURCES

Activision Q2 FY2022 Earnings | Activision
Blizzard, NetEase Scrap Warcraft Mobile Game After Financing Dispute | Bloomberg (Paywall)
Paradox Q2 FY2022 Earnings | Paradox
Electronic Arts Reports Q1 FY23 Financial Results | EA
Consolidated Results for the Three Months Ended June 30, 2021 and 2022 | Nintendo
Financial Results Briefing - Three‐Month Period Ended June 30, 2022 | Square Enix
Consolidated Financial Results for the Three Months Ended June 30, 2022 | Sega
Court ruling reveals more details about death threats against Destiny 2 developers | PC Gamer
Activision Will Not Voluntarily Recognize Blizzard Albany Union | We Are GWA Albany (@WeAreGWAAlbany) on Twitter
Jam City lays off staff as part of ‘restructuring’ | GamesBeat

INVESTMENT INTERLUDE

Acquisition of Mighty Games and the completion of the acquisition of Forgotten Empires | Keywords Studios
Tencent seeks bigger stake in 'Assassin's Creed' maker Ubisoft - sources | Reuters

View Details

Minecraft is taking a hard line against those who would abuse the game with crypto and blockchain schemes. Also: Earnings season begins with Capcom, Microsoft, and Sony, ABK workers walkout again, Rockstar on the mend, and Meta jacks the price of the Quest 2 by $100.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:17] - Capcom Earnings
[00:10:38] - Microsoft Earnings
[00:16:55] - Sony Earnings
[00:22:22] - Investment Interlude
[00:33:22] - Quick Hits
[00:39:08] - Labor Report (Activision, Ubisoft, Riot, Rockstar, Tender Claws, Card Kingdom)
[00:53:29] - Meta Raises the Price of Quest 2

SOURCES

Capcom Q1 FY 2022-23 | Capcom
Earnings Release FY22 Q4 | Microsoft
Q1 FY2022 Consolidated Financial Results | Sony
A Better ABK Walkout Demands | ABetterABK (@ABetterABK) on Twitter
Activision Blizzard workers walk out, protesting loss of abortion rights | Washington Post
Court gives green light to Riot Games $100 million settlement | Axios
Indie company Tender Claws is the next game studio to unionize | Polygon
Rockstar Games Cleaned Up Its Frat-Boy Culture — and Grand Theft Auto, Too | Bloomberg (Paywall)
One Year Later, Ubisoft has Met No Demands Made by A Better Ubisoft | A Better Ubisoft (@ABetterUbisoft) on Twitter
META QUEST 2 PRICING CHANGES | Meta

INVESTMENT INTERLUDE

Wizards of the Coast Announces New Studio - Skeleton Key | Wizards of the Coast
CEO Buys 3BlackDot, Making It One of the Few Black-Owned Media Companies | WSJ (Paywall)
Square Enix's Western studios were a "train wreck in slow motion" | GamesIndustry.biz

View Details

We talk a lot about diversity, equity, and inclusion on this show. Manda sat down with Code Coven’s founder, Tara Mustapha, and marketing coordinator, Myleah Lofland, earlier this year to discuss how Code Coven is changing the industry for the better by helping to foster and develop the talent that will lead gaming to its fullest potential. Code Coven is definitely going to take over the world.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

GameStop and Unity are making ugly moves, drawing the ire of consumers and developers. Also: E3 returns as the ESA gives up on being an event organizer, a surprisingly meaty list of new investments, NPD for June 2022, another Activision studio moves to unionize, and a double FAFO!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:10] - The Return of E3
[00:14:59] - NPD for June 2022
[00:24:37] - Investment Interlude
[00:45:56] - Quick Hits
[01:06:36] - Labor Report (Nintendo, esports media, GameStop, and a new Activision union)
[01:19:03] - Double FAFO (Bungie sues harasser, Developer smacks down NFT and Crypto shills)

SOURCES

NPD for June 2022 | Mat Piscatella (@matpiscatella) on Twitter
Nintendo Labor Suit Amended | Nicole Carpenter (@sweetpotatoes) on Twitter
‘Our entire industry is dying’: In esports media, layoff season is in full swing | Digiday
GameStop Form 8-K, June 9, 2021 | US SEC
GameStop Form 8-K, July 7, 2021 | US SEC
GameStop CFO out as company announces layoffs | Axios
Blizzard Albany QA Moves to Unionize | GWA Albany (@WeAreGWAAlbany) on Twitter
Bungie Sues Destiny 2 Streamer For Repeatedly Cheating And Harassing Its Employees | TheGamePost
Developer turns 'future of gaming' talk into a surprise attack on convention's NFT and blockchain sponsors | PCGamer
Game Developers of Color Expo - Speaker List

INVESTMENT INTERLUDE

Unity Announces Merger Agreement with ironSource | BusinessWire
Welcome, ironSource! | Unity
Nekcom raises $8m, opens new US studio | GamesIndustry.biz
NetEase Invests in Polish VR Startup | Piotr Goguś on LinkedIn
FaZe Clan, a Leading Gaming, Lifestyle and Media Brand, Completes Business Combination with B. Riley Principal 150 Merger Corp. | BusinessWire
Sony has closed its $3.6B acquisition of Bungie | PlayStation (@PlayStation) on Twitter
Sony has completed its acquisition of Haven Studios | PlayStation (@PlayStation) on Twitter
Repeat to be acquired by Sony Interactive Entertainment | Repeat
Spotify To Acquire Music Trivia Sensation Heardle | Spotify
Microsoft / Activision Blizzard merger inquiry | UK Competitions and Markets Authority
Notification of the Acquisition of Dynamo Pictures, Inc. | Nintendo
Nordisk Games acquires Supermassive Games, award-winning creators of The Quarry and The Dark Pictures Anthology | Supermassive

View Details

The Video Game Industry Celebrated Pride with a Bear Market (News Show): The pandemic boon is quickly becoming a memory as inflation, rising prices, and a thin release slate put pressure on developers and publishers. Also: Activision workers list demands for workplace safety, the Communications Workers of America back Microsoft’s Activision acquisition, and Québec may be set to quash its local game scene.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:16] - Microsoft Matches Epic Games Store Revenue Share on PC
[00:11:08] - A Brief Conversation About Inflation, the Cost of Debt, and How the Video Game Industry is being affected
[00:18:04] - Investment Interlude
[00:29:27] - Quick Hits
[00:31:08] - Labor (Activision Workers List Demands, The CWA backs Microsoft’s Activision Acquisition, Quebec Government Puts Squeeze on Video Game Studios, Layoffs)

SOURCES

Microsoft shakes up PC gaming by reducing Windows store cut to just 12 percent | The Verge
Delayed Steam pre-order hit The Day Before developer defends use of unpaid volunteers | Eurogamer
Sex and Gender Discrimination at Activision | ABK Watch
Major Workers’ Union Backs Microsoft’s Activision Blizzard Deal in FTC Letter | The Hollywood Reporter
Québec video game industry will be impacted by controversial language law | Eurogamer
Unity is reportedly laying off hundreds of employees | Game Developer
Niantic is laying off about 90 employees and canceling four projects | Engadget
Adjust And AppLovin Lay Off 12% Of Their Workforce Amid Economic Downturn | Ad Exchanger

INVESTMENT INTERLUDE

Scoop: Joffre Capital to buy majority stake in gaming company Playtika | Axios
Playtika gets new $8.7b. majority stakeholder | The Jerusalem Post
Blizzard Entertainment Acquires Boston-Based Studio Proletariat to Expand Development Pipeline for World of Warcraft | Blizzard
WILDLIFE STUDIOS ESTABLISHES ITS FIFTH STUDIO, MOON TAVERN GAMES… | Games Press
Omeda Studios raises $20m for Predecessor | GamesIndustry

View Details

There was a lot to learn from the 2022 Keigh3 / Not-E3 / Game Mess showcases, and we’ve got beefy trend analysis for you! Also: NPD for May 2022, Microsoft takes more union-positive steps, EA and Ubisoft slash executive compensation, Activision shareholders do lots wrong (but one thing right), and a double FAFO!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:50] - Summer Game Showcase Breakdown and Analysis
[00:56:01] - Investment Interlude
[00:58:26] - Quick Hits
[01:13:24] - Labor Report (Microsoft Labor Neutrality, Activision, EA)
[01:25:38] - NPD US Video Game Spending Report for May 2022
[01:35:00] - Double FAFO All Across the Sky (Yeah… yeaaaah…)

SOURCES

CWA, Microsoft Announce Labor Neutrality Agreement | CWA
Activision Blizzard - Schedule 14A | SEC
Activision Blizzard shareholders vote for public harassment report | Washington Post
Electronic Arts - Schedule 14A | SEC
NPD for May 2022 | Mat Piscatella (@MatPiscatella) on Twitter
$13.5M settlement puts the cost of one Destiny 2 cheater at $2,000 | PCGamer
Bungie slaps YouTube takedown impersonator with $7.6M lawsuit | PCGamer

View Details

GameStop revenues are up, but other indicators are looking ugly. Also, Microsoft takes steps toward supporting unions, Xbox cloud gaming evolves, EA tries to repair Pride damage and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:29] - GameStop Earnings
[00:06:35] - Investment Interlude
[00:10:15] - Quick Hits
[00:14:13] - Labor Report
[00:23:41] - The Xbox Showcase Pre-Briefing

SOURCES

GameStop Reports First Quarter Fiscal Year 2022 Results | GameStop
Israeli mobile games co Playtika to lay off 250 | Globes
Our support is unwavering for our people, our players, and our LGBTQ+ communities | EA
Microsoft adopts principles for employee organizing and engagement with labor organizations | Microsoft
Activision Retaliated Against Staff, Union Complaint Claims | Bloomberg
BioWare contractors in Canada vote unanimously to form union | Polygon
Xbox is Building the Gaming Platform for the Next 20 Years | Xbox Wire

INVESTMENT INTERLUDE

EMBRACER GROUP TO CARRY OUT A DIRECTED SHARE ISSUE OF B SHARES RAISING PROCEEDS OF APPROXIMATELY SEK 10.3 BILLION | Embracer Group

View Details

This episode is a bit of all of your faves. We have some interesting earnings stuff to discuss (Embracer Group, EG7, Thunderful, and CD Projket), the labor report is getting saucy, and we get to talk about funding for indies!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:41] - Embracer Group Earnings
[00:15:12] - EG7 Earnings
[00:20:32] - Thunderful Group Earnings
[00:24:49] - CD Projekt Earnings
[00:26:55] - Investment Interlude
[00:31:50] - Quick Hits
[00:36:46] - Labor Report
[00:47:33] - Sony Discusses the Future of PlayStation

SOURCES

EMBRACER GROUP PUBLISHES FULL YEAR REPORT | Embracer Group
WE ARE BUILDING AN ARCHIVE TO EMBRACE THE HISTORY OF GAMES | Embracer Group
Interim Report for the Period January 1, 2022 to March 31, 2022 | EG7
Thunderful Group Interim Report January–March 2022 | Thunderful
Consolidated Financial Statement of CD Projekt Capital Group for Q1 2022 | CD Projekt
Former Activision Blizzard employee appeals $18 million harassment settlement | Engadget
Activision Blizzard worker committee demands anti-discrimination reform | Washington Post
Activision wrongful death lawsuit dropped | Axios
EA Tells Devs It Won't Take Stand On Abortion Rights, Encourages 'Healing Circles' | Kotaku
Cursed Mafia III Studio Hangar 13 Hit With New Round Of Layoffs After Canceled Projects | Kotaku

INVESTMENT INTERLUDE

Wonderful games we are supporting… | Bright Gambit
Niantic Welcomes SpotX Games, A Miami-based Startup Creating Fun AR Games Using Web3 Technology | Niantic
Trailmix + Supercell = ❤ | Trailmix

View Details

There’s a right way to respond to a civil liberties crisis. PlayStation boss Jim Ryan went a different way. Also: NPD for April 2022, Raven workers vote to unionize as Activision Blizzard draws the NLRB’s ire, Sony discrimination lawsuit is back in play, developers revive anticompetition suit against Valve, Saudi Arabia takes a bite of Nintendo, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:42] - The Attack in Buffalo and How the Game Industry Played a Role
[00:11:00] - Steam Antitrust Suits Revived
[00:16:07] - NPD for April 2022
[00:24:40] - Investment Interlude
[00:37:41] - Quick Hits
[00:53:44] - Labor Report (Activision, Keywords Studiso, Sony’s Non-Stance on Abortion Rights and the Labor Lawsuit, GameStop’s Alleged Misclassification of Workers in NY)
[01:18:54] - Listener Questions
[01:27:30] - FAFO Award

SOURCES

How Twitch took down Buffalo shooter’s stream in under two minutes | Washington Post
BUNGIE STATEMENT ON THE TERRORIST ATTACK IN BUFFALO, NY | Bungie
Steam's U.S. antitrust lawsuits fail to get dismissed - now what? | Game Developer (Simon Carless)
NPD for April 2022 | Mat Piscatella (@MatPiscatella) on Twitter
Raven Software prepares for union vote following months-long campaign | Washington Post
Activision Asks Court to Toss California State Harassment Claims | Bloomberg Law
KING’S DIVERSITY SPACE TOOL | Activision Blizzard
BioWare contractors trying to unionize will no longer be forced to return to the office | The Verge
Sony PlayStation Staff Fume Over CEO’s Abortion Comments | Bloomberg (Paywall)
After Roe v. Wade cat email gaffe, Sony and Insomniac plan donations | Washington Post
Gender discrimination lawsuit against PlayStation returns | Axios
GameStop worker sues over alleged labor law violation | Polygon

INVESTMENT INTERLUDE

Behaviour Interactive acquires Seattle’s Midwinter Entertainment | Behaviour Interactive
GAMES FUND ONE: Building the Future of Games | a16z
Saudi investment fund buys 5 percent stake in Nintendo | Game Developer
Can I Play That? x DAGERSystem — May 2022 Update | Can I Play That?

View Details

As the video game industry matures, it's important that we preserve our history to understand where we've been and where we're going. In this conversation with two preservation-minded organizations, we welcome Josh Fairhurst and Joe Modzeleski from Limited Run Games, as well as Jonas Rosland, the Executive Director of video game preservation non-profit, Hit Save. The conversation covers the work both groups are doing in the name of preservation and the tools they are using to save our history.

Hit Save will be raising money for its preservation efforts on Sunday, May 22, 2022 on its Twitch Channel: Twitch.tv/HitSaveOrg from 9 AM until 1 AM Eastern.

View Details

No really. They’ve sold 165 million copies. Do you really need more? It’s a busy earnings show, but we coast through it smooth as Strauss Zelnick’s haircut. On this episode: Zynga, Nintendo, Sony, EA, Roblox, Bandai Namco, Starbreeze, Remedy, Capcom, Unity, Sega, Square Enix, and Take-Two.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:46] - Zynga
[00:08:58] - Nintendo
[00:26:01] - Sony
[00:38:30] - EA
[00:52:02] - Roblox
[00:57:43] - Financial Quick Hits (Bandai Namco, Starbreeze, Remedy)
[01:06:53] - Capcom
[01:10:48] - Unity
[01:15:28] - Sega
[01:19:27] - Square Enix
[01:26:24] - Take-Two

SOURCES

Zynga Announces First Quarter 2022 Financial Results | Zynga
Nintendo Consolidated Results for the Years Ended March 31, 2021 and 2022 | Nintendo
Sony FY2021 Earnings Announcement | Sony
Q4 FY22 Earnings Release | EA
ROBLOX REPORTS FIRST QUARTER 2022 FINANCIAL RESULTS | Roblox
Consolidated Financial Report for the Fiscal Year Ended March 31, 2022 | Bandai Namco
Interim Report Q1 | Starbreeze
Steady progress across the game roadmap | Remedy
Consolidated Financial Results for the year ended March 31, 2022 | Capcom
Unity Announces First Quarter 2022 Financial Results | Unity
Fiscal Year Ended March 22 Results Presentation | Sega Sammy
Financial Results Briefing Session | Square Enix
Take-Two Interactive Software, Inc. Reports Strong Results for Fiscal Year 2022 | Take-Two

View Details

The game industry loves to trot out its support for Women’s History Month, but most companies are avoiding standing up for abortion rights. It’s time for developers and publishers to take a stand. Also: Paradox earnings, Fortnite is back on iOS and Android (thanks to Microsoft), the war for Turtle Beach, NYC sues Activision, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:05:59] - Microsoft and Epic Make a Mobile Fortnite End-Run
[00:08:55] - Paradox Earnings
[00:18:24] - Investment Interlude
[00:47:15] - Quick Hits
[00:57:54] - Labor Report (The Industry’s Silence on Abortion Rights, NYC Sues Activision)

SOURCES

Play Fortnite on iOS, iPadOS, Android Phones and Tablets, and Windows PC with Xbox Cloud Gaming for Free | Xbox Wire
Interim report January – March 2022 | Paradox
BUNGIE SUPPORTS ESSENTIAL HEALTHCARE RIGHTS | Bungie

INVESTMENT INTERLUDE

Ubisoft gains on report founding family considering partnering with PE for takeout | Seeking Alpha
Turtle Beach told shareholders it is exploring a sales process | Reuters
NetEase Games Launches First Studio in the U.S. | PR Newswire
NACON ANNOUNCES A NEW LABEL: NACON STUDIO MILAN | GamesPress
WPP and Epic Games partner to accelerate innovation for clients in the metaverse | WPP
New York City sues Activision, targeting CEO Bobby Kotick | Axios

View Details

Square Enix bids farewell to its western CEO and studios, but Embracer is ready to hug ‘em tight. Also: Sony makes the new PS+ even more confusing, Activision shareholders sign-off on acquisition, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:52] - Microsoft Q3 FY22 Earnings
[00:10:58] - Sony Makes Life Harder for Devs and PlayStation Plus Subscribers
[00:31:08] - Investment Interlude, Including Square Enix / Embracer Discussion
[01:10:04] - Quick Hits
[01:10:54] - Labor Report

SOURCES

Microsoft Cloud Strength Fuels Third Quarter Results | Microsoft
Timed game trials are now a requirement for some PlayStation developers | GameDeveloper
Introducing the all-new PlayStation Plus | PlayStation
BioWare Contractors Supporting On Games Like Mass Effect Seek To Unionize | Kotaku
Dragon Age 4 QA Devs Say They're Unionizing Over Bad Pay And Covid Safety | Kotaku
Former Blizzard Versailles employees win appeal over redundancies that led to studio closure | GamesIndustry

INVESTMENT INTERLUDE

Execution of Share Transfer Agreement with Change to Subsidiaries | Square Enix
EMBRACER GROUP ENTERS INTO AN AGREEMENT TO ACQUIRE EIDOS, CRYSTAL DYNAMICS, AND SQUARE ENIX MONTRÉAL AMONGST OTHER ASSETS | Embracer Group
Canada’s largest independent video game studio, Behaviour Interactive, opens first studio in Toronto | GamesPress
Activision Blizzard shareholders weigh Microsoft, "dubious windfall" | Axios
Activision Blizzard Stockholders Approve Proposed Microsoft Transaction | Activision Blizzard

View Details

QA workers at Activision-owned Raven Software have been given the go-ahead from the NLRB to unionize. Also: Hardware supply continues to be challenging according to latest NPD report, Nintendo is facing its own labor issues, and Sony scores a partial victory in court.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:46] - NPD for March 2022
[00:27:35] - Investment Interlude
[00:31:02] - Quick Hits
[00:38:44] - Labor Report

SOURCES

NPD Report on US Video Game Spending for March 2022 | Mat Piscatella (@MatPiscatella) on Twitter
Nintendo hit with labor complaint | Axios
Aston Carter - Nintendo of America | NLRB
Judge says gender discrimination suit against PlayStation is light on facts | Axios
Activision Gets Investor Suit Over Sex Harassment Probes Tossed | Bloomberg Law
Meta’s Sheryl Sandberg Pressured Daily Mail to Drop Bobby Kotick Reporting | Wall Street Journal (Paywall)
Game Workers Alliance Announces NLRB Victory | Game Workers Alliance (@WeAreGWA) on Twitter
NLRB ruling gives green light to Raven Software union vote | Washington Post

INVESTMENT INTERLUDE

Gearbox to acquire Tiny Tina co-developer Lost Boys Interactive | GamesIndustry
Introducing Spellcraft (oh, and we raised some more funding) | One More Game
ProbablyMonsters Raises $200M in Largest Series A Round for Videogame Development | Probably Monsters
Epic Games invests in 3D scanning company M-XR | Game Developer

View Details

It’s a rapid-fire episode, filled with nerdy chats about pen-and-paper RPGs, which $1-$2B company Jack Tretton is going to eat in a “SPACquisition”, and Gov. Gavin Newsom selling out workers for Activision.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:47] - Investment Interlude
[00:24:38] - Quick Hits
[00:26:49] - Labor Report

SOURCES

Riot Games Tells Workers to Return to Office Without Vaccines or Masks | Vice
Activision Blizzard Converts All QA Contractors to Full-Time | CharlieIntel (@CharlieINTEL) on Twitter
Activision Blizzard Appoints Kristen Hines as Chief Diversity, Equity, and Inclusion Officer | Activision Blizzard
Bargaining in good faith with employees' union representative (Section 8(d) & 8(a)(5)) | NLRB
California Lawyer Quits Over Allegation Newsom Meddled in Activision Case | Bloomberg (Paywall)

INVESTMENT INTERLUDE

Hasbro to Acquire D&D Beyond from Fandom | BusinessWire
Sony and KIRKBI Invest in Epic Games to Build the Future of Digital Entertainment | Epic Games
The LEGO Group and Epic Games Team Up to Build a Place for Kids to Play in the Metaverse | Epic Games
Epic Games Invests in Brazilian Studio AQUIRIS | Aquiris
Saudi Prince Mohammed bin Salman has now acquired almost all of SNK | VGC
IRI and NPD to Merge and Create a Leading Global Technology, Analytics and Data Provider | IRI
Microsoft-Activision Review to Include Impact on Consumer Data, Game Developers | The Information (Paywall)
California Lawyer Quits Over Allegation Newsom Meddled in Activision Case | Bloomberg (Paywall)

View Details

Chelsea Blasko returns to Virtual Economy to discuss Iron Galaxy’s expansion into Tennessee and the studio’s ongoing commitment to a healthy workplace.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

In our first of three bonus episodes from GDC 2022, we’re joined by Odin Law’s Brandon Huffman and DLA Piper’s Ryan Black and Tyson Gratton to discuss labor issues, acquisitions, and the massive legal issues with the “play-to-earn” concept pushed by blockchain and NFT enthusiasts.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

We’re back from GDC and we have a lot to discuss. This week: PlayStation Plus gets a makeover, Bobby Kotick’s buddies accused of insider trading, indie studio bad behavior in the spotlight, and Sony’s own labor issues mount as more women come forward.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:19] - GDC 2022 Recap
[00:27:20] - GameStop Earnings
[00:42:00] - Investment Interlude
[00:56:44] - Quick Hits
[01:08:27] - Labor Report (Activision, Undead Labs, Sony, Moon Studios, PMG Report)
[01:31:43] - The New PlayStation Plus

SOURCES

GameStop Reports Fourth Quarter and Fiscal Year 2021 Results | GameStop
Activision Blizzard officially settles federal sexual harassment suit for $18 million | Washington Post
Activision Blizzard disinvited from speaking at SXSW due to misconduct allegations | Washington Post
Activision Faces New Suit From Worker Alleging ‘Rampant Sexism’ | Bloomberg Law
Four U.S. Senators Cite Microsoft-Activision Deal Concern in FTC Letter | WSJ (Paywall)
Allegations Of Sexism, Bullying, And Burnout: Inside The Microsoft Studio Behind State Of Decay 3 | Kotaku
Eight more women allege sexism at PlayStation, intensifying lawsuit | Axios
Despite its beautiful Ori games, Moon Studios is called an ‘oppressive’ place to work | GamesBeat
Investigating Three Indie Superstars Accused of Emotional Abuse | People Make Games
All-new PlayStation Plus launches in June with 700+ games and more value than ever | PlayStation Blog

INVESTMENT INTERLUDE

Welcoming Haven Studios to the PlayStation Studios family | PlayStation Blog
Game Developer Boss Fight Entertainment Joins Netflix | Netflix
Roberto Barrera Announces New Role at Netflix | LinkedIn
TEQUILA WORKS WELCOMES TENCENT AS A MAJORITY INVESTOR | Tequila Works
Welcoming WebAR Development Platform 8th Wall To Niantic | Niantic
Saudi Arabia’s PIF ups invest in NCSoft for second largest ownership, shares rally | Pulse
Scopely partners with game development team Burlingame Studios, investing $20 million in new studio | Scopely
Griffin Fund II Announcement | Griffin Gaming Partners
NDreams Receives $35M Investment from The Aonic Group | NDreams
U.S. Probes Options Trade That Gained on Microsoft-Activision Deal | WSJ (Paywall)
U.S. Probes Meeting Between Activision CEO and Option Buyer | WSJ (Paywall)

View Details

Activision Blizzard is accused of participating in a cover-up related to the death of one of its employees at a company retreat. Also: An update on video game industry action over Ukraine crisis, Epic purchases Bandcamp, Intellivision in trouble, and more.

Content Warning: We discuss a story that involves self-harm from 00:57:39 to 1:06:59.

Note: We will be on hiatus until Late March / Early April due to an upcoming move. We'll see you soon!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

+ [00:01:35] - The Video Game Industry Takes Action Over Ukraine Crisis
+ [00:11:07] - Amazon Luna Goes Live for Everyone
+ [00:17:48] - Investment Interlude
+ [00:45:25] - Quick Hits
+ [00:52:04] - Labor Update (Please note the Content Warning in the notes above)
+ [01:07:00] - Intellivision in Trouble
+ [01:11:08] - Unity 2021 in Gaming Report**SOURCES**


+ Vice Prime Minister of Ukraine asks PlayStation and Xbox to Leave Russian Market | Mykhailo Federov (@FederovMykhailo) on Twitter
+ Microsoft suspends new sales in Russia | Microsoft
+ Luna Now Available to Everyone in the Mainland US — More Games, New Features, and a Special Offer for Prime Members | Amazon
+ Activision Blizzard sued for wrongful death by family of employee who killed herself | Washington Post
+ Activision Blizzard Annual Report | SEC
+ Bandai Namco Announces Raises for Employees Due to Elden Ring Success | Bandai Namco (via Google Translate)
+ Intellivision Crowdinvesting Campaign | StartEngine
+ Intellivision Statement on Closing StartEngine Campaign Early | Sam Machkovech (@samred) on Twitter
+ 2021 Gaming Report | Unity**INVESTMENT INTERLUDE**


+ NETFLIX ANNOUNCED PLANS TO ACQUIRE THE FINNISH MOBILE GAME DEVELOPER NEXT GAMES | Next Games
+ Offworld Industries Announces Strategic Investment from Tencent | GamesPress
+ CI Games Takes Major Step Towards Listing on London Stock Exchange | CI Games
+ Sky and Journey maker Thatgamecompany raises $160M | GamesBeat
+ The FTC Must Investigate Microsoft’s Acquisition of Activision Blizzard | Public Citizen

View Details

We spoke with Oleksandr Molodkin from Kyiv-based developer Weasel Token about his family’s experience over the last week and what the game industry can do to assist Ukraine’s fight against Russia’s invasion.

Weasel Token’s Website: https://weaseltoken.com/
Wishlist Puzzles for Clef on Steam HERE

Charities Identified by Ukrainian Developers

National Bank of Ukraine - Armed Services Fund
Come Back Alive - Save a Life Fund

View Details

Let’s talk about Elden Ring! So… which class did you roll? Have you found any good weapons? Why is that angry giant shouting at me?! Oh wait… uh… shoot… news… um… OKAY!

Call of Duty hits some bumps, Nintendo makes an acquisition, Paradox and EG7 earnings, and how YOU can help fight discrimination in Texas and Florida and support Ukraine as it defends itself against Russia’s invasion.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:32] - Paradox Earnings
[00:15:01] - EG7 Earnings
[00:19:26] - Investment Interlude
[00:34:30] - Quick Hits
[00:51:09] - Listener Question (Steam Deck)
[00:56:14] - Labor Report
[01:11:33] - EA Preparing for End of FIFA Relationship
[01:15:16] - VRChat Fails Children
[01:25:11] - How to Help Fight Discrimination in Texas and Florida and Support Ukraine

SOURCES

Year-end report 2021 | Paradox
Interim Report for the Period October 1, 2021 to December 31, 2021 | EG7
Activision to delay Call of Duty 2023 | Tom Henderson (@_Tom_Henderson_) on Twitter
U.S. Senator warns Activision CEO about undermining unionization efforts as Raven NLRB hearing wraps | Washington Post
California DFEH Denied Stay Request | Stephen Totilo (@stephentotilo) on Twitter
Activision Blizzard shareholder sues over Microsoft sale | Polygon
Activision to Delay Next Year’s Planned Call of Duty Game | Bloomberg (Paywall)
Sony asks court to dismiss ex-PlayStation worker’s harassment lawsuit | Axios
Metaverse app allows kids into virtual strip clubs | BBC

INVESTMENT INTERLUDE

Notification of the Acquisition of SRD Co., Ltd. | Nintendo
Tencent Acquires Poland’s 1C Entertainment | 1C Games
Improbable announces the sale of Inflexion Games studio to Tencent | Improbable
Cloud Gaming Platform Antstream Arcade welcomes over 700,000 new players after funding boost | Gamespress
Celebs back Backbone’s mobile gaming controller with $40M round | TechCrunch

CHARITIES SUPPORTING TEXAS AND FLORIDA LGBTQIA YOUTH AND FAMILIES

National Center for Transgender Equality
Equality Texas
Transgender Education Network of Texas
Trans Pride Initiative
Central Texas Transgender Health Coalition
Equality Florida

CHARITIES SUPPORTING UKRAINE

International Committee of the Red Cross Contribution Page (Supporting the Ukrainian Red Cross)
Nova Ukraine
Doctors without Borders
Project Hope (On Tiltify)
Save the Children’s Emergency Fund (On Tiltify)

View Details

It’s almost time to say goodbye to the 3DS and Wii U eShops… but what about all that lost software? Also: Microsoft moved fast to acquire Activision when stocks tanked, Team17 promises change, Paradox has hard work ahead, and the NLRB hears arguments on Raven QA unionization.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:48] - Nintendo Sunsetting 3DS, Wii U eShops (And a Conversation about Preservation)
[00:22:32] - Thunderful Games Earnings
[00:32:14] - Investment Interlude
[00:37:32] - Quick Hits
[00:52:17] - Labor Report (Ubisoft, Activision, Team17, Paradox)

SOURCES

Wii U & Nintendo 3DS eShop Discontinuation | Nintendo
Thunderful Group Year-End Report January–December 2021 | Thunderful Group
An Update from A Better Ubisoft | A Better Ubisoft (@ABetterUbisoft) on Twitter
Activision DFEH Update | Stephen Totilo (@stephentotilo) on Twitter
Activision Awaits Crucial Ruling on Scope of Sex Harassment Suit | Bloomberg
Regulators Widen Activision Blizzard Probes Over Workplace Issues | Wall Street Journal (Paywall)
Activision Blizzard employees and management clash over union process in Zoom hearing | Washington Post
SCHEDULE 14A (Activision Blizzard) | SEC
Team17 exec promises change following last week's report | Eurogamer
Gender Balance’s review of Paradox Interactive AB | Paradox
Paradox publishes external report on studio culture after harassment issues raised last year | Eurogamer
Epic Games is making hundreds of temp testers into full employees with benefits | The Verge

INVESTMENT INTERLUDE

NACON ACQUIRES DAEDALIC ENTERTAINMENT | Nacon
KRAFTON ACQUIRES 5MINLAB, DEVELOPERS OF SMASH LEGENDS | Gamespress
Tripledot Studios raises $116M for mobile games | GamesBeat
Return Entertainment, a Cloud-Native Game Studio Transforming the Gaming Industry, Raises €5.3M | Gamespress

View Details

Earnings season continues! In this episode, we breakdown Sega, Remedy, Zynga, Roblox, Starbreeze, and Embracer Group’s latest earnings.

Support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:25] - Sega
[00:07:02] - Remedy
[00:10:31] - Zynga
[00:19:54] - Roblox
[00:32:34] - Starbreeze
[00:44:59] - Embracer Group

SOURCES

CONSOLIDATED FINANCIAL STATEMENTS [Japanese GAAP] | Sega Sammy
Fiscal Year Ending March 2022 Q3 Results Presentation | Sega Sammy
Strong year with new partnerships and game launches | Remedy
Zynga Announces Fourth Quarter and Full Year 2021 Financial Results | Zynga
ROBLOX REPORTS FOURTH QUARTER AND FULL YEAR 2021 FINANCIAL RESULTS | Roblox
STARBREEZE AB (PUBL) YEAR-END REPORT 2021 | Starbreeze
EMBRACER GROUP PUBLISHES INTERIM REPORT Q3 2021: OPERATIONAL EBIT INCREASED 86% TO SEK 1,119 MILLION | Embracer Group

View Details

Team17’s decision to dabble in NFTs has empowered employees to talk about the company’s history of workplace problems. Also: Trouble at Intellivision, Microsoft gets ahead of regulation, and SPACs run into problems…

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:20] - Intellivision in Trouble
[00:27:34] - NPD for January 2022
[00:40:07] - Investment Interlude
[00:50:42] - Quick Hits
[01:08:22] - Labor Report (Microsoft, Activision, Team17, IGDA)
[01:32:33] - Nintendo Direct Trends
[01:44:13] - Microsoft is Trying to Get Ahead of Regulation Concerns
[01:52:56] - FAFO Award

SOURCES

Intellivision CEO Tommy Tallarico Steps Down | IGN
Intellivision asks fans for more money, reveals massive Amico debts | Ars Technica
NPD Report on U.S. Video Game Spending for January 2022 | Mat Piscatella (@matpiscatella) on Twitter
Microsoft announces new app store principles | CNBC
‘Scorched earth’ and big profits: How embattled gaming titan Bobby Kotick outlasts his opponents | Washington Post
Inside Team17, following the Worms NFT firestorm | Eurogamer
IGDA mishandled complaints of harassment, conduct violations | GamesIndustry
Adapting ahead of regulation: a principled approach to app stores | Microsoft
Bowser gets 3+ years in prison over Nintendo Switch hack scheme | Polygon
Original Halo composers sue Microsoft over unpaid royalties dating back 20 years | Eurogamer

INVESTMENT INTERLUDE

SPACs Head for Metaverse After Results in Real World Flop | Bloomberg (Paywall)
Hiro Metaverse SPAC plans London IPO, eyes UK video games industry | Reuters
Hiro Metaverse Acquisitions raises £115m via IPO | GamesIndustry
NVIDIA and SoftBank Group Announce Termination of NVIDIA’s Acquisition of Arm Limited | Nvidia

View Details

It's the first bonus earnings episode of the quarter. On this show: Microsoft (and Activision), Capcom, Sony (and Bungie), EA, Nintendo, Unity, Square Enix, and Take-Two. WHEW!

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:3:15] - Microsoft
[00:17:22] - Activision
[00:27:19] - Capcom
[00:37:36] - Sony
[00:44:38] - Sony’s Acquisition of Bungie
[00:59:22] - Electronic Arts
[01:14:00] - Nintendo
[01:24:29] - Unity
[01:36:48] - Square Enix
[01:42:07] - Take-Two

SOURCES

Microsoft Cloud Strength Fuels Second Quarter Results
ACTIVISION BLIZZARD ANNOUNCES FOURTH-QUARTER AND 2021 FINANCIAL RESULTS
Capcom Consolidated financial results for the 3rd Quarter of FY2021
Sony Q3 FY2021 Consolidated Financial Results
Sony Interactive Entertainment Announces the Signing of a Definitive Agreement for the Acquisition of Bungie, Inc.
Bungie is Joining PlayStation
Electronic Arts Reports Q3 FY22 Financial Results
Electronic Arts Names Chris Suh as Chief Financial Officer
Electronic Arts and Lucasfilm Games Announce New Star Wars Titles in Development From Respawn Entertainment
Nintendo Trailing Nine Months for FY22
Unity Technologies - Unity Announces Third Quarter 2021 Financial Results
Square Enix Financial Results Briefing Session - Nine-Month Period Ended December 31, 2021
Take-Two Interactive Software, Inc. Reports Strong Results for Fiscal Third Quarter 2021

View Details

Another week, another round of companies thinking they can make NFT fetch happen. Also: 35 states back Epic against Apple. Wordle has a new owner, Activision is actively union busting, a bunch of investment stories, and a double dose of FAFO goodness… badness… FAFOness.

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:31] - Epic Games Store Year in Review
[00:16:43] - Update on Epic vs. Apple Suit
[00:26:54] - Investment Interlude
[00:41:54] - Quick Hits
[00:57:34] - Labor Report (Activision, Ubisoft, and some GOOD news)
[01:10:31] - FAFO Award

SOURCES

Epic Games Store 2021 Year in Review
Dozens of states side with Epic in Apple App Store appeal | Ars Technica
Activision Blizzard to reorganize Raven QA workers amid union efforts
Request for Investigation of Inaccurate and Misleading Disclosures in Activision Blizzard, Inc. Agreement and Plan for Merger With Microsoft Corporation
Activision Blizzard Vice President of QA Union Busting Message on Company Slack | Jessica Gonzalez (@_TechJess) on Twitter
Investigation into Ubisoft Singapore concludes misconduct reports are handled appropriately | GamesIndustry

INVESTMENT INTERLUDE

Epic Games Incubates New Studio in Poland
Epic Games joins Spire Animation’s $20M round for animated metaverse films
The New York Times Buys Wordle | New York Times
An update on Wordle | Josh Wardle (@PowerLanguish on Twitter)
MTG DIVESTS ESL GAMING TO SAVVY GAMING GROUP FOR USD 1,050 MILLION TO COMBINE WITH FACEIT AND CREATE GLOBAL LEADER IN COMPETITIVE GAMING
Saudi Wealth Fund Boosts Gaming Bets With Capcom, Nexon Stakes | Bloomberg (Paywall)
Nexters invests $100 million into acquiring three gaming companies
NetEase Games establishes Nagoshi Studio, led by Yakuza series creator Toshihiro Nagoshi | Gematsu
Activision Blizzard vets launch community-centric publisher New Tales | Game Developer
VIRTUOS FURTHERS GLOBAL GROWTH AMBITIONS WITH NEW STUDIO IN KYIV, UKRAINE
Virtual reality game studio Alta raises $12.4M | GamesBeat
Lost Lake Studio raises $5M in funding for game development team | GamesBeat
Tilting Point Acquires Leading Korea Based Game Developer AN Games

View Details

TT Games, the studio behind the LEGO games, has a deep history of crunch and bad management according to a Polygon report. Also, the latest on Activision Blizzard, unionization at Raven, dispelling the myth of BioWare Magic, NPD for December and 2021, and a look at this year's State of the Industry report.

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:33] - NPD for December 2021 and Full Year 2021
[00:28:22] - Investment Interlude
[00:35:04] - Quick Hits
[00:43:55] - Labor Report
[01:17:04] - State of the Industry Report for 2022

SOURCES

Mat Piscatella (@MatPiscatella) on Twitter re NPD for December 2021 and full-year 2021
Activision Blizzard SEC Filing - FAQ for Employees
PUTTING OUR TEAMS AND PLAYERS AT THE FOREFRONT OF EVERYTHING WE DO
Activision Blizzard employees at Raven Software ask management to recognize new union | Washington Post
Lego Star Wars: The Skywalker Saga has led to extensive crunch at TT Games | Polygon
Old Game Dev Advice (Mark Darrah) | YouTube

INVESTMENT INTERLUDE

Spyke Games Raises Record-Breaking $55 Million Seed Round For Social Mobile Games from World’s Leading Gaming VC Griffin Gaming Partners
Mythical Games Acquires Metaverse Streaming Platform Polystream
NDREAMS STUDIO ELEVATION ANNOUNCEMENT
Bit Reactor, LLC. Founded by Industry Veterans to Take Turn-Based Tactics Games to Next Level

View Details

We’re talking about Microsoft’s planned purchase of Activision Blizzard for $68.7 billion.

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

We’re back for the start of Season 3 with some trends chat from Steam’s Best of 2021 report, PSVR2, the latest labor news, and a whole lot of acquisitions to discuss (Embracer, Take-Two, and Tencent took some big swings). And we need to talk about E3...

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:04:24] - Trends and Learnings from Steam’s Best of 2021
[00:27:15] - PSVR2 Details
[00:35:36] - Investment Interlude (Embracer Group acquires Asmodee, Dark Horse, and more; Tencent acquires Turtle Rock; Take-Two plans to acquire Zynga)
[01:04:43] - Quick Hits
[01:29:16] - Labor Update (Vodeo, Activision, Bungie, Riot)
[01:47:16] - FAFO Award

SOURCES

Steam - The Best of 2021
PlayStation VR2 and PlayStation VR2 Sense controller: the next generation of VR gaming on PS5
North America has its first video game union at Vodeo Games
Armor Games adopts four-day work week permanently | GamesIndustry
Court denies DFEH objection to Activision Blizzard lawsuit settlement | PCGamer
Activision Judge’s Ruling in Turf War Draws California Appeal | Bloomberg Law
Activision Blizzard Pushes Out Dozens of Employees Over Workplace Misconduct | WSJ
LEGO Overwatch 2 Titan (76980) Release Delayed | The Brick Fan
Riot Games agrees to pay $100 million in settlement of class-action gender discrimination lawsuit | Washington Post
Bungie's Head of HR Has Stepped Down | IGN

INVESTMENT INTERLUDE

EMBRACER GROUP INTENDS TO MAKE A STRATEGIC ACQUISITION OF LEADING BOARD GAMING GROUP ASMODEE THAT WOULD FORM THE NINTH OPERATING GROUP
EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE PERFECT WORLD ENTERTAINMENT
EMBRACER GROUP ACQUIRES SHIVER ENTERTAINMENT
EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE DIGIC
EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE SPOTFILM NETWORX
EMBRACER GROUP ENTERS INTO AN AGREEMENT TO ACQUIRE DARK HORSE AND FORMS THE TENTH OPERATIVE GROUP
Tencent acquires Turtle Rock Studios
Acquisitions of Waste Creative and Wicked Witch
Russo Bros.’ AGBO Sells 38% Stake To Video Game Firm Nexon For $400M In Embrace Of Virtual Worlds | Deadline
Team17 acquires Astragon for €75m | GamesIndustry
Take-Two and Zynga to Combine…

View Details

It’s our last show of 2021! This week: The Game Awards, GameStop earnings take a fall, a big labor update, November NPD, and more.

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:34] - The Game Awards Recap
[00:34:21] - Gamestop Q3 Earnings
[00:40:14] - Investment Interlude
[00:44:55] - Quick Hits
[00:52:55] - Labor Update
[01:10:48] - NPD for November 2021
[01:23:19] - FAFO Award

SOURCES

GameStop Reports Financial Results for Q3 2021
GameStop Pushes Employees To The Breaking Point During Holiday Rush | Kotaku
@ABetterABK on Twitter re Walkout over Raven QA Layoffs
@StephenTotilo (Stephen Totilo, Axios) on Twitter re Statement from A Better ABK
ABK Strike Fund on GoFundMe
Lisa Bloom on Instagram re Lawsuit filed by “Christine” over Blizzard work experience
@BlizzJess (Jessica Gonzalez, A Better ABK organizer) on Twitter re Union Busting Email from Activision Chief Administrative Officer Brian Bulatao
@BlizzJess (Jessica Gonzalez, A Better ABK organizer) on Twitter re Union Busting Email from Activision Chief People Officer Julie Hodges to Managers
@BlizzJess (Jessica Gonzalez, A Better ABK organizer) on Twitter re Activision Blizzard poor conditions for nursing mothers, including theft of breast milk
Ubisoft admits its handling of misconduct lost some workers' trust | Axios
@ABetterUbisoft on Twitter in response to Axios Anika Grant interview
The Battle for Bungie's Soul: Inside the Studio's Struggle for a Better Work Culture | IGN
A MESSAGE FROM BUNGIE CEO PETE PARSONS
@MatPiscatella (NPD) on Twitter - November 2021 US Videogame Spending
Bowser agrees to $10 million fine for selling Nintendo Switch hacks | The Verge

INVESTMENT INTERLUDE

@HermenHulst (Hermen Hulst, SIE Head of Worldwide Studios) re Acquisition of Valkyrie Entertainment
MGVC BECOMES A TOP-10 STRATEGIC INVESTOR GLOBALLY WHILE PUTTING C. $2M USD INTO TWO NEW GAME STUDIOS
Tamatem raises $11M Series B led by PUBG maker Krafton | TechCrunch
PCF GROUP S.A (PEOPLE CAN FLY) EXPANDS ITS VR COMPETENCIES WITH A THIRD ACQUISITION OF 2021

View Details

Take-Two doesn’t want anyone to trademark anything that includes the words “Rockstar” or “Take” or “Two” in a trademark dispute overreach. Also: A big labor update (Activision, Ubisoft, Sony, Microsoft), CD Projekt and EG7 earnings, Tencent in trouble at home, and Marty O’Donnell’s big mea culpa.

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:04:56] - CD Projekt Earnings
[00:16:20] - EG7 Earnings
[00:28:06] - Tencent in Trouble
[00:31:51] - Investment Interlude
[00:47:08] - Quick Hits
[01:05:42] - Labor Update (Activision, Ubisoft, Sony, Microsoft)
[01:22:04] - Take-Two Gets Aggressive with Trademarks
[01:28:20] - FAFO Award

SOURCES

CD Projekt Consolidated Financial Statement Q3 FY2021
Enad Global 7 Q3 2021 Investor Presentation
Report: Tencent suspended from updating or launching apps in China | Game Developer
Activision Blizzard CEO Bobby Kotick Tells Colleagues He Would Consider Leaving if He Can’t Quickly Fix Problems | WSJ (Paywall)
Activision Blizzard Board of Directors Continues to Build Upon Its Ongoing Oversight
Nintendo Issues Internal Response to Activision-Blizzard Reports | Fanbyte
ESA on Activision Blizzard: “Harassment should never be tolerated” | GamesIndustry
6 state treasurers pressure Activision over misconduct allegations | Axios
Jessica Gonzalez on Twitter
Austin O’Brien on Twitter
Lawsuit against PlayStation alleges gender discrimination | Axios
Fawzi Mesmar Named As Ubisoft’s New Vice President of Editorial
Microsoft will be required to disclose sexual harassment cases after shareholder vote | Engadget
Josef Fares' It Takes Two hit by Take-Two claim | Eurogamer
Message From Marty O'Donnell

INVESTMENT INTERLUDE

Harmonix Joins Epic Games to Create Immersive Music Experiences
HARMONIX IS JOINING THE EPIC GAMES FAMILY!
Nordisk Games acquires Flashbulb Games
Zordix Group Acquires Global Games Publisher Maximum Games Inc.
Welcome, SyncSketch!
Niantic Receives $300 Million Investment From Coatue
Welcome Team Lowkey to Niantic
Atari Announces Strategic Transactions
Moon Active valuation surges to $5 billion on back of $300 million Insight funding | Calcalist
UTA Acquisition Corporation Announces Pricing of $200 Million Initial Public Offering

View Details

Excellent reporting from the Wall Street Journal and others have further exposed Activision’s c-suite crisis, as Microsoft and Sony call Bobby Kotick to account. Also: Embracer Group, Paradox, and Thunderful earnings and a FAFO award!

You can watch the streamed VOD of this episode at Twitch.tv/VirtualEconomy and support our growth via our Ko-Fi and also purchase Virtual Economy merchandise!

Content Warning from 51:01 through 01:19:39: During the Activision update, we discuss new reporting that deals with sexual assault.

TIME STAMPS

[00:02:47] - Embracer Group Q2 2021 Earnings
[00:10:44] - Paradox Earnings for Q3 2021
[00:18:55] - Thunderful Group earnings for Q3 2021
[00:21:36] - Investment Interlude
[00:34:21] - Quick Hits
[00:51:01] - Activision Update
[01:19:39] - FAFO Award

SOURCES

EMBRACER GROUP PUBLISHES INTERIM REPORT Q2 2021
Paradox Interim report January - September 2021
Thunderful Group Interim Report January – September 2021
Activision CEO Bobby Kotick Knew for Years About Sexual-Misconduct Allegations at Videogame Giant | WSJ (Paywall)
Activision Blizzard Board of Directors Issues Statement Regarding Recent Article
Former Blizzard Co-Lead Jen Oneal Says She Was Offered Equal Contract Only After Resigning | IGN
Shareholders call on Activision Blizzard Board to terminate CEO, replace Board Chair and Lead Independent Director
PlayStation Chief Criticizes Activision’s Response to Crisis | Bloomberg (Paywall)
Xbox Chief Says He’s Evaluating Relationship With Activision | Bloomberg (Paywall)
Activision Blizzard doubles down on Kotick defense in all-hands meeting | Game Developer
An Update On Girls Who Code’s Partnership with Activision Blizzard

INVESTMENT INTERLUDE

Thunderful Acquires Mobile Developer Early Morning Studio
Private Division Acquires Developer Roll7
IndieBI raises $3M USD from games industry luminaries to bring modern business intelligence and sales optimization to PC, Console, and VR games
In-game creation platform Overwolf raises $75M Series D led by Andreessen Horowitz | TechCrunch
DreamCraft Closes $10 Million Series A Funding Led by March Gaming

View Details

It’s the end of earnings season! This week: Sega, Konami, Digital Bros/505 Games, Remedy, Starbreeze, Roblox, Zynga, Unity. Also: NPD for October 2021, a FAFO award, and a bunch of quick hits!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:09] - Sega Earnings
[00:11:01] - Konami Earnings
[00:14:08] - Digital Bros Earnings
[00:16:47] - Remedy Earnings
[00:19:01] - Starbreeze Earnings
[00:22:22] - Roblox Earnings
[00:34:20] - Zynga Earnings
[00:45:05] - Unity Earnings
[00:51:33] - Investment Interlude
[01:01:18] - Quick Hits
[01:10:59] - Activision / Ubisoft Labor Update
[01:16:33] - NPD for October 2021
[01:19:52] - This Week’s FAFO Award

SOURCES

Sega H1 FY2022 Earnings
Konami H1 FY2022 Earnings
Digital Bros Q1 FY2022 Earnings
Remedy Entertainment PLC: Q3 Business Review
Starbreeze Q3 FY2021
ROBLOX REPORTS THIRD QUARTER 2021 FINANCIAL RESULTS
Zynga Announces Third Quarter 2021 Financial Results
Zynga Hires Matt Wolf as Vice President of Blockchain Gaming
Unity Announces Third Quarter 2021 Financial Results
Unity Announces Intent to Acquire Weta Digital
NPD October 2021 United States Video Games Consumer Spend Report

INVESTMENT INTERLUDE

2K Announces Acquisition of elite3d
Tencent Buys Game Studio Behind Hit Nintendo Switch Titles | Bloomberg (Paywall)
AudioMob Raise $14million in Series A Funding Valued at USD$110m
Sandbox VR expands to new locations globally with $37M Series B led by Andreessen Horowitz | TechCrunch
Playtertainment Announces Completion of $5 Million Funding Round…
Hadi raises $5.2M for casual mobile games | GamesBeat

View Details

Devolver Digital makes the move from indie to public company. Also: Take-Two, EA, Nintendo, Square Enix earnings, Blizzard loses its best hope for reform, Ubisoft employees call on the public for help, and Bowser is owes Nintendo $4.5M (and wins this week’s FAFO Award).

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:28] - Take-Two Q2 FY2022 Earnings
[00:18:20] - EA Q2 FY2022 Earnings
[00:37:18] - Nintendo H1 FY2022 Earnings
[00:47:16] - Square Enix H1 FY2022 Earnings
[00:58:15] - Investment Interlude
[01:04:41] - Quick Hits
[01:14:34] - Netflix Launches Mobile Games in More Countries
[01:16:41] - Activision / Ubisoft Update
[01:22:49] - FAFO Award

SOURCES

Take-Two Q2 FY2022 Earnings
EA Q2 FY2022 Earnings
Nintendo H1 FY2022 Earnings
Square Enix H1 FY 2022 Earnings
Let the Games Begin: A New Way to Experience Entertainment on Mobile
Bowser pleads guilty, ordered to pay $4.5M to Nintendo | Polygon

INVESTMENT INTERLUDE

DEVO | Devolver
Splash, The Creators of the AI-powered Music-Making Roblox Game, Raises $20M USD to Launch the Next Generation of Superstars
Beamable Expands 2021 Funding to Over $10m to Accelerate Platform for Live Games
Game creation startup OCP raises $4.3M to develop its first product | GamesBeat

View Details

While Bobby Kotick takes a bow on his paycut, the stage manager is holding up a sign that says “He just got a $155 million payday!” Also: Sony, Microsoft, and Capcom earnings, the end of PAX South, Australian game developers take a stand against crypto and NFTs, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:36] - Sony Q2 FY2021 Earnings
[00:10:23] - Microsoft Q1 FY2022 Earnings
[00:22:50] - Capcom Q2 FY2022 Earnings
[00:28:49] - Investment Interlude
[00:45:16] - Quick Hits
[00:56:43] - Australian game developers take a stand against environment-harming crypto and NFTs
[01:01:42] - GameStop ditches newly hired COO Jenna Owens
[01:05:34] - Activision Update

SOURCES

Sony FY2021 2Q Earnings Announcement
Microsoft Q1 2022 Earnings
SEGA and Microsoft to Explore Strategic Alliance to create New Strategic Titles for SEGA and establish a Next-Generation Development Environment
Capcom FY2022 Q2 Earnings
Game Developers of Australia re Blockchain / NFTs | Twitter
GameStop parts ways with COO Jenna Owens
REIMAGINING BLIZZCON
A Letter From CEO Bobby Kotick Regarding Progress and Commitments Made at Activision Blizzard
ABetterABK on Twitter
ABetterUbisoft on Twitter

INVESTMENT INTERLUDE

Thunderful Acquires Robot Teddy To Create New Investment Pillar “Thunderful Investment”
‘GOOSE BYTE’, A BRAND NEW GAME STUDIO ESTABLISHED BY AMPLIFIER GAME INVEST, SETS UP IN MONTRÉAL
Microsoft acquires Two Hat to collaborate on online safety and digital wellness solutions for online communities
KRAFTON, INC. TO ACQUIRE UNKNOWN WORLDS, THE DEVELOPERS BEHIND SUBNAUTICA AND NATURAL SELECTION
Big News from Supernatural
Devolver Digital eyes GBP694 million market value amid AIM float | Morningstar

View Details

Activision Blizzard has tried and failed to pause the lawsuit brought by the California Department of Fair Employment and Housing. Also: NPD acquired, death threats hit Abandoned dev Blue Box, Microsoft still hungry for more acquisitions, and Unity makes moves.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:08] - Unity launches multiplayer service suite
[00:11:57] - Valve learns from Steam Machines mistakes
[00:22:35] - Abandoned dev Blue Box facing death threats
[00:31:58] - Investment Interlude
[00:53:14] - Quick Hits
[01:14:52] - NPD for September 2021
[01:22:00] - Activision Blizzard tries, fails to dodge lawsuit

SOURCES

See at a glance how games will play on Steam Deck
The Road Ahead for Xbox with Phil Spencer | Wall Street Journal
Activision Blizzard is trying to get the discrimination suit thrown out of court | The Verge
Activision Blizzard fired 20 employees over harassment claims | FT

INVESTMENT INTERLUDE

Scopely to Acquire GSN Games From Sony Pictures Entertainment
Koch Media acquires Splatter Connect | Games Industry
The Molasses Flood video games development studio joins CD PROJEKT Group
THE NPD GROUP TO BE ACQUIRED BY HELLMAN & FRIEDMAN
Announcement on Grasshopper Manufacture Inc.Joining NetEase Games
ironSource to Acquire Bidalgo, Further Deepening Its Platform Offering for App Developers With a Full-Stack Marketing Solution
Spin Master Establishes Spin Master Ventures to Accelerate Growth in Key Strategic Areas
FAZE CLAN… TO BECOME A PUBLICLY LISTED COMPANY THROUGH MERGER WITH B. RILEY PRINCIPAL 150 MERGER CORP.
Galaxy Interactive Raises an Additional $325 Million for its Second Interactive Content and Technology Venture Fund
PIEPACKER RAISES $12M IN SERIES A FUNDING LED BY LEGO VENTURES
Kazoo Games buzzes to the tune of $12 million investment for midcore, casual game development

View Details

This week, we’re talking about big corporations, performative allyship, and why they aren’t your friends. Yes, that social media account is funny and has a rainbow version of their logo. No, the executives often don’t know or care about it. On this episode, we discussed Twitch, MercurySteam, the latest on the Activision Blizzard lawsuits, and trouble at Paradox.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:51] - Twitch got hacked, but at least we have tools to slow down hate raids now
[00:25:37] - Bungie takes a stand for accessibility and diversity
[00:37:09] - Investment Interlude
[00:54:30] - Quick Hits
[01:11:29] - Activision Blizzard update: EEOC and DFEH at war
[01:23:21] - Paradox shift strategy, and more reports of toxicity emerge

SOURCES

Securing your Chat with Phone and Email Verification
Updates on the Twitch Security Incident
Twitch’s security problems started long before this week’s hack | The Verge
DIVERSITY & INCLUSION LEARNINGS AND UPDATES
INTRODUCING ACCESSIBILITY AT BUNGIE
MercurySteam employees discuss studio working conditions | AnaitGames
US EEOC vs Activision Blizzard - Objection to Proposed Consent Decree and Request for Fairness Hearing
US EEOC vs Activision Blizzard - Memorandum of Points and Authorities in Support of Plaintiff EEOC’s Opposition to Proposed Intervenor DFEH’s Ex Parte Application to Shorten Time To file Motion to Intervene
Paradox Interactive AB (publ) cancels unannounced projects to focus the game development pipeline, writes down -135 MSEK
PARADOX BELIEVES IN BLOODLINES, AWAITS BIG INVESTMENT ROLE GAME | Avanza
Paradox staff criticise "culture of silence" which let man with reputation for harassment hold senior role for years | Eurogamer

INVESTMENT INTERLUDE

M.O.B.A. Network acquires ResetEra.com - one of the world's largest gaming forums
ironSource to Acquire Mobile Advertising and App Monetization Company Tapjoy
Kanga is joining Riot Games!
Lucid Sight, Inc. Announces $2.58 Million Investment to Launch Colyseus Arena Cloud-Hosted Multiplayer Service
Captain.tv raises $10M Series A to make games for streamers to play with their viewers
Order of Meta raises $1.5M for mobile shooter game | GamesBeat
Kixeye shareholders sue Stillfront for $30M over earnout dispute | GamesBeat

View Details

I know. We don’t call. We don’t write. Life has been a little bananas. BUT WE’RE BACK! We’re catching up with a bunch of investment news and quick hits to set the table for a return to our regular schedule on Saturday. In this episode: Sony (finally) confirms its acquisition of Bluepoint, Netflix makes moves, and there’s some weirdness around a rumored Nintendo 4K dev kit.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:18] - Investment Interlude
[00:37:09] - Quick Hits

SOURCES

Xbox Accessibility Showcase - October 2021 - YouTube

INVESTMENT INTERLUDE

NACON ANNOUNCES THE 100% ACQUISITION OF ISHTAR GAMES
Mobile gaming company Voodoo acquires Beach Bum | TechCrunch
About Netflix - Expanding Our Games Team With the Acquisition of Night School Studio
We are joining the Netflix team. - Night School Studio
Netflix launches new mobile games in Poland, Italy and Spain as a members-only perk | TechCrunch
Welcoming Bluepoint Games to the PlayStation Studios family
FIRESPRITE LIMITED COMPLETES ACQUISITION OF FABRIK GAMES LIMITED
Niantic Acquires Developer Experience Leader, Hoss
AppLovin to Acquire Twitter’s MoPub Business
AppLovin to Acquire MoPub Business From Twitter | AppLovin
Supersocial raises $5.2M to make games for the Roblox metaverse
ARISTOCRAT CONTINUES TO INVEST IN EXPANDING DIGITAL GAME PIPELINE AND PORTFOLIO DIVERSIFICATION FOR GROWTH
Kepler Interactive, New "Super‑Developer" Group, Announces $120M Funding Round
1939 Games raises $5.3m to create Kards mobile game
Game Jolt raises $2.6M to expand social platform for Gen Z gamers
MY.GAMES VENTURE CAPITAL INVESTED $ 3 MILLION TO SUPPORT CIS STUDIOS
Mobile gaming startup Homa Games raises $50 million
SideQuest raises $3m to fuel VR development

View Details

Activision Blizzard is pissing off all the wrong people, including government regulatory agencies. Also: Twitch covers its butt with the music industry, high fashion comes to Fortnite, and Apple shuts down Epic’s hope of recovering its developer accounts and getting Fortnite back on the App Store.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:34] - Twitch covers its butt in deal with NMPA
[00:11:44] - Activision gets sued by SEC, but gets off easy with EEOC
[00:35:58] - Investment Interlude
[00:40:23] - Quick Hits
[00:49:41] - Fortnite x Balenciaga - High Fashion Gets in the Game
[01:01:32] - This Week’s FAFO Award: Epic Games

SOURCES

TWITCH STRIKES DEAL WITH MUSIC PUBLISHERS
Noah Downs on Twitter re Twitch / NMPA
NMPA AND ROBLOX STRIKE INDUSTRY-WIDE AGREEMENT
SEC Is Investigating Activision Blizzard Over Workplace Practices, Disclosures (WSJ)
SOC Investment Group: Activision Blizzard execs need to be held accountable for toxic working culture (GamesIndustry.biz)
Activision Blizzard Provides Update on Workplace Initiatives
Blizzard Entertainment's chief legal officer departs as lawsuits stack up (gamedeveloper.com)
Overwatch 2 chief leaves Activision Blizzard (Polygon)
Activision Blizzard Commits to Expanded Workplace Initiatives, Reaches Agreement with the EEOC
Balenciaga Brings High Fashion to Fortnite - Epic Games
Tim Sweeney on Twitter re Apple decision not to reinstate Epic’s developer accounts (1) (2)

INVESTMENT INTERLUDE

MY.GAMES ACQUIRES HYPER CASUAL PUBLISHER, MAMBOO GAMES
FuzzyBot raises $3.5m in seed funding round (Games Industry)
StreamElements nabs $100M as it passes 1.1M creators using its platform to build and monetize video content (TechCrunch)

View Details

Activision Blizzard is the subject of employee-driven National Labor Relations Board charges of anti-worker activity. Also: An update on Paradox and its union survey of work conditions in Sweden, NPD for August 2021, and App Annie is slapped with an SEC fine.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:10] - Update on Paradox union surveys
[00:12:15] - App Annie gets slapped with $10 million SEC fine
[00:25:19] - Investment Interlude
[00:40:41] - Quick Hits
[00:51:50] - Activision Blizzard the subject of a National Labor Relations Board lawsuit
[01:02:52] - NPD for August 2021
[01:11:24] - This week’s FAFO Award

SOURCES

Paradox boss says he regrets "inappropriate behaviour" during company meeting (Eurogamer)
SEC Charges App Annie and its Founder with Securities Fraud (SEC Website)
Activision Blizzard Hires Senior Executives from Disney and Delta
Activision Blizzard charged with violating labor law (Protocol)
Activision Blizzard sued again, this time for labor violations (The Verge)
Activision Blizzard lawsuit has video game workers using union tactics — but not unionizing (The Washington Post)

INVESTMENT INTERLUDE

TinyBuild buys Russia based Bad Pixel for $17.1 million (NewsnReleases)
Chat App Discord Is Worth $15 Billion After New Funding (Bloomberg)
Mobile Premier League raises $150M at $2.3B valuation for mobile esports (GamesBeat)
Elodie Games raises $32.5m in Series A funding (GamesIndustry)
Aim Lab maker Statespace raises $50M for game and health performance training (GamesBeat)

View Details

On this week’s show: Tripwire Interactive CEO tanks his studio’s reputation with a single tweet before showing himself the door, Epic vs Apple is over (and Apple mostly won), Twitch sues hate raiders as it scrambles to do evidence it’s doing anything to stop harassment on its platform, Paradox employees speak out against toxicity, and more.

Update: After we published, Epic filed a notice of appeal after the ruling in its case against Apple. So, despite our earlier show note, it isn't over yet!

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:08] - Tripwire Interactive’s (former) CEO wants to control women’s bodies
[00:21:47] - Paradox Interactive employees stand up against a toxicity
[00:28:39] - Sony’s State of Play was a strong showing, though the format was iffy
[00:43:27] - Twitch sues alleged hate raider ringleaders
[00:49:17] - Investment Interlude
[00:57:39] - Quick Hits
[01:11:54] - Epic vs. Apple is OVER
[01:23:08] - Two companies adopt new permanent work policies in the wake of the pandemic
[01:27:03] - GameStop Q2 FY22 and a potential partnership with… AMC Theatres?

SOURCES

John Gibson on Twitter - September 4, 2021
Shipwright Studios on Twitter - September 5, 2021
Torn Banner Studios on Twitter - September 5, 2021
Tripwire Appoints new Interim CEO, Alan Wilson
Alarm from inside the game success Paradox Interactive – leaked document testifies to bullying, abuse and culture of silence (BreakIt)
Twitch sues two people allegedly behind hate raids (Washington Post)
Epic vs Apple Rule 52 Order After Trial on the Merits
Epic vs Apple Judgment
Epic vs Apple Permanent Injunction
Phil Tibitoski of Young Horses on Twitter - September 2, 2021
Gamestop FY2022 Q2 Earnings
AMC CEO Adam Aron on $25M ad campaign, potential relationship with GameStop (FOX Business)

INVESTMENT INTERLUDE

Welcoming Firesprite to the PlayStation Studios Family
Jam City Acquires Award-Winning Game Studio Ludia for $165 Million...
Virtuos Secures USD150 Million Investment... to Accelerate Global Growth and Fast Track Digitalization
AccelByte raises $10M to make Tripe A Quality Backend-as-a-Service Accessible and Affordable
Toya Raises $4M to Fuel Diverse Growth on Roblox
Stillfront acquires UAE’s Kawaker for $205 million (Wamda)

View Details

It’s our 100th episode! Thank you to everyone who has listened and supported us! This week: The graded collectible game bubble, the scar of Cyberpunk 2077’s failed launch, China’s tightened youth gaming restrictions, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:07:05] - What the heck is going on with video game auctions?
[00:36:11] - Apple makes more concessions for App Store payment processing
[00:39:36] - Paradox CEO Ebba Ljungerud steps down over corporate strategy differences
[00:46:05] - Investment Interlude
[00:57:37] - Quick Hits
[01:14:38] - CDProjekt Half-Year earnings stumble on Cyberpunk 2077 failure
[01:24:35] - Game company charged with running a Ponzi scheme
[01:31:07] - China’s new gaming regulations limit minors to three hours or play per week
[01:39:25] - How did #ADayOffTwitch impact the streaming platform?

SOURCES

Video Game Grading House WATA Told the New York Times That Its Employees Can't Sell WATA-Graded Games Due to Conflicts of Interest… (Proof / Seth Abramson)
South Korea law forces Google and Apple to open up app store payments (Ars Technica)
Japan Fair Trade Commission closes App Store investigation
Paradox Interactive AB (publ) changes CEO and Chairman of the Board
CDProjekt H1 2021 Financial Statement
SEC Accuses Game Studio Owner Of Operating A Ponzi Scheme (TheGamer)
China restricts young people to playing video games three hours a week (Washington Post)
A Day Off Twitch by the numbers (CreatorHype)

INVESTMENT INTERLUDE

Playtika enters Design Entertainment market through acquisition of Reworks, maker of Redecor
MyGames grabs minority stake in Spanish dev The Breach Studios for $4.1 million (Game Developer)
Clockwork Labs Raises $4.3M To Create Ambitious Community Sandbox MMORPG
Studio Sirah raises $830k in seed funding to fuel debut mobile game (GamesIndustry)
Gigantic Duck raises SEK 10m (GamesIndustry)
ProbablyMonsters Raises $200M in Largest Series A Round for Videogame Development
Azerion increases European advertising offering with the acquisition of Sublime

View Details

Steam’s refund policy is great… until people start abusing it and hurting small developers. Also: EA offers up accessibility patents for free, Apple does the bare minimum to ward off lawsuits, and Unity employees take a stand.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:01] - EA makes five accessibility patents available for free
[00:14:38] - Unity employees speak up about company’s military contracts
[00:32:49] - Investment Interlude
[00:42:06] - Quick Hits
[00:50:48] - Activision Blizzard in more hot water with the DFEH
[00:53:51] - Apple makes small concession in attempt to settle lawsuit
[00:55:56] - How Steam’s refund policy hurt one small developer

SOURCES

Using our patents to drive positive play (EA)
EA’s Patent Pledge for Increasing Accessibility
EA's efforts to catch up to its responsibility (GamesIndustry)
Unity Workers Question Company Ethics As It Expands From Video Games to War (Vice)
California expands lawsuit against Activision Blizzard (Axios)
Apple loosens rules for developers in major concession amid antitrust pressure (Washington Post)
Coalition for App Fairness Statement on Apple’s Sham Settlement Offer

INVESTMENT INTERLUDE

Unity Acquires OTO to Foster Safer Gaming Environments
Our stock begins trading on Nasdaq today, as the SPAC deal is finally closed (Nexters)
Apphic Games received investment from WePlay Ventures with a valuation of 14 Million TL
absurd:joy announces $5.35 million raise for new virtual office/collaboration platform built around privacy, comfort and creativity

View Details

Twitch is failing marginalized creators as instances of hate raids, harassment, and virulent toxicity have spiked on the platform. Content creator and #TwitchDoBetter originator RekItRaven joins us to discuss.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

Epic Games is under fire for wholesale copying Innersloth’s Among Us for a new Fortnite Mode. Also: the latest on Activision Blizzard, earnings updates (Starbreeze, Remedy, Paradox, Unity, Roblox, Embracer Group), NPD, and more.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:00:58] - Krafton’s IPO Woes
[00:03:31] - App Annie and Sensor Tower Mobile Gaming Reports
[00:07:11] - US Senate moves to take on Apple, Google with Open App Markets Act
[00:13:13] - Epic Games Store self-publishing enters closed beta
[00:13:49] - Fortnite shamelessly rips off Among Us
[00:20:26] - People Can Fly has not yet received revenue from Outriders
[00:34:46] - Investment Interlude
[00:51:07] - Quick Hits
[01:09:12] - Activision Blizzard Update
[01:18:53] - California DFEH takes aim at Riot Games
[01:21:10] - Ubisoft Singapore under investigation for harassment and toxic workplace allegations
[01:22:10] - Starbreeze Earnings
[01:25:39] - Remedy Earnings
[01:28:23] - Unity Earnings
[01:31:51] - Paradox Earnings
[01:39:51] - Roblox Earnings
[01:46:39] - Embracer Group Earnings
[01:49:50] - No More Robots celebrates four year anniversary
[01:50:58] - NPD report for July 2021

SOURCES

Beijing’s tech crackdown casts long shadow over South Korea’s biggest IPO in a decade (South China Morning Post)
2021 Mobile Gaming Tear Down (App Annie)
Senators want to rein in Apple and Google’s app store dominance
TRUST NOBODY: INTRODUCING FORTNITE IMPOSTORS
No entitlement to royalties on the sale of the “Outriders” game for PCF Group S.A.
Jesse McCree, Diablo 4 Director No Longer At Activision Blizzard (Kotaku)
Activision Blizzard’s contract workers say they’re ‘crushed’ by toxic culture (Polygon)
SOC Investment Group takes aim at Activision Blizzard
DFEH Files Request for Enforcement of Court Order Compelling Riot Games, Inc. to Send Notice to Workers about their Right to Speak with the Government
Ubisoft S'pore under probe over workplace complaints (The Straits Times)
Starbreeze Interim Report First Half 2021
Remedy Half-Year Review (January 1 - June 30 2021)
Paradox Interim report January - June 2021
Unity FY21 Q2
Roblox FY21 Q2
Investigation: How Roblox is Exploiting Young Game Developers (People Make Games)
Roblox "exploiting" young game developers, new investigation reports (Eurogamer)
Embracer Group First Quarter FY2022

INVESTMENT INTERLUDE

Unity Enters Into Agreement to Acquire Parsec
Embracer Group Snaps Up Three More
ROBLOX ACQUIRES GUILDED, A PLATFORM TO CONNECT GAMING COMMUNITIES
Thunderful Group acquires To The Sky and Tussilago
TinyBuild acquires Animal (GamesIndustry)
Rovio Entertainment to acquire hyper-casual game studio Ruby Games
Sony Pictures Entertainment Announces the Completion of Acquisition of Ellation Holdings, Inc., Operator of the Anime Business Crunchyroll
Rolocule Games acquired by Dream Sports
Keywords Studios plc Acquisition of AMC RO STUDIO
Roblox acqui-hires Jim Greer’s Bash Video platform (GamesBeat)
NACON ANNOUNCES THE ACQUISITION OF CREA-TURE STUDIOS, MONTREAL BASED VIDEO GAME STUDIO, BEHIND THE SUCCESS OF « SESSION »
VR dev XR Games nets $2.1 million to expand team and create new franchises (Gamasutra)
Mountaintop raises $30M Series A
Israeli startup raises $2m to develop the next-gen academy platform for Esports teams (EuropeanGaming.eu)
Kalam Labs raises $450K for its livestreaming platform for educational games (GamesBeat)
Seattle-based Starform raises $5 million to scale up ahead of game reveal (Gamasutra)
AviaGames raises $40M to diversify gaming
Hero Concept received investment from WePlay Ventures with a valuation of 3 Million Dollars

View Details

Raw Fury has agreed to a majority acquisition by Swedish investment group Altor. We spoke with Raw Fury founder Jonas Antonsson about the publisher’s growth, its path to acquisition, and how funding will accelerate new projects.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

View Details

The pandemic isn’t over, but as the world starts to reopen, gaming revenue starts to settle into a new normal. We discuss Take-Two, Nintendo, Sony, EA, Zynga, Sega, and Square Enix.

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:03:26] - Take Two
[00:18:42] - Nintendo
[00:39:33] - Sony
[00:44:41] - EA
[01:04:37] - Zynga
[01:21:06] - Sega Sammy
[01:24:40] - Square Enix

SOURCES

Take-Two FY22 Q1 Earnings
Nintendo FY22 Q1 Earnings
Sony FY22 Q1 Earnings
Sony doesn't view dip in PS Plus subscribers and PSN users as 'declining trend' (Gamasutra)
EA FY22 Q1 Earnings
SOC Renews Call for Say-on-Pay “No” Vote
Zynga FY22 Q2
Sega Sammy FY22 Q1
Square Enix FY22 Q1

View Details

Xsolla decided it would be a great idea to fire 150 people via email, publicly shame them, and then threaten its remaining staff. Also: the latest on Activision Blizzard, why indies aren’t immune from toxic environments, and more.

Content Warning: Sexual Harassment (Activision Blizzard) from 46:00 through 01:14:00

Content Warning: Toxic Work Environment (Fullbright) from 01:14:00 on

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:01:30] - Tencent shares tumble on Chinese state media careless remarks
[00:07:44] - Xsolla boss fires and publicly shames 150 employees by email
[00:13:20] - Investment Interlude
[00:32:28] - Quick Hits
[00:46:13] - An update on Activision Blizzard
[01:14:04] - Inside Fullbright’s toxic work environment

View Details

Activision Blizzard leadership continues to fail in its response to the California DFEH lawsuit and its own employees. Ubisoft employees are renewing their demands for change and a seat at the table. Also: Microsoft and Capcom earnings.

Content Warning: Sexual Harassment, Suicide from 00:51:39

You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!

TIME STAMPS

[00:02:42] - Microsoft FY21 Q4 Earnings
[00:13:18] - An update on Sony sales figures
[00:17:38] - Capcom FY22 Q1 Earnings
[00:26:24] - Investment Interlude
[00:34:47] - Quick Hits
[00:51:39] - Much has happened with the Activision Blizzard lawsuit since last week

SOURCES

Microsoft FY21 Q4 Earnings
PlayStation 5 Surpasses 10 Million Units Sold, Remains the Fastest Selling Console in Sony Interactive Entertainment History
Capcom FY22 Q1 Earnings
A Letter From CEO Bobby Kotick to All Employees
Activision Blizzard employees call leadership response to harassment suit ‘abhorrent and insulting’ (Polygon)
Inside Blizzard Developers’ Infamous Bill ‘Cosby Suite’ (Kotaku)
Fury, Worry, and Walkouts: Inside Activision Blizzard's Week of Reckoning (IGN)
Blizzard Recruiters Asked Hacker If She ‘Liked Being Penetrated’ at Job Fair (Vice)
Activision Blizzard Cancels Any Further All Hands Meetings, Prioritizes “Discussion Sessions” With No Mention of Walkout (Uppercut)
Activision Blizzard, Inc. (ATVI) Accused of Sexual Harassment Against Female Employees
Ubisoft workers demand company accountability in open letter (Axios)
Ubisoft CEO says 'important progress' has been made since 2020 harassment scandal (PCGamer)
Ubisoft group says Yves Guillemot has "sidelined" its demands as CEO responds to open letter (GamesIndustry)
Former Blizzard Developer and ArenaNet, Undead Labs Founder: "We Need Unionization" (IGN)

INVESTMENT INTERLUDE

South Korean game developer Krafton IPO to raise $3.75 bln (Reuters)
Jam City, Inc. and DPCM Capital, Inc. Mutually Agree to Terminate Business Combination Agreement
Horizon Blockchain Games Raises Funds From BITKRAFT and CMT Digital to Drive Web3 Adoption...

View Details

Activision Blizzard has perpetuated a culture of sexual harassment and pay discrimination for years, according to a lawsuit filed by the State of California. The company can’t seem to decide how to handle the suit with Blizzard and Activision Publishing leadership expressing shock and remorse while GOP corporate hires blast the suit and the state for standing up for non-male employees.

Content Warning: Sexual Harassment, Suicide from 55:00 to 01:42:00

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:01:45] - Tech Talk: A Quick Update on SWOLED and Gabe Gear
[00:07:40] - SOC (Formerly CtW) Urges EA Shareholders to Vote “No” on Say-on-Pay
[00:13:15] - Niko Partners Report on the Global Esports Market
[00:22:57] - Investment Interlude
[00:39:20] - Quick Hits
[00:55:30] - Activision Blizzard’s Culture of Harassment, Toxicity, and Pay Inequality
[01:42:13] - IGDA Issues Call to Action Regarding NFTs and Blockchain
[01:45:03] - Ubisoft Q1 FY22 Earnings

SOURCES

SOC (formerly CtW) asks EA shareholders to vote NO on Say-on-Pay
California DFEH v Activision Blizzard
Call to Action: Blockchain in Games
UBISOFT REPORTS FIRST-QUARTER 2021-22 SALES
French game workers union sues Ubisoft for 'institutional sexual harassment'
Niko Partners: Asia is 54% of the $1B global esports market (GamesBeat)

INVESTMENT INTERLUDE

Recommended Cash Acquisition of Sumo Group PLC
Tencent Takes Majority Stake in Stunlock Studios
Sketchfab is now part of Epic Games
Unity Acquires Interactive Data Visualization, Inc. (IDV), Creators of SpeedTree® Environment Creation Suite
Xsolla Launches Game Investment Platform
Games Publisher Tilting Point Raises $235M to Fuel Expansions and Acquisitions (The Hollywood Reporter)
Pipeline raises $2M to teach gamers how to stream for a living (GamesBeat)
Scopely invests $50 million in European game studios Omnidrone, Pixel Toys, and Tag Games

View Details

Big deals, new hardware, and a lot of platform chat fill our second episode this weekend. Highlights: Google’s pay-for-play plan, Sony drawing indie ire, Switch OLED, and the “Gabe Gear.”

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:01:20] - NPD for June 2021
[00:09:18] - Remedy and 505 renew their deal for more Control games
[00:15:29] - Konami signs development deals with Tencent and Bloober Team
[00:19:39] - Humble confirms permanent shifts to charity “sliders”
[00:26:32] - Stadia shifts partner payments to pay-for-play
[00:38:44] - Indies share grievances with Sony
[00:56:30] - Switch OLED and Steam Deck discussion

SOURCES

REMEDY SIGNS A CO-PUBLISHING AND DEVELOPMENT AGREEMENT WITH 505 GAMES FOR A MULTIPLAYER SPIN-OFF GAME OF THE AWARD-WINNING CONTROL
The strategic partnership of Konami Digital Entertainment and Bloober Team
Announcement of Business Alliance with Bloober Team S.A.
Stadia Keynote
Utah v. Google says Google Illegally Maintains an App Store Monopoly; Unfairly Edges Out Competition
A lawsuit that ignores choice on Android and Google Play
Changes Coming to Humble Bundle Sliders
Iain Garner on Twitter
Why Indie Publishers Are Fed Up With PlayStation (IGN)

View Details

We’re back and we missed you! In our first of two episodes this weekend, we’re covering a ton of acquisitions, investments, and quick hits. Highlights include: Sony’s spending blitz and a huge number of studio openings.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:03:37] - Investment Interlude
[00:32:44] - Quick Hits

SOURCES

GAMING GAMING INDUSTRY UPDATE (Drake Star Partners)
Take-Two Interactive Software Acquires Dynamixyz
Welcoming Housemarque to the PlayStation Studios family
KRAFTON, INC. ACQUIRES THINGSFLOW, AN INTERACTIVE CONTENT PRODUCTION FIRM
GameSquare Esports Announces Acquisition of Complexity and $8.5 Million Bought Deal Financing
Team17 Group plc - US $26.5 million acquisition of StoryToys
MTG acquires leading word games developer PlaySimple and discloses pro forma figures for its gaming vertical
SciPlay Acquires Casual Game Developer and Operator Koukoi Games Oy
Sentropy x Discord: A Safer Tomorrow
New Dedicated Roblox Developer Talewind Receives Investment From Top Games Angels
Dream Games raises $155M at a $1B valuation as its Royal Match puzzle game hits a royal flush (TechCrunch)
Drop Fake raises $9M to hit the reset button for gaming authenticity (GamesBeat)
Vela Games raises $17.3m in Series A funding (GamesIndustry)
VR studio Fast Travel Games raises over $4m (GamesIndustry)
Community Gaming Receives $2.3M in Seed Funding, Led by CoinFund, to Build Automated Esports Tournaments
Buzz Capital invests $594K to finance 2 game projects (GamesBeat)
Resolution Games Closes $25M Series C Funding Round

View Details

Revenge of Pax Pox (News Show): Activision shareholders narrowly approve Bobby Kotick’s pay package, while EA makes significant changes after last year’s failed Say on Pay vote. Also: PAX West returns without vaccination requirements, Microsoft details Windows 11.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:01:00] - Comparing Activision and EA executive compensation
[00:21:10] - Investment Interlude
[00:31:25] - Quick Hits
[00:41:15] - Listener Question
[00:51:10] - Windows 11 and Gaming
[00:56:16] - PAX West? PAX Pox.

SOURCES

Activision Blizzard pulls out a win on say-on-pay proposal that includes $150 million CEO pay package (MarketWatch)
Activision Notice of 2021 Annual Meeting of Shareholders and Proxy Statement
EA Notice of 2021 Annual Meeting and Proxy Statement
Windows 11: The Best Windows Ever for Gaming

INVESTMENT INTERLUDE

Electronic Arts Acquires Playdemic, Makers of the Highly Successful Golf Clash Mobile Game, From Warner Bros. Games and AT&TDaniel Ahmad on Twitter re Tencent/Yager
Azerion accelerates European Growth with major acquisition in Germany
Tencent takes over majority of the Berlin studio Yager (Games Wirtshaft)
GamerzClass closes $2.5M seed round bringing total to $4.2M (Esports Insider)
Rivalry raises $22m in funding round as IPO roadmap gathers pace (EGR)
GXC raises $4.73m in Series A funding (GamesIndustry)
Boom Corp. raises $1.8M to make social games like Boom Slingers (GamesBeat)
VRChat Partners with Anthos Capital to Close $80M Series D

View Details

That’s right! We’re talking about absurd executive compensation again! Also: Roblox is facing a $200 million music infringement suit, GameStop hires a new CEO, and EA pilots a new loot box as regulators scrutinize in-game monetization.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:01:37] - Insomniac proves you can make a great game without crunching
[00:05:50] - An update on allegations against Scavengers Studio
[00:10:00] - Roblox faces $200M music copyright infringement lawsuit
[00:14:25] - NPD Report for May 2021
[00:20:28] - Investment Interlude
[00:30:03] - Quick Hits
[00:42:04] - Activision delays Say on Pay vote, as CtW increases pressure
[00:48:34] - GameStop Q1 2021 Earnings
[00:52:54] - EA pilots more transparent loot boxes in FIFA Ultimate Team

SOURCES

Scavengers Studio creative director accused of belittling, screaming at, groping employees (GamesIndustry)
Scavengers Studio Official Statement Update
Roblox Hit With $200 Million-Plus Lawsuit by Music Publishers Alleging Unauthorized Song Use (Variety)
Roblox Responds to Music Publishers $200 Million Copyright-Infringement Lawsuit (Variety)
Hackers Steal Wealth of Data from Game Giant EA (Motherboard)
CtW letter to Activision Blizzard Shareholders (June 7, 2021)
Activision Blizzard Announces Results of Annual Meeting of Shareholders and Adjournment With Respect to Say-on-Pay Proposal
GameStop Releases First Quarter 2021 Financial Results
EA now lets you see what's in FIFA loot boxes before you buy them (Eurogamer)

INVESTMENT INTERLUDE

Voodoo acquires Bidshake to offer mobile games and apps marketers a next gen self-service growth automation platform
Immersive Group Gaming Platform, Electric Gamebox Raises $11 Million in Series A2
Mythical Games Announces $75 Million in Series B Financing, Unlocking a New Universal Gaming Economy With Playable NFTs
OTHERWORLD raises £2.9M to expand multi-sensory VR experience to new cities

View Details

It’s been a wild week of gaming announcements, with standout moments from large publishers and small indie teams. In our VE3 wrap-up, we discuss the trends that stand out and the biggest takeaways, including Game Pass, wholesome games, and whether The ESA needs to get out of the way.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

View Details

CD Projekt is feeling the pinch after Cyberpunk 2077’s disastrous launch. Also: Sony puts more shape around its console and PC strategy, Capcom under fire for alleged copyright infringement, and the first of our E3 2021 discussions.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:01:03] - CD Projekt is feeling the pinch of Cyberpunk 2077’s disastrous launch
[00:08:09] - Capcom is being sued by a photographer for copyright infringement
[00:17:39] - Sony’s Hermen Hulst provides an update on strategy and upcoming games
[00:26:56] - Investment Interlude
[00:38:07] - Quick Hits
[00:48:23] - Let the Summer Game Mess… BEGIN!

SOURCES

CD Projekt Earnings for Q1 FY2021
Artist says Capcom stole her photos for Resident Evil, Devil May Cry games in lawsuit (Polygon)
Hermen Hulst Q&A: What’s Next for PlayStation Studios
Itch.io - Indie Bundle for Palestinian Aid
E3 2020 pitch proposes overhaul with 'queuetainment,' new floor plan, industry-only day (GameDaily)

INVESTMENT INTERLUDE

Games One Game Unicorn Index
Drake Star Partners: Game deals have reached a record $49B in 2021 (GamesBeat)
Take-Two Interactive Software to Acquire Mobile Games Developer Nordeus
Unit 2 Games joins Facebook Gaming
Skillz to Acquire Aarki to Form First Integrated Esports Advertising Platform
TinyBuild has announced the acquihire of DogHelm and developer Matt Dabrowski
Chronicle raises $3.2M for fan-focused, NFT-based digital collectibles cards (Gamesbeat)
Quicksave Interactive has raised $1.3M for HTML5 social games (GamesBeat)
Snowed In Studios Creates Scarab Games to help Fortune 500 brands launch console and PC Games
Veloxia raises $3 million to expand beyond idle mobile games (GamesBeat)

View Details

Sony’s IR Day has revealed more of the company’s strategy, successes, and shortcomings. We also discuss the “SteamPal” report, PAX Online scaled back (and more realistic) pricing, updates on some stories from last week, and GameStop getting into NFTs. Ew.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:02:00] - Update on Take-Two and The Outer Worlds
[00:05:01] - Update on Netflix’s Gaming Ambitions
[00:06:55] - Update on Ubisoft’s Efforts to Fix its Workplace Culture
[00:14:34] - NPD Report for April 2021
[00:23:58] - Investment Interlude
[00:34:21] - Quick Hits
[00:52:31] - Sony Strategy Plans from its latest IR Day
[01:11:47] - PAX Online 2021 Pitch Deck Analysis

SOURCES

Microsoft will take charge of 'future iterations' of The Outer Worlds (Gamasutra)
Netflix's gaming expansion (Axios)
A Year of Change at Ubisoft
Virtual Economy Episode 38: The EVE Effect: Using games to find agile employees (with Tryggvi Hjaltason, CCP Games)
Sony Strategy Document - Game & Network Services Segment
SteamDB on Twitter re SteamPal (Codename Neptune) Portable Device
Exclusive: Valve is making a Switch-like portable gaming PC (Ars Technica)

INVESTMENT INTERLUDE

Zordix enters into an agreement to acquire Merge Games Ltd
Insomnia Gaming Festival Organiser 'Player1 Events' Acquired by Supernova Capital
Pathmatics Joins Sensor Tower to Empower the Next Generation of Digital Marketing Intelligence
Miniclip acquires leading UK studio, Supersonic Software Ltd and its subsidiary Appynation Ltd
TENCENT HOLDINGS ACQUIRES 3.8% OF SHARES IN REMEDY ENTERTAINMENT…
Virtuix Raises $19MM for 'Omni One' Virtual Reality Treadmill
FNATIC SECURES FUNDS TO DRIVE FURTHER GLOBAL GROWTH
Crystal Dynamics announces new Austin Studio
Double Loop Games raises $2.5 million to make mobile games for everyone (GamesBeat)
New social gaming platform Noice raises $5 million from Supercell, Unity and Remedy founders (PocketGamer)

View Details

The news of WarnerMedia’s merger with Discovery has left questions about WB Interactive. Some studios are reportedly staying with AT&T (which wants out of original content), and we don’t know yet if Discovery has any interest in staying in the games business. We could be looking at an M&A feeding frenzy for WBIE’s 11 owned studios in the coming months. Also: Take-Two and Embracer earnings, Twitch PR stumbles, and the last week of Epic v Apple.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:00:54] - Epic v Apple Week 3 Recap
[00:13:39] - Take-Two FY2021 Earnings
[00:30:46] - Embracer Group FY2021 Earnings
[00:38:58] - Investment Interlude
[00:53:35] - Quick Hits
[01:08:19] - Listener Question about Konami
[01:11:41] - Twitch and The Hot Tub Meta
[01:26:49] - Twitch Creator Tags
[01:33:47] - What’s going to happen to Warner Bros. Interactive?

SOURCES

Take-Two Earnings for FY2021
Embracer Group Earnings for FY2021
How the New Pools, Hot Tubs & Beaches Category will Work (Twitch)
Celebrate Yourself and Your Community with 350+ New Tags (Twitch)
What Does the WarnerMedia and Discovery Deal Mean For You? (IGN)

INVESTMENT INTERLUDE

Kasedo Games is now the majority shareholder in Bulwark Studios (MCV)
MADFINGER Games Secures €5 Million in Funding from Nuverse to Build the Future of Mobile Gaming
Bad Robot Games Announces $40+ Million Series B Raise…
Video Games publisher eyes £1bn London Listing (The Telegraph - Paywall)
Ex-Monolith VP Kevin Stephens starting new EA studio (GamesIndustry)
Leading Mobile Entertainment Company Jam City to Become Publicly Traded Company Through Merger with DPCM Capital, Inc.
FOCUS HOME INTERACTIVE Announces the Strong Success of Its Capital Increase for an Amount of €70.35 Million…
stillalive studios reveals its first subsidiary in Finland
Forte Raises $185M Series A at $1B Valuation Led by Griffin Gaming Partners

View Details

It’s our biggest earnings show ever, as we cover 12 different companies. Don’t worry, though. We’re also introducing Financial Quick Hits. Up this week: Paradox, Ubisoft, Digital Bros., Roblox, Starbreeze, Bandai Namco, Unity, Remedy, Konami, EA, Square Enix, Sega.

You can support Virtual Economy’s growth via our Ko-Fi at Ko-Fi.com/Virtual Economy.

TIME STAMPS

[00:01:00]: Paradox Earnings
[00:07:05]: Ubisoft Earnings
[00:16:55]: Financial Quick Hits
[00:38:45]: EA Earnings
[01:02:40]: Square Enix Earnings
[01:09:40]: Sega Sammy Earnings

SOURCES

Paradox Interim report January - March 2021
UBISOFT REPORTS FULL-YEAR 2020-21 EARNINGS FIGURES
Digital Bros. Q3 FY2021
ROBLOX REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS
Starbreeze Q1 FY2021
Bandai Namco FY2020 Financial Results
Unity Announces First Quarter 2021 Financial Results
Remedy Q1 2021 Business Review
Konami Consolidated Financial Results for the Year Ended March 31, 2021
Electronic Arts Reports Q4and FY21 Financial Results
Square Enix Financial Results Briefing Session - Year ended March 31, 2021
Sega Sammy Consolidated Financial Statements - Year ended March 31, 2021

View Details

Google is doing everything it can to convince developers not to give up on working with Stadia, but is it enough? Also: Epic v Apple Week 2, Gree exerts patent power in $100m court win, E3 Online starts to take shape, Embracer gobbles up four more studios, and more.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:00:57]: Epic v Apple Week 2
[00:11:20]: Gree v Supercell Ruling
[00:15:19]: Investment Interlude
[00:26:04]: Quick Hits
[00:42:35]: E3 Online Details
[00:49:17]: Google Stadia is “alive and well” — how’re you?

SOURCES

Supercell ordered to pay Gree $92m in lawsuit (GamesIndustry)
E3 2021 ONLINE PORTAL AND APP DETAILS OFFICIALLY REVEALED
Google says Stadia is "alive and well" (GamesIndustry)

INVESTMENT INTERLUDE

Sennheiser swiftly sells off beloved audiophile headphone business
EMBRACER GROUP ACQUIRES APPEAL STUDIOS, KAIKO, MASSIVE MINITEAM AND FRAME BREAK
Hidden Leaf Games raises $3.2 million on a MOBA gambit called Fangs (GamesBeat)
Former Epic and Blizzard Veterans Join Forces to Create Lightforge Games
Apptopia Raises $20 Million In Series C Funding To Source New Connected Device Data
Allstar raises $3.85M so gamers can share snackable game highlights (GamesBeat)
Krafton acquires game developer' Dream Motion'

View Details

It’s our first earnings show of the quarter! Activision posts record revenue, but Blizzard is bleeding users. Zynga posts its own record revenue, but also losses. Things are going pretty well at both Nintendo and Capcom, as both check in with huge jumps in revenue and profit.

You can support Virtual Economy’s growth via our Ko-Fi at Ko-Fi.com/VirtualEconomy.

TIME STAMPS

[00:01:39]: Activision Blizzard Q1 FY21 Earnings
[00:16:59]: Capcom FY20 Earnings
[00:29:20]: Zynga Q1 FY21 Earnings
[00:36:19]: Nintendo Q4/FY20 Earnings

SOURCES

Activision Q1 FY21 Earnings
Zynga Q1 FY21 Earnings
Nintendo Q4 / FY2020 Earnings
Capcom FY2020 Financial Results

View Details

Lawsuits are good for two things: making lawyers rich and learning about the super secretive game industry. We break down all of the interesting learnings from the court case. Also, Sony is facing a class action lawsuit over its digital game code policy, Tencent is negotiating to keep its US game investments, M&A Minute, and more.

You can support Virtual Economy’s growth via our Ko-Fi at ko-fi.com/virtualeconomy

TIME STAMPS

[00:01:28] — Epic V. Apple (Week 1)
[00:50:27] — M&A Minute
[00:53:35] — Quick Hits
[01:14:08] — Listener comment
[01:17:48] — Listener question
[01:25:30] — Tencent and the Committee for Financial Investment in the US

SOURCES

Apple takes its fight with Epic Games over the App Store to court (Washington Post)
Announcing PlayStation’s new Partnership with Discord
EXCLUSIVE China's Tencent in talks with U.S. to keep gaming investments -sources (Reuters)

M&A MINUTE

WELCOMING DOWNPOUR INTERACTIVE TO FACEBOOK
Electronic Arts Acquires Metalhead Software…
Zynga Enters Agreement to Acquire Chartboost
We raised a €150M credit line from Supercell – this is what it means for us.

View Details

The conversation around loot boxes is heating up again, with EA at the center. Also: Explaining the TriplePoint Video Game Stock Index, Sony and Microsoft earnings, and the GDC State of the Industry report.

You can support Virtual Economy’s growth via our Ko-Fi at Ko-Fi.com/VirtualEconomy.

TIME STAMPS

[00:01:49] - TriplePoint Video Game Stock Index
[00:11:10] - Microsoft Q3 FY21 Earnings
[00:18:26] - Sony Q4 GY20 Earnings
[00:25:36] - M&A Minute
[00:34:05] - Quick Hits
[00:53:52] - GDC State of the Industry Survey 2021
[01:17:38] - EA under fire again over Ultimate Team loot boxes

NEW WRITING FROM VIRTUAL ECONOMY

Explaining the TriplePoint Video Game Stock Index - Mike

SOURCES

Microsoft Earnings Release FY21 Q3
Sony FY2020 Earnings Announcement
GDC 2021 State of the Game Industry Report
Video game giant EA steering players into loot-box option in popular soccer game, insider says (CBC)
EA denies it's "pushing" FIFA players to spend on loot boxes after insider leaks marketing documents (Eurogamer)

M&A MINUTE

ArtStation is Now Part of Epic Games
Electronic Arts Completes Acquisition of Glu Mobile
Super.com announces a $3.5m investment in British Game Studio Bonsai Collective
Azerion raises €200 million in eye-catching expansion deal

View Details

CDProjekt shipped a broken Cyberpunk 2077, hoping that consumers would just… take it. Now, investors are upset and consumer sentiment is in the toilet. The financial impact? Not as bad as it could have been. Also: a flurry of Microsoft announcements, Epic’s game store expansion, and Humble’s step back from charity.

You can support Virtual Economy’s growth via our Ko-Fi at Ko-Fi.com/VirtualEconomy.

TIME STAMPS

[00:02:15] - Microsoft brings cloud gaming to iOS
[00:03:15] - ID@Azure launches this summer
[00:03:28] - The Windows Store is likely getting a makeover (with relaxed requirements for developers)
[00:06:55] - You no longer need Xbox Live for free-to-play games
[00:08:25] - An update on the Xbox controller drift lawsuit
[00:09:22] - Discord is reportedly off the market
[00:16:24] - Humble announces changes to charity giving
[00:30:00] - M&A Minute
[00:36:52] - Quick Hits
[00:53:21] - Epic Games Store adds App category and Itch.io
[00:58:41] - The fallout from Cyberpunk 2077’s return nightmare

NEW WRITING FROM VIRTUAL ECONOMY

CDProjekt’s Cyberpunk 2077 Failure Cost More Than Just Money (Mike)

SOURCES

Xbox Cloud Gaming for Windows 10 PC and Apple Phones and Tablets Begin as Limited Beta for Xbox Game Pass Ultimate Members
Microsoft Announces ID@Azure (Thurrott)
Microsoft is building a new app store for Windows 10 in major revitalization effort (Windows Central)
Online Multiplayer for Free-to-Play Games Unlocked Starting Today
Xbox drift law firm explains why it’s buying people’s controllers (The Loadout)
Discord Ends Deal Talks With Microsoft (WSJ)
A note about sliders and our bundle pages
Epic Games Store Adds More PC Apps!
CD Projekt FY 2020 Financial Results

M&A MINUTE

Global Video Game Investment Activity Report Q1 2021 (Investgame)
WELCOME PCF CHICAGO!
FOCUS HOME INTERACTIVE accelerates its development with the acquisition of Streum On Studio, long-standing partner of the Group
Acquisition of Climax Studios Ltd
Lightheart Entertainment raises $6.8M in Series A funding
AUSTRALIA’S LARGEST INDEPENDENT GAMES DEVELOPER MIGHTY KINGDOM SET FOR ASX LISTING

View Details

Apple wants the court to believe Epic is hemorrhaging money, but cherry-picked legal filings don’t tell the whole story. Also: NPD report for March 2021, Activision at War with Warzone.com, the latest stats for all the major streaming platforms, M&A minute, and more.

You can support Virtual Economy’s growth via our Ko-Fi at Ko-Fi.com/Virtual Economy.

TIME STAMPS

[00:01:16] - Activision vs. Warzone.com Trademark Dispute
[00:14:49] - NPD Report for March 2021
[00:25:13] - M&A Minute
[00:28:24] - Quick Hits
[00:42:44] - The State of Live Streaming (Data)
[00:50:27] - Epic Games Store Investment and Reframing How we Define Success

NEW WRITING FROM VIRTUAL ECONOMY

Epic’s Game Store ‘Losses’ Don’t Tell the Whole Story - Mike

SOURCES

Activision Publishing v Warzone.com
DEFENDANT APPLE INC.’S PROPOSED FINDINGS OF FACT AND CONCLUSIONS OF LAW
FINDINGS OF FACT AND CONCLUSIONS OF LAW PROPOSED BY EPIC GAMES, INC.
Announcing a $1 Billion Funding Round to Support Epic’s Long-Term Vision for the Metaverse

M&A MINUTE

ByteDance games division acquires Chinese developer C4games (GamesIndustry)
The Games Fund Launches to Connect Investors to Established and Emerging Games Markets
AppLovin prices IPO at $80 a share, to raise $2 billion (Marketwatch)
PUBG parent Krafton applies for IPO (GamesIndustry)

View Details

Discord and Twitch are both grappling with the responsibility to keep their platforms safe after usership jumped during the pandemic. Also: 505 Games earnings (and Death Stranding’s strong PC performance), E3’s thin roster, and Nexus.gg’s creator-curated marketplaces.

TIME STAMPS

[00:01:21] - E3 2021 plans start to emerge
[00:07:43] - Nexus.gg teams up with Path of Exile for creature curated micro transactions
[00:13:35] - M&A Minute
[00:24:43] - Quick Hits
[00:36:14] - Digital Bros earnings
[00:39:53] - Twitch details new off-platform Trust & Safety enforcement
[00:47:16] - Discord’s latest Trust & Safety transparency report is a deep data dive

NEW WRITING FROM VIRTUAL ECONOMY

CD Projekt’s Pretty Words are Nothing Without Meaningful Culture Change - Manda

SOURCES

E3 is going digital this summer, will return in person next year (Verge)
Support Creators by Purchasing Armour Sets on Nexus (Grinding Gear Games)
Digital Bros Half Year Financial Report at December 31st, 2020
Discord Transparency Report: July — Dec 2020

M&A MINUTE

Ubisoft acquires anti-cheat software developer GameBlocks (Gamasutra)
EMBRACER GROUP COMPLETES THE ACQUISITIONS OF ASPYR, EASYBRAIN AND GEARBOX ENTERTAINMENT
Play Ventures’ US$135M Fund II To Power Future Unicorns of Gaming
Tripledot Studios raises $78 million (GamesIndustry)
PLLAY Secures Additional $1 million in Funding
Grid secures $10m in Series A funding (GamesIndustry)

View Details

Microsoft made waves with a big Game Pass announcement that has rankled some consumers. Also: Sony’s storefront closures, Activision’s right-wing hires, CD Projekt changes course, E3’s failed attempt to get member publishers to agree to paywalled content, and PAX Online replaces PAX East (and what must happened to fix last year’s failure).

TIME STAMPS

[00:00:53] - Following up on Sony’s decision around PS3, PSP, and Vita storefronts
[00:12:25] - MLB The Show 21 is on Game Pass on Opening Day
[00:25:52] - CD Projekt Red’s strategic overhaul
[00:38:46] - M&A Minute
[00:44:15] - Quick Hits
[00:49:23] - Activision’s Right-Wing Hires
[00:54:46] - E3 2021 is most definitely digital
[01:01:25] - PAX East is canceled and PAX Online returns

NEW WRITING FROM VIRTUAL ECONOMY

What PAX Online Must Improve in its Second Year - Mike

SOURCES

MLB The Show 21 is Coming to Xbox Game Pass on Day One
Activision Blizzard Appoints Company Veteran Armin Zerza as Chief Financial Officer
Activision Blizzard Hires Former Trump Administration Member Once Decried As ‘Bully’ (Kotaku)
E3’s 2021 digital event could be partially behind a paywall (VGC)
PAX East ‘21 Update

M&A Minute

Nexon Discloses Investments in Hasbro, BANDAI NAMCO, KONAMI and SEGA SAMMY
Nordisk Games invests in award-winning UK studio Supermassive Games
Graffiti Games raises $1.5 million for indie game publishing (GamesBeat)
505 Games purchases Ghostrunner IP from All in! Games for 5M euros

View Details

Multiple reports put Discord in talks with Microsoft and others. We also review GameStop’s earnings, Sony’s stunning silence on a report that it’s closing three digital storefronts, Majesco’s return to retail, and more.

TIME STAMPS

[00:02:18] - Sony is reportedly set to shutdown PS3, PSP, and Vita digital storefronts
[00:09:23] - Sony staffing reorganization
[00:11:52] - M&A Minute(s)
[00:20:04] - Quick Hits
[00:33:26] - Majesco returns to retail
[00:37:13] - Razer earnings
[00:42:46] - GameStop Earnings
[00:59:13] - Discord is reportedly looking for a buyer (and may have found one)

NEW WRITING FROM VIRTUAL ECONOMY

Discord Wants to Tie the $10 Billion Knot, But Which Suitor is Best? - Mike
Beyond Tom Nook: Reflecting on Animal Crossing One Year Later - Manda

SOURCES

Report: PS3, Vita, And PSP Stores To Be Permanently Closed In A Few Months (TheGamer)
Sony Interactive Entertainment Announces New Engineering and Finance Leadership (SIE Blog)
Discord exploring sale that could be worth more than $10 billion (GamesBeat)
Razer FY 2020 Investor Presentation
GameStop Reports Fourth Quarter and Fiscal 2020 Results
Microsoft in Talks to Buy Discord for More Than $10 Billion (Bloomberg - Paywall)
Microsoft Is in Exclusive Talks to Acquire Discord (WSJ)

M&A Minute

ByteDance acquires gaming studio Moonton at around $4 billion valuation: sources (Reuters)
2K and Visual Concepts Acquire HookBang Game Division
MTG acquires leading tower defense gaming studio and publisher Ninja Kiwi, the maker of Bloons
Amazon Games Opens Development Studio in Montreal (Amazon Games)
STUDIO'S ROOTS AND ACTIVITIES (Ashborne Games)
Mobile monetization firm IronSource will go public through SPAC at $11.1 billion valuation (GamesBeat)
Social gaming platform Rec Room raises $100M at $1.25B valuation (GamesBeat)
HiDef raises $9m for metaverse project (GamesIndustry)
Frost Giant Studios raises $5 million (GamesIndustry)

View Details

Activision is posting record quarters. Its CEO has been awarded approximately $200 million in bonuses. The company just laid off at least 50 people in the middle of a pandemic. Also: EA’s FIFA Ultimate Team problem, Riot’s CEO cleared of harassment allegations, a ton of M&A news, and more.

TIME STAMPS

[00:01:52] - Microsoft and Bethesda close $7.5B deal with comments on the future
[00:11:50] - Sony becomes co-owner of EVO fighting game competition
[00:15:29] - 2K Games acquires PGA dev HB Studios, signs deal with Tiger Woods
[00:16:10] - Epic acquires Capturing Reality
[00:16:42] - Zombies, Run dev Six to Start acquired by OliveX
[00:17:21] - Super League Gaming to acquire Mobcrush
[00:19:55] - Keywords Studios purchases majority stake in Tantalus Media
[00:20:34] - THQ Nordic incorporates new studio for Gothic Remake
[00:22:13] - Embracer Group stuffs war chest for acquisitions
[00:22:57] - Jade Raymond’s new studio with backing from Sony
[00:24:00] - Omeda gets investment to reboot Epic’s Paragon
[00:26:05] - TinyBuild goes public
[00:26:22] - Rogue raises Series A funding
[00:26:45] - Overwolf raises Series C funding
[00:27:57] - My.Games invests in Espresso Publishing
[00:28:15] - Ubitus gets investments from big industry players
[00:28:47] - Incredibuild raises $140 million from a single investor
[00:29:54] - Roblox finally goes public
[00:30:29] - Quick Hits
[00:51:45] - Activision Blizzard lays off during a pandemic amid record earnings
[01:05:32] - Riot clears CEO of harassment allegations
[01:10:06] - Loot Boxes under fire as Germany cracks down and EA staff go rogue

SOURCES

Merger, Acquisition, and Investment Stories

Officially Welcoming Bethesda to Team Xbox (Xbox Wire) - https://news.xbox.com/en-us/2021/03/09/officially-welcoming-bethesda-to-the-xbox-family/
Welcoming Evo into the PlayStation Family: https://www.sie.com/en/blog/welcoming-evo-into-the-playstation-family/
Tiger Woods Inks Long-Term Exclusive Deal with 2K: https://www.businesswire.com/news/home/20210316005275/en/Tiger-Woods-Inks-Long-Term-Exclusive-Deal-with-2K
Epic has acquired Capturing Reality - https://www.epicgames.com/site/en-US/news/capturing-reality-is-now-part-of-epic-games?sessionInvalidated=true
Zombies, Run dev Six to Start acquired for $9.5m (GamesIndustry) - https://www.gamesindustry.biz/articles/2021-03-08-zombies-run-dev-six-to-start-acquired-for-usd9-5m
Super League Gaming to Acquire Mobcrush - https://www.globenewswire.com/news-release/2021/03/11/2191124/0/en/Super-League-Gaming-to-Acquire-Mobcrush.html
Keywords Studios Enters Australia with acquisition of 85% interest in Tantalus Media Pty Ltd: https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=31716382&company=keywords
Alkimia Interactive to develop Gothic Remake (THQ Nordic): https://www.thqnordic.com/article/alkimia-interactive-develop-gothic-remake
Introducing Haven, a new Montreal-based independent studio: https://blog.playstation.com/2021/03/16/introducing-haven-a-new-montreal-based-independent-studio/#sf243985526
Omeda raises $2.2M to relaunch Epic’s dead Paragon as Predecessor (GamesBeat) - https://venturebeat.com/2021/03/09/omeda-raises-2-2m-to-relaunch-epics-paragon-as-predecessor/
London Stock Exchange welcomes tinyBuild Inc. to AIM - https://www.londonstockexchange.com/discover/news-and-insights/london-stock-exchange-welcomes-tinybuild-aim?lang=en
Rogue raises $2.5m in Series A funding (GamesIndustry) - https://www.gamesindustry.biz/articles/2021-03-10-rogue-raises-usd2-5m-in-series-a-funding
Announcing our $52.5M Series C and What is Next for the In-Game Creator Economy (Overwolf): https://medium.com/overwolf/announcing-our-series-c-and-what-is-next-for-the-in-game-creator-economy-693bedd4c01c
Embracer Group Issues New Shares: https://embracer.com/release/embracer-group-successfully-completed-a-directed-issue-of-36000000-new-b-shares-raising-proceeds-of-roughly-sek-7-6-billion-approximately-usd-890-million/
MY.GAMES INVESTS IN ESPRESSO PUBLISHING TO BOOST ITS HYPERCASUAL DIVISION: https://my.games/en/news/105
Ubitus usher in the cloud game era - http://www.ubitus.net/en/release/en20210317.html
Incredibuild gets $140M to speed up games and other software development with distributed processing tech (TechCrunch): https://techcrunch.com/2021/03/17/incredibuild-gets-140m-to-speed-up-games-and-other-software-development-with-distributed-processing-tech/

General News Stories

Activision Blizzard Esports Restructuring, 50 Employees Face Layoffs (The Esports Observer): https://esportsobserver.com/abe-restructure-layoffs/
Sources: Alienware terminates League of Legends global sponsorship following sexual harassment allegations against Riot Games CEO (Dot Esports): https://dotesports.com/news/sources-alienware-terminates-lol-global-sponsorship-allegations-riot-ceo
Riot Games board finds no wrongdoing by CEO Nicolo Laurent, denies misconduct allegations in new court filing (Washington Post / Launcher): https://www.washingtonpost.com/video-games/2021/03/16/nicolo-laurent-lawsuit-riot-games/
Loot boxes to generate $20bn by 2025 (GamesIndustry) - https://www.gamesindustry.biz/articles/2021-03-09-loot-boxes-to-generate-usd20bn-by-2025
German legal reform to set new standards for loot boxes (GamesIndustry) - https://www.gamesindustry.biz/articles/2021-03-09-german-legal-reform-poses-new-threat-to-loot-boxes
EA investigating allegations of staff selling rare FUT cards - https://twitter.com/EASPORTSFIFA/status/1369761277636005888?s=20
AN UPDATE ON OUR PLAYER ITEM INVESTIGATION: https://www.ea.com/games/fifa/pitch-notes/news/fifa-21-player-item-investigation-update?isLocalized=true

View Details

The legal fight between Frogwares and Nacon over The Sinking City is getting ugly with allegations of theft and hacking. Also: Reports of the mythical Switch Pro resurface, Epic adds another family-friendly game to its roster, Twitch releases its first transparency report, more.

TIME STAMPS

[00:00:45] - Epic purchases Fall Guys maker Tonic Games
[00:05:30] - Zynga acquires Torchlight III developer Echtra Games
[00:07:13] - Sony Interactive announces partnerships to support Black community
[00:08:48] - Twitch’s first transparency report
[00:17:33] - Quick Hits
[00:30:47] - Los Angeles confirms E3 2021 will not be a live event
[00:34:09] - EA delays Need for Speed to support Battlefield, also a win in court
[00:40:33] - New details about the rumored Switch Pro surface
[00:47:24] - Frogwares and Nacon’s legal fight gets messier

SOURCES

Tonic Games Group, Makers of 'Fall Guys', Joins Epic Games (Epic): https://www.epicgames.com/site/en-US/news/tonic-games-group-makers-of-fall-guys-joins-epic-games
MEDIATONIC JOINS THE EPIC GAMES FAMILY (Mediatonic): https://www.mediatonicgames.com/blog/mediatonic-joins-the-epic-games-family
Zynga acquires Diablo co-creator’s Echtra Games in expansion to PC and consoles (GamesBeat): https://venturebeat.com/2021/03/03/zynga-acquires-diablo-co-creators-echtra-games-in-expansion-to-pc-and-consoles/
Sony Interactive Entertainment Announces Strategic Partnerships to Support Black Communities (SIE): https://www.sie.com/en/blog/sony-interactive-entertainment-announces-strategic-partnerships-to-support-black-communities/
Transparency Report 2020 (Twitch): https://www.twitch.tv/p/en/legal/transparency-report/
City of Los Angeles Department of Convention & Tourism Development Special Board Meeting Packet: https://ctd.lacity.org/sites/default/files/03-03-21%20Special%20Board%20Meeting%20Packet.pdf
A Bold Move For Battlefield (EA): https://www.ea.com/news/a-bold-move-for-battlefield
Nintendo Plans Switch Model With Bigger Samsung OLED Display (Bloomberg): https://www.bloomberg.com/news/articles/2021-03-04/nintendo-plans-switch-model-with-bigger-samsung-oled-display
Statement about the Steam release of The Sinking City (Steam): https://store.steampowered.com/news/app/750130/view/3058478454630446188
How Nacon Cracked and Pirated The Sinking City (Frogwares): https://frogwares.com/how-nacon-cracked-and-pirated-the-sinking-city/

View Details

Reports on the Stadia project’s inner workings are pouring out, revealing gears rusted with dysfunction. Also: EA cancels Anthem Next (but may have saved Dragon Age in the process), GameStop loses its CFO (but awards him a massive severance), Apple scores a win in court, Sony reorganizes its legendary Japan Studio, and a class-action suit threatens Microsoft’s acquisition of Bethesda.

TIME STAMPS

[00:00:55] - Stadia’s leadership and strange business decisions
[00:25:36] - GameStop CFO resigns, shareholder war ongoing
[00:34:28] - Apple wins in court, Valve has to turn over data
[00:38:49] - Quick Hits
[00:57:10] - Call of Duty Mobile player murdered in Brazil
[00:59:56] - Paradox earnings and Vampire: the Masquerade Bloodlines 2 news
[01:11:07] - Anthem Next canceled (and other EA news)
[01:17:08] - Bethesda faces class action lawsuit over Fallout 4 Season Pass
[01:25:49] - Report on Techland’s mismanagement
[01:31:24] - Sony: PSVR2, State of Play, Japan Studio, and more

SOURCES

Stadia's 4K gaming claims come back to haunt it in class-action lawsuit (PCGamer): https://www.pcgamer.com/stadias-4k-gaming-claims-come-back-to-haunt-it-in-class-action-lawsuit/
Jacqueline Shepherd vs. Google: https://www.classaction.org/media/shepherd-v-google-llc-et-al.pdf
Google’s Stadia Problem? A Video Game Unit That’s Not Googley Enough (Bloomberg): https://www.bloomberg.com/news/articles/2021-02-26/google-video-game-unit-stadia-struggled-to-be-googley-enough
GameStop Announces Resignation of CFO and Succession Plan to Support Transformation: https://www.globenewswire.com/news-release/2021/02/23/2180940/0/en/GameStop-Announces-Resignation-of-CFO-and-Succession-Plan-to-Support-Transformation.html
GameStop SEC Filing re Jim Bell departure: https://news.gamestop.com/static-files/a9ccb1fc-1c3b-4059-b187-7f545c151558
GameStop: How a 2020 Shareholder Coup Could Transform the Company Forever (IGN): https://www.ign.com/articles/gamestop-how-a-2020-shareholder-coup-could-transform-the-company-forever
Valve Ordered to Give Apple Information on 436 Steam Games As Part of Epic Games Legal Case (MacRumors): https://www.macrumors.com/2021/02/25/valve-apple-data-request-for-epic-games-case/
COD: Player Sol is murdered in São Paulo (ESPN): https://www.espn.com.br/esports/artigo/_/id/8230747/cod-jogadora-sol-e-assassinada-em-sao-paulo
Paradox Year-End Report 2020: https://www.paradoxinteractive.com/en/year-end-report-2020/
Vampire: The Masquerade Bloodlines 2 Update: https://www.bloodlines2.com/en/bloodlines-2-development-update
Anthem Update (BioWare): https://blog.bioware.com/2021/02/24/anthem-update/
Electronic Arts Removes Multiplayer Mode From Dragon Age Game in Big Pivot (Bloomberg): https://www.bloomberg.com/news/articles/2021-02-25/electronic-arts-pivots-on-dragon-age-game-removes-multiplayer
Bethesda faces broad class-action lawsuit over Fallout 4 DLC as Microsoft takeover looms (GamesBeat): https://venturebeat.com/2021/02/23/bethesda-faces-broad-class-action-lawsuit-over-fallout-4-dlc-as-microsoft-takeover-looms/
Tony Hawk’s Pro Skater 1 + 2 Upgrade and Purchase FAQ: https://support.activision.com/tony-hawks-pro-skater-1-2/articles/tony-hawks-pro-skater-1-2-upgrade-and-purchase-faq
Report: Techland Is Bleeding Talent Due To Autocratic Management, Bad Feedback, And Lack Of Direction (TheGamer): https://www.thegamer.com/techland-report-bleeding-talent-autocratic-management-bad-feedback/
Play At Home returns: Four months of offers for PlayStation games and entertainment begin March 1 (PlayStation Blog): https://blog.playstation.com/2021/02/23/play-at-home-returns-four-months-of-offers-for-playstation-games-and-entertainment-begin-march-1/
Introducing the next generation of VR on PlayStation (PlayStation Blog): https://blog.playstation.com/2021/02/23/introducing-the-next-generation-of-vr-on-playstation/#sf243317607
PlayStation’s Jim Ryan: ‘We’re making a completely new VR format for PS5’ (GQ): https://www.gq-magazine.co.uk/culture/article/playstation-vr-jim-ryan-interview-2021
Sources: PlayStation is winding down Sony Japan Studio (VGC): https://www.videogameschronicle.com/news/sources-playstation-is-winding-down-sony-japan-studio/
Bloodborne Producer Masaaki Yamagiwa Is Leaving Sony (Kotaku): https://kotaku.com/bloodborne-producer-masaaki-yamagiwa-is-leaving-sony-1846352378

View Details

Keith Gill, better known as WallStreetBets’ “DeepF*ingValue” and “RoaringKitty”, testified before congress and has been sued by angry GameStonk investors. We also discuss Phil Harrison’s failed leadership and purposely misleading Stadia developers, Microsoft’s enhanced accessibility offerings, Starbreeze’s turnaround, and Apple trying to rope Valve into its defense.

TIME STAMPS

[00:00:35] - PS5 DualSense Class Action Suit
[00:02:35] - GDC is going completely online in 2021
[00:08:15] - Keith “DeepF*ingValue” Gill sued for his role in the GameStonk event
[00:30:32] - Microsoft stories (Accessibility, Cloud Gaming, and FPS Boost)
[00:34:28] - Starbreeze completes its financial and organizational reconstruction
[00:43:22] - Quick Hits
[01:07:22] - Bungie expands and announces work on a new IP
[01:13:15] - Update on Epic lawsuit and news about Fortnite’s Short Nite film event
[01:17:50] - Remedy’s very good earnings report
[01:19:36] - Nintendo Direct takeaways
[01:29:56] - Phil Harrison gaslit Stadia developers

SOURCES

Law firm files PS5 DualSense drift class action against Sony (Eurogamer): https://www.eurogamer.net/articles/2021-02-13-law-firm-files-ps5-dualsense-drift-class-action-against-sony
A New Approach To 2021 With A Family Of GDC Events And More!: https://gdconf.com/news/new-approach-2021-family-gdc-events-and-more
‘Roaring Kitty’ Reddit investor sued over role in GameStop stock surge (Polygon): https://www.polygon.com/2021/2/17/22287804/gamestop-stock-price-lawsuit-roaring-kitty-reddit-robinhood
Making Backward Compatible Games Even Better with FPS Boost: https://news.xbox.com/en-us/2021/02/17/making-backward-compatible-games-even-better-with-fps-boost/
Microsoft starts testing Xbox cloud gaming on the web (Engadget): https://www.engadget.com/microsoft-cloud-gaming-test-on-web-154258542.html
Microsoft will test Xbox and PC games to help make them more accessible: https://news.xbox.com/en-us/2021/02/16/xbox-accessibility-guidelines-and-testing/
STARBREEZE AB (PUBL) INTERIM REPORT Q4 2020: https://www.starbreeze.com/2021/02/starbreeze-ab-publ-interim-report-q4-2020/ | https://www.starbreeze.com/sbz-media/2021/02/Starbreeze-Interim-Report-Q4-2020.pdf
IGDA Foundation Diverse Game Developers Fund Applications: https://igdafoundation.org/diverse-game-developers-fund/
Bungie Prepares for Future Growth in 2021 with Studio Expansion, Key Talent Investments, and New Board Members: https://www.businesswire.com/news/home/20210218005230/en/Bungie-Prepares-for-Future-Growth-in-2021-with-Studio-Expansion-Key-Talent-Investments-and-New-Board-Members
Epic Game Files EU Antitrust Complaint Against Apple: https://www.epicgames.com/site/en-US/news/epic-games-files-eu-antitrust-complaint-against-apple
Apple subpoenas Valve as part of its legal battle with Epic: Valve fights back (PC Gamer): https://www.pcgamer.com/apple-subpoenas-valve-as-part-of-its-legal-battle-with-epic-valve-fights-back/
Big Tech’s Unlikely Next Battleground: North Dakota (New York Times): https://www.nytimes.com/2021/02/14/technology/north-dakota-tech-apps.html
Fortnite Debuts “Short Nite” Film Festival in Party Royale: https://www.epicgames.com/site/en-US/news/fortnite-debuts-short-nite-film-festival-in-party-royale
Remedy Full Year 2020 Financial Statements: https://investors.remedygames.com/app/uploads/2021/02/financial-statements-release-1.1.31.12.2020.pdf
Stadia Leadership Praised Development Studios For 'Great Progress' Just One Week Before Laying Them All Off (Kotaku): https://kotaku.com/stadia-leadership-praised-development-studios-for-great-1846281384

View Details

In our second earnings show of the quarter, we’re breaking down Bandai Namco, Take-Two, Zynga, Sega Sammy, and Ubisoft.

TIME STAMPS

[00:01:07] - Bandai Namco
[00:12:26] - Take-Two
[00:24:03] - Zynga
[00:36:41] - Sega Sammy
[00:41:59] - Ubisoft

SOURCES

Bandai Namco Q3 FY2021: https://www.bandainamco.co.jp/cgi-bin/releases/index.cgi/en/press/10157?entry_id=7066
Take-Two Interactive Q3 FY2021: https://ir.take2games.com/news-releases/news-release-details/take-two-interactive-software-inc-reports-strong-results-17?field_nir_news_date_value[min]=
Zynga Q4 and Full Year 2020: https://investor.zynga.com/news-releases/news-release-details/zynga-announces-fourth-quarter-and-full-year-2020-financial
Zynga Earnings Call Transcripts: https://seekingalpha.com/article/4405098-zyngas-znga-ceo-frank-gibeau-on-q4-2020-results-earnings-call-transcript
Sega Sammy Q3 FY 2021: https://www.segasammy.co.jp/english/ir/library/pdf/settlement/2021/202103_3q_tanshin_20210212_e.pdf
Ubisoft Q3 FY 2021: https://ubistatic19-a.akamaihd.net/comsite_common/en-US/images/pressrelease_downloadablemm_20210209_045708_ubisoftfy21q3salesenglish_tcm99-364342_tcm99-196733-32.pdf

View Details

With the pandemic still hanging on, a new report corroborates and expands on news we broke in December: E3 is going digital (and it won’t be cheap). Also: EA buys Glu Mobile, Epic scores Kingdom Hearts, CD Projekt hit with a ransomware attack, NPD for January 2021, and more.

TIME STAMPS

[00:01:07] - Skybound is partnering with Striking Distance Studios
[00:07:02] - After being locked out of Google accounts, Terraria dev cancels Stadia port
[00:16:07] - Epic Games settles with teen cheater and EGS news
[00:22:25] - CD Projekt ransomware attack
[00:28:54] - Quick Hits
[00:40:41] - SAG-AFTRA approves influencer contract
[00:45:43] - Riot sued over CEO’s alleged misconduct and harassment
[00:50:42] - EA purchases Glu to bolster mobile portfolio and talent
[00:54:17] - NPD Report for January 2021
[01:01:29] - E3 is going digital

SOURCES

Skybound Entertainment Partners With Striking Distance Studios on Upcoming Survival Horror Game The Callisto Protocol: https://www.businesswire.com/news/home/20210209005433/en/
Andrew Spinks on Twitter: https://twitter.com/Demilogic/status/1358661840402845696?s=20
Epic Games Ends Fight With Teen Over Fortnite Cheat Codes (Law360): https://www.law360.com/ip/articles/1353296/epic-games-ends-fight-with-teen-over-fortnite-cheat-codes-?nl_pk=73c14053-a66c-4f92-a446-aa4ed6d290d1&utm_source=newsletter&utm_medium=email&utm_campaign=ip
CD Projekt on Twitter: https://twitter.com/CDPROJEKTRED/status/1359048125403590660?s=20
Niantic’s Black Developers Initiative: https://nianticlabs.com/beyond-reality/black-developers-initiative/
Safe in Our World Community Developer Training: https://forms.monday.com/forms/8aaaa04a6935c351ad15811a818aba26?r=use1
Riot Games CEO Sued for Sexual Harassment By His Former Assistant (Vice): https://www.vice.com/en/article/g5b3zm/riot-games-ceo-sued-for-sexual-discrimination-by-his-assistant
Electronic Arts to Acquire Glu Mobile, Creating a New Global Leader in the Largest and Fastest Growing Gaming Segment: https://www.businesswire.com/news/home/20210208005854/en/Electronic-Arts-to-Acquire-Glu-Mobile-Creating-a-New-Global-Leader-in-the-Largest-and-Fastest-Growing-Gaming-Segment
EA's Andrew Wilson talks about the Glu acquisition (GamesIndustry): https://www.gamesindustry.biz/articles/2021-02-09-andrew-wilson-glu-interview
Virtual Economy Episode 61 re E3 2021 digital plans and PAX Online problems: http://virtualeconcast.com/podcast/episode-61-biowares-leadership-shakeup-and-paxs-live-event-optimism-news-show/
E3 pushes forward with plans for a digital 2021 event (VGC): https://www.videogameschronicle.com/news/e3-pushes-forward-with-plans-for-a-digital-2021-event/
SAG-AFTRA Approves New Influencer Agreement (Backstage): https://www.backstage.com/magazine/article/sag-aftra-approves-new-influencer-agreement-72636/

View Details

It’s financial reporting season again! We’re breaking down Square Enix, Activision Blizzard, Sony, Unity, EA, and Nintendo. The game industry has thrived during the pandemic, but can it last?

TIME STAMPS

[00:01:57] - Square Enix
[00:09:39] - Activision Blizzard
[00:21:30] - Sony
[00:31:44] - Unity
[00:36:37] - EA
[00:53:27] - Nintendo

SOURCES

Financial Results Briefing Session (Square Enix): https://www.hd.square-enix.com/eng/ir/pdf/21q3slides.pdf
ACTIVISION BLIZZARD ANNOUNCES FOURTH-QUARTER AND 2020 FINANCIAL RESULTS: https://investor.activision.com/static-files/0a027e58-e3cd-445e-9e38-fd27f34775af
Q3 FY2020 Consolidated Financial Results (Sony): https://www.sony.net/SonyInfo/IR/library/presen/er/pdf/20q3_sonypre.pdf
Unity Announces Fourth Quarter and Full Year 2020 Financial Results: https://investors.unity.com/news/news-details/2021/Unity-Announces-Fourth-Quarter-and-Full-Year-2020-Financial-Results/default.aspx
EA Earnings Release for Q3 Fiscal 2021: https://s22.q4cdn.com/894350492/files/doc_financials/2021/q3/Q3-FY21-Earnings-Release-Final.pdf
EA Prepared Remarks for Q3 Fiscal 2021: https://s22.q4cdn.com/894350492/files/doc_financials/2021/q3/Q3-FY21-Prepared-Remarks-Final.pdf
EA Sports is making a new college football video game (Polygon): https://www.polygon.com/2021/2/2/22262449/ea-sports-college-football-ncaa-players
Nintendo Consolidated Results for the Nine Months Ended December 31, 2019 and 2020: https://www.nintendo.co.jp/ir/pdf/2021/210201e.pdf
Nintendo Switch + AC New Horizons attach rate: https://twitter.com/MatPiscatella/status/1356288101803454464?s=20

View Details

With the news that Stadia’s first-party development is kaput, we discuss what may lie ahead for Google’s gaming aspirations. Also: WB’s Nemesis system patent, the Gearbox acquisition, Kowloon Nights’ indie funding blitz, and a little bit more GameStonk news.

TIME STAMPS

[00:01:00] - Warner Bros. frustrates development community with Nemesis system patent
[00:17:15] - Valve sued for using pricing demands to maintain market dominance
[00:27:08] - Activision sued for allegedly plagiarizing character for Call of Duty
[00:30:21] - Kowloon Nights announces funding for 23 studios
[00:40:32] - Quick Hits
[00:47:50] - Steam Game Festival
[01:00:20] - GameStonk Update
[01:04:50] - Embracer snaps up Gearbox (and more)
[01:07:30] - Alas, poor Stadia

SOURCES

Nemesis characters, nemesis forts, social vendettas and followers in computer games (Google Patents): https://patents.google.com/patent/US20160279522A1/en
How the Nemesis System Creates Stories (Game Maker’s Toolkit): https://www.youtube.com/watch?v=Lm_AzK27mZY&feature=emb_title
Popular Gaming Platform Accused of Abusing Market Power Through Contracts (The Hollywood Reporter): https://www.hollywoodreporter.com/thr-esq/popular-gaming-platform-accused-of-abusing-market-power-through-contracts
Activision sued over female Call of Duty character (Polygon): https://www.polygon.com/2021/2/3/22264716/activision-call-of-duty-modern-warfare-mara-lawsuit-cade-janus
Kowloon Nights announces 23 new titles, continues to quietly revolutionize game funding (MCV/Press Release): https://www.mcvuk.com/development-news/from-the-industry-kowloon-nights-announces-23-new-titles-continues-to-quietly-revolutionize-game-funding/amp/
Manticore’s Core Invitational Game Jam: http://invitational.coregames.com
SEC Hunts for Fraud in Social-Media Posts Hyping GameStop (Bloomberg): https://www.bloomberg.com/news/articles/2021-02-03/sec-hunts-for-fraud-in-social-media-posts-that-drove-up-gamestop
Google Stadia Shuts Down Internal Studios, Changing Business Focus (Kotaku): https://kotaku.com/google-stadia-shuts-down-internal-studios-changing-bus-1846146761
Focusing on Stadia’s future as a platform, and winding down SG&E (Google): https://blog.google/products/stadia/focusing-on-stadias-future-as-a-platform-and-winding-down-sge/
Embracer Group to merge with Easybrain forming eighth operating group: https://embracer.com/release/embracer-group-to-merge-with-easybrain-forming-eighth-operating-group/
Embracer Group acquires Aspyr Media: https://embracer.com/release/embracer-group-acquires-aspyr-media/
Embracer Group merges with The Gearbox Entertainment Company and form a seventh operating group: https://embracer.com/release/embracer-group-merges-with-the-gearbox-entertainment-company-and-form-a-seventh-operating-group/

View Details

It’s been one week since Reddit memefied GameStop’s stock. We break down what’s happened, how Wall Street is closing ranks, and why it all could hurt retirement investors. We also discuss Activision’s anti-diversity moves, EA’s new Skate studio, Epic Games Store’s big 2020, Microsoft and Capcom earnings, and more.

TIME STAMPS

[00:01:56] - Konami restructures (but isn’t getting out of video games)
[00:05:38] - EA opens Full Circle to make the next Skate game
[00:06:47] - Harassment at Scavengers Studio
[00:19:57] - Activision pushes back against call for diversity
[00:27:46] - Tencent invests in Dontnod
[00:30:47] - Epic Games Store’s big year of growth
[00:37:35] - Quick Hits
[00:53:00] - Koei Tecmo financials or “Why Musou is Awesome, Manda”
[00:54:48] - Microsoft / Xbox Earnings
[00:58:12] - Capcom earnings and why Palamutes are best boys (and girls)
[01:06:54] - GameStonk

SOURCES

Announcement of Executive Appointments, Official Personnel Changes, and Organizational Restructuring (Konami): https://www.konami.com/games/corporate/en/news/release/20210115/
Electronic Arts creates Full Circle studio in Vancouver to make #Skate4 (GamesBeat): https://venturebeat.com/2021/01/27/skate4/
Scavengers Studio creative director accused of belittling, screaming at, groping employees (GamesIndustry.biz): https://www.gamesindustry.biz/articles/2021-01-25-scavengers-studio-creative-director-accused-of-belittling-screaming-at-groping-employees
Scavengers Studio Official Statement (January 27, 2021): https://www.scavengers.ca/general/official-statement/
Activision Is Resisting Diversity Hiring Push by America's Unions (Vice): https://www.vice.com/en/article/n7vkb8/activision-is-resisting-diversity-hiring-push-by-americas-unions
DONTNOD ANNOUNCES A BUSINESS COOPERATION AGREEMENT WITH TENCENT... : https://www.actusnews.com/en/DONTNOD-ENTERTAINMENT/pr/2021/01/27/dontnod-announces-a-business-cooperation-agreement-with-tencent-and-the-simultaneous-launch-of-approximately-eur-40-million
Epic Games Store 2020 Year in Review: https://www.epicgames.com/store/en-US/news/epic-games-store-2020-year-in-review
Koei Tecmo Financial Highlights for 3rd Quarter FY ending March 2021: https://www.koeitecmo.co.jp/e/ir/docs/ir1_20210125_e.pdf
Microsoft Earnings Release FY21 Q2: https://www.microsoft.com/en-us/Investor/earnings/FY-2021-Q2/press-release-webcast
Capcom Q3 FY Ending March 31, 2021: https://www.capcom.co.jp/ir/english/data/pdf/explanation/2020/3rd/explanation_2020_3rd_02.pdf
GameStop’s wild stock surge won’t stop it from being the next Blockbuster (Fast Company - Interview with Mike): https://www.fastcompany.com/90598238/gamestop-stock-surge-blockbuster?fbclid=IwAR228BLonAOffGVVftuXFhLBtPNDSp8dn5L1eAs3o_ZX_R8OBG5YeA8T2UQ
Engadget Podcast: How Reddit day traders blew up GameStop's stock (Guest Starring Mike): https://www.engadget.com/engadget-reddit-gamestop-stock-wallstreetbets-043010277.html

View Details

GameStop stock jumped 80% as Redditors threw down with a short-seller analyst firm. We also discuss the Xbox Live price hike, Vicarious Visions’ new home at Blizzard, the EU fining Valve and five publishers, and more.

TIME STAMPS

[00:01:37] - MGI purchases KingsIsle Entertainment
[00:08:53] - Opera purchases YoYo Games
[00:14:05] - Team17 acquires Blacklight Interactive
[00:17:01] - Tencent makes significant investment in Klei
[00:20:59] - Steam, five publishers fined by EU for geoblocking
[00:31:14] - Quick Hits
[00:45:55] - Listener Question from Pauleto G
[01:00:16] - Resident Evil Showcase
[01:13:33] - Vicarious Visions folded into Activision Blizzard
[01:19:50] - CD Projekt facing a second investor lawsuit
[01:23:15] - Microsoft faces backlash over (and swiftly retracts) Xbox Live price hike
[01:35:54] - GameStop’s wacky week and short squeezin’

Sources:

Media and Games Invest entered into an agreement to acquire U.S. game developer KingsIsle Entertainment Inc... : https://press.mgi.group/correction-of-a-release-from-16012021-0026-cetcest-media-and-games-invest-entered-into-an-agreement-to-acquire-kingsisle-entertainment-inc-for-usd-126m-plus-earn-outs-in-this-context-oaktree-is-subscribing-for-a-eur-25m-share-issue
Opera opens new video game division and confirms YoYo Games purchase (Gamasutra): https://www.gamasutra.com/view/news/376454/Opera_opens_new_video_game_division_and_confirms_YoYo_Games_purchase.php
Team 17 acquires Golf With Your Friends franchise for $16.4 million (Gamasutra): https://www.gamasutra.com/view/news/376492/Team_17_acquires_Golf_With_Your_Friends_franchise_for_164_million.php
Studio Announcement (Klei): https://forums.kleientertainment.com/forums/topic/126355-studio-announcement/
Antitrust: Commission fines Valve and five publishers of PC video games € 7.8 million for “geo-blocking” practices (European Commission): https://ec.europa.eu/commission/presscorner/detail/en/ip_21_170
Coding Prodigy Behind Hit Game PUBG Eyes IPO Worth Billions (Bloomberg): https://www.bloomberg.com/amp/news/articles/2021-01-18/coding-prodigy-behind-hit-game-pubg-eyes-ipo-worth-billions
GDC Showcase: https://gdconf.com/showcase
LudoNarraCon: LudoNarraCon.com
Capcom Announces Revision of Consolidated Full-Year Earnings Forecast…: https://www.capcom.co.jp/ir/english/news/html/e210121b.html
Vicarious Visions merged into Blizzard (GamesIndustry): https://www.gamesindustry.biz/articles/2021-01-22-vicarious-visions-merged-into-blizzard
CD Projekt faces a second class-action lawsuit over Cyberpunk 2077 (GamesIndustry): https://www.gamesindustry.biz/articles/2021-01-19-cd-projekt-faces-a-second-class-action-lawsuit-over-cyberpunk-2077
Current report no. 4/2021 (CD Projekt): https://www.cdprojekt.com/en/investors/regulatory-announcements/current-report-no-4-2021/
People Are Getting 'Cyberpunk 2077' Refunds and Getting to Keep The Game (Vice): https://www.vice.com/en/article/g5bmmx/people-are-getting-cyberpunk-2077-refunds-and-getting-to-keep-the-game

View Details

Lucasfilm Games is back, and we’re discussing what it all means. We also chat about GameStop’s holiday sales, December 2020 NPD, Steam’s year in review, Riot and Bungie going for the jugular in a lawsuit against a cheat app maker, the Moonrise Fund, 2020’s huge year of investment deals, and more Cyberpunk drama.

TIME STAMPS

[00:01:22] GameStop 2020 Holiday Sales
[00:12:22] Riot and Bungie Taking Down GatorCheats
[00:21:26] Glitch announces the Moonrise Fund
[00:30:20] Global Video Game Deals Report 2002 (InvestGame) & Our 2020/21 Trends
[00:32:18] Quick Hits
[00:41:09] Capcom Ransomware Update
[00:44:01] NPD December 2020 Report
[01:02:10] Steam 2020 Year In Review
[01:14:37] CD Projekt Group Is At It Again
[01:33:09] Lucasfilm Games is BACK, BABY!

SOURCES

GameStop Reports 2020 Holiday Sales Results: https://news.gamestop.com/news-releases/news-release-details/gamestop-reports-2020-holiday-sales-results
Riot and Bungie teaming up to sue Valorant and Destiny 2 cheatmakers (Polygon): https://www.polygon.com/2021/1/11/22224696/riot-bungie-destiny-2-valorant-cheat-maker-lawsuit
The Moonrise Fund (Glitch): https://heyglitch.com/moonrise
Global Video Game Deals Report 2020 — Investment Overview (InvestGame): https://investgame.net/news/investgame-annual-report-2020
2020’s Biggest Trends … and Where They’re Heading in 2021 (VirtualEconCast.com): http://virtualeconcast.com/trends/2020s-biggest-trends-and-where-theyre-heading-in-2021/
3rd Update Regarding Data Security Incident Due to Unauthorized Access (Capcom): https://www.capcom.co.jp/ir/english/news/html/e210112.html
NPD December 2020 (@MatPiscatella on Twitter): https://twitter.com/MatPiscatella/status/1350078857970270209?s=20
Steam 2020 Year in Review: https://steamcommunity.com/groups/steamworks/announcements/detail/2961646623386540827
Our Commitment (CD Projekt / Cyberpunk): https://www.cyberpunk.net/en/news/37298/our-commitment
Inside Cyberpunk 2077's Disastrous Rollout (Bloomberg): https://www.bloomberg.com/news/articles/2021-01-16/cyberpunk-2077-what-caused-the-video-game-s-disastrous-rollout
LUCASFILM GAMES BEGINS A NEW ERA (StarWars.com): https://www.starwars.com/news/lucasfilm-games
Lucasfilm Games' New Partnerships Mean the Galaxy's the Limit (Wired): https://www.wired.com/story/lucasfilm-games-star-wars-ubisoft-indiana-jones-bethesda/

View Details

New year. New season. Virtual Economy is back with a news-filled show covering more Cyberpunk 2077, Raw Fury dropping lots of business documents, our trends predictions for the year, Tencent’s takeover of Leyou, Nintendo’s Next Level Games purchase, and more.

TIME STAMPS

[00:01:40] Cyberpunk 2077 sales and share value fallout
[00:12:33] Hey. Armed insurrection and an attempted coup of the United States is bad. Black Lives Matter. Trans Rights are Human Rights. White supremacy is garbage.
[00:14:14] Tencent acquires Leyou
[00:19:21] Nintendo acquires Next Level Games
[00:25:38] Epic bought a mall
[00:32:50] FTC reprimands Tapjoy for deceptive practices
[00:37:25] Quick Hits
[00:49:03] Roblox IP… no?
[01:03:00] The Sinking City relisted as Frogwares vs Nacon continues
[01:11:00] Dissecting the Raw Fury contract
[01:37:00] A look at the trends of 2020 and what we expect from 2021

SOURCES

Disclosure of estimated sales of Cyberpunk 2077 (CD Projekt): https://www.cdprojekt.com/en/investors/regulatory-announcements/current-report-no-67-2020/
Leyou shareholders agree to $1.3bn Tencent takeover (PocketGamer): https://www.pocketgamer.biz/news/75297/leyou-shareholders-agree-to-13bn-tencent-takeover/
Notification of the Acquisition of the Canadian Software Developer, Next Level Games (Nintendo IR): https://www.nintendo.co.jp/ir/pdf/2021/210105e.pdf
Xbox Series X survey asks if you want PS5 DualSense features in the Xbox controller (TechCrunch): https://www.techradar.com/news/xbox-series-x-survey-asks-if-you-want-ps5-dualsense-features-on-its-controller
The Sinking City returns to stores as Nacon wins first decision in legal dispute (GamesIndustry): https://www.gamesindustry.biz/articles/2021-01-05-the-sinking-city-returns-to-stores-as-nacon-wins-first-decision-in-ongoing-legal-dispute
Epic Games Announces New Location for Company Headquarters: https://www.epicgames.com/site/en-US/news/epic-games-announces-new-location-for-company-headquarters
FTC: Tapjoy’s deception settlement has implications for Apple and Google (GamesBeat): https://venturebeat.com/2021/01/07/ftc-tapjoys-deception-settlement-has-implications-for-apple-and-google/
Roblox Announces Anticipated Direct Listing (BusinessWire): https://www.businesswire.com/news/home/20210106005890/en/Roblox-Announces-Anticipated-Direct-Listing
MINECRAFT EARTH COMING TO AN END (Mojang): https://www.minecraft.net/en-us/article/minecraft-earth-coming-end
Raw Fury Pulls Back Curtain on Publishing Contracts (VirtualEconCast.com): http://virtualeconcast.com/news/raw-fury-pulls-back-curtain-on-publishing-contracts/
Raw Fury Developer Resources: https://www.dropbox.com/sh/kx2oljt3k4c4qcl/AABx7KE8Hj7vILW3gHI0tzzLa?dl=0

2020’s Biggest Trends … and Where They’re Heading in 2021 (VirtualEconCast.com): http://virtualeconcast.com/trends/2020s-biggest-trends-and-where-theyre-heading-in-2021/

View Details

CD Projekt has botched Cyberpunk’s launch to get it out the door in 2020. The follow-up has included empty refund promises and throwing platform partners under the bus. We discuss the financial reasons behind the rush and the impact the failures have had on the share price and company value.

TIME STAMPS

[00:02:11] CD Projekt Red’s pattern of gaslighting and deception around Cyberpunk 2077
[1:03:00] Devotion announced and then immediately canceled for GOG
[01:09:45] Keywords Studios acquisitions
[01:11:35] Quick Hits
[01:19:05] EA outbids Take-Two for Codemasters
[01:23:15] Discord raises another $100 million
[01:27:40] Microsoft, Sony, and Nintendo team up for safer gaming

SOURCES

Cyberpunk on Twitter: https://twitter.com/CyberpunkGame/status/1338390123373801472?s=20
CDPR Emergency Board Meeting: https://www.cdprojekt.com/en/wp-content/uploads-en/2020/12/call-transcript_en.pdf
Sony refund announcement: https://twitter.com/AskPlayStation/status/1339737360184078336?s=20
Rami Ismail explains what certification is: https://twitter.com/tha_rami/status/1338978911678590984?s=20
CD Projekt / GOG changes mind on release of Devotion: https://twitter.com/GOGcom/status/1339227388438306817?s=20
Acquisition of High Voltage Software, Inc.: https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=31515082&company=keywords
Acquisitions of Indigo Pearl and Jinglebell: https://irpages2.equitystory.com/websites/rns_news/English/1100/news-tool---rns---eqs-group.html?article=31521811&company=keywords
Electronic Arts Reaches Agreement for Recommended Acquisition of Codemasters Group Holdings PLC: https://www.businesswire.com/news/home/20201213005036/en/Electronic-Arts-Reaches-Agreement-for-Recommended-Acquisition-of-Codemasters-Group-Holdings-PLC
Discord raises $100 million as its social hub hits 140 million users (GamesBeat): https://venturebeat.com/2020/12/17/discord-raises-100-million-as-its-social-hub-hits-140-million-users/
Our Shared Commitment to Safer Gaming (Xbox Wire): https://news.xbox.com/en-us/2020/12/14/shared-safety-principles/

View Details

GameStop’s Earnings Saved By COVID Tax Credits (News Show): GameStop reports stronger earnings, but has a one-time tax credit to thank. We also discuss, Cyberpunk’s launch, Twitch’s new safety rules, Activision suing Netflix, and more. We’ll be listing timestamps for each topic moving forward for ease of listening! Enjoy!

TIME STAMPS

1:21 - GameStop earnings
14:45 - Twitch - New conduct rules and enforcement
40:15 - Activision is suing Netflix
48:30 - Quick Hits
1:04:00 - Cyberpunk 2077’s messy launch and toxic community
1:19:00 - The problem with using Metacritic for bonuses
1:21:00 - Humble announces first recipients of Black Developer Fund awards
1:24:00 - Ubisoft finally hires a VP of Global Diversity and Inclusion
1:26:30 - Manticore rolls out new Perks program
1:33:15 - November 2020 NPD
1:39:00 - Game Awards 2020 Takeaways

SOURCES

GameStop Reports Third Quarter Results: http://news.gamestop.com/news-releases/news-release-details/gamestop-reports-third-quarter-results-positive-start-fourth
Introducing Our New Hateful Conduct & Harassment Policy (Twitch): https://blog.twitch.tv/en/2020/12/09/introducing-our-new-hateful-conduct-harassment-policy/
Netflix Sued by Activision for Poaching CFO (THR): https://www.hollywoodreporter.com/thr-esq/netflix-sued-by-activision-for-poaching-cfo
World of Warcraft: Shadowlands Becomes Fastest-Selling PC Game of All Time: https://investor.activision.com/node/33796/pdf
HUMBLE FUNDS ITS FIRST FIVE GAMES THROUGH THE $1 MILLION BLACK GAME DEVELOPER FUND: https://www.humblegames.com/updates-article/humble-funds-its-first-five-games-through-the-1-million-black-game-developer-fund/
Cyberpunk 2077 Epileptic PSA (GameInformer): https://www.gameinformer.com/2020/12/07/cyberpunk-2077-epileptic-psa
CD Projekt Changes Developer Bonus Structure After Buggy Release (Bloomberg): https://www.bloomberg.com/news/articles/2020-12-11/cd-projekt-changes-developer-bonus-structure-after-buggy-release
Ubisoft Appoints Raashi Sikka as VP Global Diversity & Inclusion: https://ubistatic19-a.akamaihd.net/comsite_common/en-US/images/pressrelease_downloadablemm_20201208_052829_ubisoftappointsraashisikka_vpofdi_final_tcm99-363850_tcm99-196733-32.pdf
The UGC Multiverse is the Future of the Creator Economy (Manticore): https://medium.com/core-games/the-ugc-multiverse-is-the-future-of-the-creator-economy-eabbce7a272c

View Details

Event company ReedPop has announced ambitious dates for next year’s PAX shows. In an original report, we discuss exhibitor reactions to PAX Online, what went right and wrong, the price of exhibiting at PAX events, and what developers and publishers should consider when choosing which of the many events to allocate.

In this episode

1:28 - EG7 acquires three studios
6:35 - Phoenix Labs relaunches Dauntless and expands
9:25 - Fortnite: Season finale player count, cross-over success, and Crew subscription
21:30 - Microsoft opens up about Game Pass payments to developers
31:45 - Quick Hits
46:40 - Activision Blizzard reports $3 million in Call of Duty net bookings for past 12 months
50:48 - BioWare leadership shakeup
55:20 - Report on PAX Online, PAX 2021 dates, E3 plans, and what developers should consider when choosing which events to attend

Links: * EG7 Enters Into an Agreement to Acquire Piranha Games Inc.: https://www.enadglobal7.com/press/121645C48E654694 * EG7 Completes the Acquisition of Big Blue Bubble: https://www.enadglobal7.com/press/E1F959FDA80E3F54 * EG7 enters into an agreement to acquire Daybreak Game Company and has secured debt financing and intends to raise equity: https://www.enadglobal7.com/press/7758700B9A777D34/ * Phoenix Labs Establishes New Montreal and Los Angeles Studios, Announces New Games in Development: https://www.prnewswire.com/news-releases/phoenix-labs-establishes-new-montreal-and-los-angeles-studios-announces-new-games-in-development-301183133.html * MICROSOFT’S PHIL SPENCER ON LAUNCHING THE NEW XBOX AND THE FUTURE OF GAMES (The Verge): https://www.theverge.com/21611412/microsoft-phil-spencer-interview-xbox-series-x-launch-decoder-podcast * Call of Duty Surpasses $3 Billion in Net Bookings Over Last 12 Months as Activision Ignites a New Business Model (PR Newswire): https://www.businesswire.com/news/home/20201204005140/en/Call-of-Duty-Surpasses-3-Billion-in-Net-Bookings-Over-Last-12-Months-as-Activision-Ignites-a-New-Business-Model * BioWare’s Leadership Shakeup - Casey Hudson (https://blog.bioware.com/2020/12/03/from-casey-hudson), Mark Darrah (https://blog.bioware.com/2020/12/03/from-mark-darrah/), Laura Miele (https://blog.bioware.com/2020/12/03/a-message-from-laura-miele-chief-studios-officer-electronic-arts/), Christian Dailey (https://blog.bioware.com/2020/12/04/a-note-from-christian/)

View Details

Consultant, critic, and host Steve Saylor joins us to discuss the current state of accessibility in gaming and what the console launches got right (and wrong).

View Details

In this bonus episode, we discuss the emerging trends from the console launch and what we’re watching as the generation gets underway. How will the industry evolve around these consoles? Join us and find out what we’re paying attention to.

View Details

This terribly named episode is full of Capcom’s ransomware calamity, Apple’s scheming, and Embracer Group’s acquisition spree. Also: Paradox earnings, EA’s Impact Report, another Joy-Con lawsuit, and So. Much. News.

Apple will reduce App Store cut to 15 percent for most developers starting January 1st: https://www.theverge.com/2020/11/18/21572302/apple-app-store-small-business-program-commission-cut-15-percent-reduction
Get cleared music and monetize your streams with Monstercat Gold and Twitch: https://www.monstercat.com/twitch-affiliate/
Interim report January – September 2020 (Paradox): https://www.paradoxinteractive.com/en/interim-report-january-september-2020
Embracer Group News: https://embracer.com/news-media/
Resident Evil Village launch date leaked in massive Capcom ransomware attack (Polygon): https://www.polygon.com/2020/11/16/21569504/capcom-leak-ransomware-resident-evil-village-release-dates-monster-hunter-stories-2-nintendo-switch
Update Regarding Data Security Incident Due to Unauthorized Access (Capcom): http://www.capcom.co.jp/ir/english/news/html/e201116.html?_pb_uid=1734
EA Impact Report 2020: https://media.contentapi.ea.com/content/dam/eacom/corporate/docs/2020-impact-report.pdf
Ubisoft Removes Managing Director Of Its Skull And Bones Studio (Kotaku): https://kotaku.com/ubisoft-removes-managing-director-of-its-skull-and-bone-1845705097
Another Joy-Con drift class action lawsuit filed against Nintendo (Polygon): https://www.polygon.com/2020/11/17/21572381/nintendo-switch-joy-con-controller-drift-class-action-lawsuit
Saber Interactive picks up Todd Hollenshead for Showrunner Studio: https://venturebeat.com/2020/11/18/former-id-software-president-todd-hollenshead-takes-over-publishing-at-saber/
David “Deej” Dague joins Iron Galaxy Studios as Head of Communications and Chelsea Blasko named as co-CEO. Our interview with Chelsea Blasko: https://virtualeconomy.libsyn.com/episode-49-taking-good-care-of-developers-starts-at-the-top-with-chelsea-blasko-co-ceo-at-iron-galaxy
$70 PS5 game pricing is fair, argues PlayStation boss: https://www.videogameschronicle.com/news/70-ps5-game-pricing-is-fair-argues-playstation-boss/

View Details

In our first episode looking at the impact of the new console launches, we welcome But Why Tho's Kate Sanchez and Matt Donahue to discuss the intersection of hardware and game pricing and inclusion. We also have news, including Take-Two’s acquisition of Codemasters and a big chat about the Twitch/DMCA mess.

If want to skip right to the launch conversation, jump ahead to 46 minutes.

Take-Two Interactive Software, Inc. Reaches Agreement for Recommended Acquisition of Codemasters Group Holdings PLC: https://ir.take2games.com/news-releases/news-release-details/take-two-interactive-software-inc-reaches-agreement-recommended?field_nir_news_date_value[min]=
Tommy Tallarico settles copyright dispute with Roblox over ‘oof’ sound (GamesBeat): https://venturebeat.com/2020/11/10/tommy-tallarico-settles-copyright-dispute-with-roblox-over-oof-sound/
Music-Related Copyright Claims and Twitch (Twitch): https://blog.twitch.tv/en/2020/11/11/music-related-copyright-claims-and-twitch/
Justin Wong on Twitch’s DMCA history (Twitter): https://twitter.com/JustinWong/status/1326625767808102400?s=20
Jason Maestas on Twitch Tools (Twitter): https://twitter.com/jasonmaestas/status/1326929197822959617?s=20
@HCJustinn on a Phasmophobia DMCA strike for whispering (Twitter): https://twitter.com/HCJustinn/status/1326706431215722497?s=20
FUSER USER GENERATED CONTENT GUIDE (Harmonix): https://support.fuser.com/hc/en-us/articles/360056830754-FUSER-User-Generated-Content-Guide
Wes Keltner’s videos on DMCA and licensed music (Twitter): https://twitter.com/weskeltner/status/1326006868708372482?s=20
The GameDev Budgeting Handbook (Michael Futter, Bithell Games): http://GameDevBizBook.com
Xbox's Phil Spencer: 'We're not driven by how many consoles we sell' (Guardian): https://www.theguardian.com/games/2020/nov/11/xbox-phil-spencer-interview-microsoft-series-x

View Details

In our second big earnings show of the reporting period, we break down what went right at Nintendo, EA, and Take-Two, and what went… not so well at Sega and Square Enix. EA is about to make bank on its EA Play service thanks to its Game Pass partnership, while Take-Two continues to dismiss subscription as a viable piece of gaming’s future.

Nintendo Full Financial Release: https://www.nintendo.co.jp/ir/pdf/2020/201105e.pdf
SegaSammy Consolidated Financial Reports Q2 FY21: https://www.segasammy.co.jp/english/pdf/release/202103_2q_tanshin_20202206_e.pdf
Square Enix Consolidated Financial Results for the Six-Month Period Ended September 30, 2020: https://www.hd.square-enix.com/eng/ir/news/pdf/21q2earnings.pdf
EA Financial Results Q2 FY21: https://s22.q4cdn.com/894350492/files/doc_financials/2021/q2/Q2-FY21-Earnings-Release-Final.pdf
Take-Two Financial Results Q2 FY21: https://ir.take2games.com/news-releases/news-release-details/take-two-interactive-software-inc-reports-strong-results-16?field_nir_news_date_value[min]=
Zynga IR: https://investor.zynga.com/static-files/3781c001-7e1f-42e8-a3f3-981352462da9

View Details

Sony is taking extraordinary precautions in the face of COVID-19. If you want a console this year, you’re going to need to purchase it online. With Xbox Series X and PS5 out next week, we look at a few things players can expect.

Curve Digital acquires IronOak Games (GamesIndustry): https://www.gamesindustry.biz/articles/2020-11-02-curve-digital-acquires-ironoak-games
Acclaim cofounder Gregory Fischbach starts publisher Accelerate Games (GamesBeat): https://venturebeat.com/2020/11/02/acclaim-cofounder-gregory-fischbach-starts-publisher-accelerate-games/
Judge Bristles at Google’s October 2022 Date for Fortnite Case (Esports Observer): https://esportsobserver.com/google-epic-fortnite-court-date/
Launch-day sales will be online-only this year, so please plan ahead. (PlayStation Blog): https://blog.playstation.com/2020/11/05/playstation-5-launch-day-ordering-update/

View Details

It’s a new season of earnings reports, and we’ve got what you need to know about Microsoft ($MSFT), Sony ($SNE), Capcom, Ubisoft, and Activision ($ATVI). We’re looking at trends as we head into the next generation of console hardware.

Capcom Q2 FY2021 Earnings (Capcom): http://www.capcom.co.jp/ir/english/news/html/e201029b.html
Sony Q2 FY2020 Consolidated Financial Results (Sony): https://www.sony.net/SonyInfo/IR/library/presen/er/pdf/20q2_sonypre.pdf
Destruction AllStars coming to PlayStation Plus in February (PlayStation Blog): https://blog.playstation.com/2020/10/26/destruction-allstars-coming-to-playstation-plus-in-february/
PlayStation 5 Accessibility features (Sony): https://www.sie.com/en/blog/empowering-all-abilities-of-gamers/
Microsoft Q1 FY21 Earnings (Microsoft): https://www.microsoft.com/en-us/Investor/earnings/FY-2021-Q1/press-release-webcast
Ubisoft Q2 FY21 Earnings (Ubisoft): https://ubistatic19-a.akamaihd.net/comsite_common/en-US/images/28ubisoft%20fy21%20h1%20earnings%20pr%20english%20final_tcm99-363513_tcm99-196733-32.pdf
Activision Blizzard Q3 FY 20 Earnings (Activision Blizzard): https://investor.activision.com/static-files/2d66791b-ca74-439a-87e8-7cd443b44c9a

View Details

CD Projekt Red has continued to prioritize product over people. We discuss the dishonesty around the game’s development and how 21 more days of development is 21 more days of crunch. We also discuss the benefits and problems with GameStop’s FlexPay program, the RIAA’s battle with Twitch, and Facebook’s play for more user data with its new cloud gaming services.

Twitch, Amazon Slammed by RIAA and Major Industry Groups for Using Unlicensed Music (Variety): https://variety.com/2020/digital/news/twitch-amazon-unlicensed-music-riaa-recording-academy-1234815503/

Facebook Cloud Gaming: https://www.facebook.com/fbgaminghome/blog/cloud-gaming-meet-facebook-gaming

Global Game Jam 2021 Sign-up: https://globalgamejam.org/user/signup/to/start/using

Starbreeze Coverage (GameDaily): https://gamedaily.biz/topic/starbreeze

GameStop FlexPay (GameStop): https://www.gamestop.com/collection/flexpay

Cyberpunk delayed until December 10 (Cyberpunk on Twitter): https://twitter.com/CyberpunkGame/status/1321128432370176002?s=20

View Details

EA is facing a Canadian loot box class action suit, Bethesda is accused of conspiring to destroy a competitor’s game, and Twitch is angering streamers with its DMCA policy. What a week! Other topics: Take Two places unskippable ads in NBA 2K21, Ubisoft is going all-in on cross-platform progression right before Amazon Luna’s launch, and Blizzard vets form a new studio to reinvigorate the RTS genre.

Frost Giant Studios raises $4.7 million for real-time strategy game revival (GamesBeat): https://venturebeat.com/2020/10/20/frost-giant-studios-raises-4-7-million-for-real-time-strategy-game-revival/
NBA 2K21 inserts unskippable ads into pre-game loading screens (Stevivor): https://stevivor.com/news/nba-2k21-inserts-unskippable-ads-pre-game-loading-screens/
Discover Ubisoft Connect (Ubisoft Connect): https://ubisoftconnect.com/en-US/
Safe in Our World / Fanatical Charity Bundle: https://www.fanatical.com/en/bundle/safe-in-our-world-1-st-anniversary-charity-bundle
Ragnarok v Human Head (Initial Complaint): http://www.bgrfirm.com/wp-content/uploads/2019/12/Ragnarok_Game_v_Nine_Realms_Complaint.pdf
Ragnarok v Human Head (Amended Complaint): http://www.bgrfirm.com/wp-content/uploads/2020/10/2020-10-20-Filed-Summons-on-Second-Amended-Complaint.pdf

View Details

We know Microsoft is sharing some next-gen revenue with GameStop, but how much? We discuss what we know about the deal, the missing pieces, and how it might impact the retailer’s survival. Other topics: Sony’s new PlayStation party recordings, Microsoft’s new comments about the Bethesda deal, Sega’s indelicate handling of crunch, and the September 2020 NPD Group report.

[Update: We’ve added a segment at the end before the outro (1:38:45) clarifying and providing an accessible explanation of the mechanics of short selling stock and how it impacts companies like GameStop.]

Level-5 has virtually halted operations in North America (GamesIndustry): https://www.gamesindustry.biz/articles/2020-10-09-level-5-has-virtually-halted-operations-in-north-america
Rockstar Buys Crackdown 2 Developer Ruffian Games, Rebrands To Rockstar Dundee (TheGamer): https://www.thegamer.com/rockstar-buys-crackdown-2-developer-ruffian-games-rebrands-to-rockstar-dundee/
ROCKSTAR DUNDEE LIMITED (UK.Gov): https://find-and-update.company-information.service.gov.uk/company/06574738/filing-history
Roblox files papers with SEC for public offering (GamesBeat): https://venturebeat.com/2020/10/12/roblox-files-papers-with-sec-for-public-offering/
HUMBLE BUNDLE WELCOMES TWO STRATEGIC ADVISORS TO THE BLACK GAME DEVELOPER FUND (Humble): https://www.humblegames.com/updates-article/humble-bundle-welcomes-two-strategic-advisors-to-the-black-game-developer-fund/
Sega "didn't mean to dredge up painful memories" by releasing Golden Axed game made during crunch (Eurogamer): https://www.eurogamer.net/articles/2020-10-15-sega-sorry-for-dredging-up-painful-memories-after-releasing-golden-axed-game-made-during-crunch
Details on new voice chat functionality coming to PS5 (PlayStation Blog): https://blog.playstation.com/2020/10/16/details-on-new-voice-chat-functionality-coming-to-ps5/
Here are all the Xbox Series X and Series S games coming out on launch day (Mashable): https://mashable.com/article/xbox-series-x-series-s-launch-titles-lineup-list/
Xbox Boss Phil Spencer On Series X Launch, Halo Infinite & Bethesda (Kotaku): https://kotaku.com/xbox-boss-phil-spencer-on-series-x-launch-halo-infinit-1845392984
Microsoft will give GameStop a share of Xbox’s digital revenues (Ars Technica): https://arstechnica.com/gaming/2020/10/microsoft-will-give-gamestop-a-share-of-xboxs-digital-revenues/

View Details

Just five months after release (and, later, a strange un-release), Amazon has killed its second game, Crucible. Other topics include: GameStop’s latest attempt at redemption through a partnership with Microsoft, Epic vs. Apple split the win on the preliminary injunction as Judge Gonzalez Rogers shares some interesting Fortnite user stats, a chat about the Swedish game industry and acquisitions, Genshin Impact’s huge release, and more.

Two Members of Notorious Videogame Piracy Group “Team Xecuter” in Custody (DOJ): https://www.justice.gov/opa/pr/two-members-notorious-videogame-piracy-group-team-xecuter-custody
Thunderful Group acquires Coatsink Software (Press Release): https://news.cision.com/thunderful-group/r/thunderful-group-acquires-coatsink-software,c3210590
FINAL CRUCIBLE DEVELOPER UPDATE (Amazon Game Studios): https://www.playcrucible.com/en-us/news/articles/final-crucible-developer-update
Amazon wants to ‘win at games.’ So why hasn’t it? (Wired): https://wired.me/culture/gaming/amazon-wants-to-win-at-games-so-why-hasnt-it
Twitch staff call the company out on sexual assault, racism, more (GamesIndustry): https://www.gamesindustry.biz/articles/2020-10-08-twitch-staff-call-the-company-out-on-sexual-assault-racism-more
ORDER GRANTING IN PART AND DENYING IN PART MOTION FOR PRELIMINARY INJUNCTION by Judge Yvonne Gonzalez Rogers (CourtListener): https://www.courtlistener.com/recap/gov.uscourts.cand.364265/gov.uscourts.cand.364265.118.0.pdf
10 app store principles to promote choice, fairness and innovation (Microsoft): https://blogs.microsoft.com/on-the-issues/2020/10/08/app-store-fairness-caf-interoperability-principles/
GameStop announces multiyear strategic partnership with Microsoft (Microsoft): https://news.microsoft.com/2020/10/08/gamestop-announces-multiyear-strategic-partnership-with-microsoft/

View Details

In ten years at Iron Galaxy, co-CEO Chelsea Blasko has helped grow the company from 13 to 175 employees with attention to empathy, emotional care, and making the 175 employees feel valued. The result? No crunch, low turnover, and high job satisfaction. In our discussion, Blasko discusses Iron Galaxy’s initiatives that focus on D&I, employee assistance, grief counseling, recovery and bonding leave, and caregiver support.

View Details

CDPR has broken a promise to clean up its crunch culture, giving us a springboard to talk about why crunch happens, how it hurts developers, and what external forces are acting against studios. Other topics include: Take Two back in court over digital reproductions of tattoos, Ubisoft’s plan to fix Hyperscape, an update on Epic vs. Apple, and news about a game contest that AT&T is targeting at what it calls “women-identifying developers.”

WWE Headed to Trial for Copying Wrestler's Tattoos for Video Game (The Hollywood Reporter): https://www.hollywoodreporter.com/thr-esq/wwe-headed-to-trial-for-copying-wrestlers-tattoos-for-video-game
AT&T Unlocked Games Submissions: http://www.attunlockedgames.com/
Cyberpunk 2077 Publisher Orders 6-Day Weeks Ahead of Game Debut (Bloomberg): https://www.bloomberg.com/news/articles/2020-09-29/cyberpunk-2077-publisher-orders-6-day-weeks-ahead-of-game-debut
As Cyberpunk 2077 Development Intensifies, CD Projekt Red Pledges To Be 'More Humane' To Its Workers (Kotaku): https://kotaku.com/as-cyberpunk-2077-development-intensifies-cd-projekt-r-1834849725

View Details

What. A. Week. Get ready for in-depth conversation about the Bethesda acquisition (and what it means for exclusivity), and how corporate finance makes the world go ‘round. We also have some thoughts from a lawyer who has worked on huge acquisitions. Other stories: Amazon Luna cloud gaming platform, more Epic vs. Apple, and a listener question about ethics.

Supercell ordered to pay $8.5 million for infringing Gree's patents (GamesIndustry): https://www.gamesindustry.biz/articles/2020-09-21-supercell-ordered-to-pay-usd8-5-million-for-infringing-grees-patents
A Worker-Owned Game Studio Rises From the Wreckage of 'Skullgirls' Developer (Vice): https://www.vice.com/en_us/article/7kpymg/a-worker-owned-game-studio-rises-from-the-wreckage-of-skullgirls-developer
Epic Games, Inc. v. Apple Inc. (Court Listener): https://www.courtlistener.com/docket/17442392/epic-games-inc-v-apple-inc/?order_by=desc
PROJECT DISCOVERY - LEVEL UP! (EVE Online): https://www.eveonline.com/article/qh27bw/project-discovery-level-up
A closer look at Luna, Amazon's cloud gaming service (Engadget): https://www.engadget.com/luna-amazon-cloud-gaming-interview-pwa-apple-173948922.html

View Details

NPD’s Mat Piscatella joins us again. This time, we’re discussing PlayStation 5 pricing, the messy pre-order rollout, and the August NPD report. We also discuss the Oculus Quest 2 (and whether it’s worth your money), Unity’s IPO, and Razer leaking 100,000 people’s personal information. We also have a hard discussion about Hogwarts Legacy, ethical consumption, and toxic creators. Trans rights are human rights.

Note: Following our recording, Sony issued a statement on the preorder debacle on Twitter:

Let’s be honest: PS5 preorders could have been a lot smoother. We truly apologize for that.

Over the next few days, we will release more PS5 consoles for preorder – retailers will share more details.

And more PS5s will be available through the end of the year.

Review: We do not recommend the $299 Oculus Quest 2 as your next VR system (Ars Technica): https://arstechnica.com/gaming/2020/09/review-we-do-not-recommend-the-299-oculus-quest-2-as-your-next-vr-system/
Razer accidentally leaked the personal information for over 100,000 gamers, report says (The Verge): https://www.theverge.com/2020/9/14/21436160/razer-data-leak-elasticsearch-sever-misconfiguration
Unity prices IPO above range at $52, initially valuing game software company at $13.7 billion (CNBC): https://www.cnbc.com/2020/09/17/unity-prices-ipo-above-range-at-52-valuing-company-at-13point7-billion.html
New games announced at PS5 Showcase, including Final Fantasy XVI, Hogwarts Legacy, and a new God of War title (PlayStation Blog): https://blog.playstation.com/2020/09/16/playstation-5-launches-in-november-starting-at-399-for-ps5-digital-edition-and-499-for-ps5-with-ultra-hd-blu-ray-disc-drive/
Sony Cuts PlayStation 5 Forecast by 4 Million Due to Chip Woes (Bloomberg): https://www.bloomberg.com/news/articles/2020-09-15/sony-is-said-to-cut-ps5-forecast-by-4-million-due-to-chip-woes

View Details

After a series of leaks, the stalemate is over. Microsoft has confirmed the Xbox Series S and pricing for it and the Xbox Series X. NPD’s Mat Piscatella joins us again to discuss. Other topics include: GameStop earnings, an update on Epic vs. Apple, Ubisoft’s latest blunder, and a report about some staffing problems at Paradox.

Paradox Interactive's QA staff allege poor treatment, low pay, and mismanaged layoffs (Rock, Paper, Shotgun): https://www.rockpapershotgun.com/2020/09/08/paradox-interactives-qa-staff-allege-poor-treatment-low-pay-and-mismanaged-layoffs/

GameStop Q2 FY2021 earnings: http://news.gamestop.com/news-releases/news-release-details/gamestop-reports-second-quarter-results-and-strong-progress

Epic vs. Apple docket (CourtListener): https://www.courtlistener.com/docket/17442392/epic-games-inc-v-apple-inc/?order_by=desc

Xbox Series S, Revealed (Thurrott.com): https://www.thurrott.com/games/xbox/240519/xbox-series-s-revealed

Xbox Series S leaked trailer (WalkingCat/@_h0x0d_): https://twitter.com/_h0x0d_/status/1303252607759130624

Xbox Series S and Xbox Series X Launch November 10, Starting at $24.99 a Month with Xbox Game Pass Ultimate and EA Play (Xbox Wire): https://news.xbox.com/en-us/2020/09/09/xbox-series-x-and-xbox-series-s-launching-november-10/

View Details

NPD number magician Mat Piscatella joins us to discuss the fact that it’s September and we still don’t have Xbox Series X and PS5 console prices. Other topics: Goodbye to Vlambeer, Warner Bros. Interactive won’t be sold, Ubisoft’s latest major mess-up, and Nvidia’s pricing for the 30 Series GPUs.

Skullgirls Developer Lays Off Everyone Who Hadn't Already Quit (Kotaku): https://kotaku.com/skullgirls-developer-lays-off-everyone-who-hadnt-alread-1844948877
Vlambeer announces it is winding down operations (Twitter Thread): https://twitter.com/Vlambeer/status/1300840760296837120
AT&T to Scrap Sale of Warner Bros. Video-Game Unit (Bloomberg): https://www.bloomberg.com/news/articles/2020-09-01/at-t-is-said-to-scrap-sale-of-warner-bros-video-game-unit
Ubisoft facing backlash over new Tom Clancy game's gross use of Black Power imagery (Mashable): https://mashable.com/article/ubisoft-tom-clancy-elite-squad-raised-black-fist/
Seattle-based Big Fish Games lays off 250 people — read the memo sent to staff (GeekWire): https://www.geekwire.com/2020/seattle-based-big-fish-games-lays-off-250-people-read-memo-sent-staff/

View Details

Nikita Danshin and Aleksandra Korabelnikova, co-founders of Eggnut, tell us how they pitched Backbone to publishers, why they chose to team up with Raw Fury, and what they’ve learned along the way.

You can find Aleks’ updates on Twitter: http://www.twitter.com/backbonegame
And follow Nikita on Twitter, as well (even though his hilarious audio clip was sacrificed to the audio gods, somehow): http://www.twitter.com/eggnutohmygod
Backbone on Twitter - A Thread on Pitching: https://twitter.com/backbonegame/status/1293203072391548933

View Details

Epic and Apple both walk away from the restraining order hearing with a piece of what they wanted. Now we wait until the end of September for the next courtroom showdown. We also discuss Lab Zero’s implosion, Unity’s IPO, and Frogwares’ falling out with Big Ben/Nacon.

Why We Fight (Epic, Updated 8/26/20): https://www.epicgames.com/site/en-US/fortnite-mega-drop-faq?sessionInvalidated=true
Kinucakes on Twitter re Lab Zero: https://twitter.com/kinucakes/status/1297985084604129280
ClickAgain on Twitter re Lab Zero: https://twitter.com/ClickAgain/status/1297622837541261312
Autumn Games Statement on Lab Zero: https://twitter.com/sgmobile/status/1298105337593991168/photo/1
Sequoia strikes gold with Unity’s IPO filing (TechCrunch): https://techcrunch.com/2020/08/24/sequoia-strikes-gold-with-unitys-ipo-filing/
What did we learn from the Unity IPO filing? (GamesIndustry): https://www.gamesindustry.biz/articles/2020-08-25-what-did-we-learn-from-the-unity-ipo-filing
Frogwares games pulled from storefronts amid dispute with publisher, Focus Home Interactive (GameDaily): https://gamedaily.biz/article/1247/frogwares-games-pulled-from-storefronts-amid-dispute-with-publisher-focus-home-interactive
FROGWARES REMOVED THE SINKING CITY FROM STORES DUE TO PUBLISHER BIGBEN BREACHING CONTRACT TERMS (Game Watcher): https://www.gamewatcher.com/news/frogwares-removed-the-sinking-city-stores-publisher-bigben-breaching-contract-terms
Frogwares statement on Nacon dispute (Twitter): https://twitter.com/Frogwares/status/1298245160921374721

View Details

Two recipients of The Galaxy Fund join us to talk about their experiences securing prototype funding as well as their paths in game development.

Episode 27: The Galaxy Fund - https://virtualeconomy.libsyn.com/episode-27-the-galaxy-fund-with-evvakarr
Donate to the Galaxy Fund - https://www.gofundme.com/f/game-prototype-fund
Geneva's Studio: https://gensuta.carbonmade.com/
Jules' Studio: https://www.seraph7studios.com/

View Details

The Epic vs. Apple showdown heats up. We’ll get you caught up on everything you need to know. Other topics: EA facing an Ultimate Team lawsuit, 505 doubles down on anti-consumer behavior, and a discussion about how (not) to report a story about alleged company abuses.

Tencent acquires minority stake in Voodoo (GamesIndustry): https://www.gamesindustry.biz/articles/2020-08-17-tencent-acquires-minority-stake-in-voodoo
Goldman Sachs-Backed Cloner Uses War Chest, Ad Buys to Overshadow Original Games (Variety): https://variety.com/2018/gaming/features/donut-county-hole-io-apple-1202866615/
Games firm Rocksteady accused of inaction over staff harassment (Guardian): https://www.theguardian.com/world/2020/aug/18/games-firm-rocksteady-accused-of-lack-of-action-on-harassment
Rocksteady response (Twitter): https://pbs.twimg.com/media/EfzJXsgWkAAk9za?format=png&name=large
EA faces a class action lawsuit over Ultimate Team ‘loot boxes’ (VGC): https://www.videogameschronicle.com/news/ea-faces-a-class-action-lawsuit-over-ultimate-team-loot-boxes/
AN UPDATE ON THE ORGANIZATIONAL CHANGES FOR BLOODLINES 2 (Paradox): https://www.bloodlines2.com/en/an-update-on-the-organizational-changes-for-bloodlines-2
CONTROL ULTIMATE EDITION - AN EXPLANATION (505 Games): https://505games.com/control-ultimate-edition-an-explanation/
Epic vs. Apple - Apple responds to Epic’s request for an injunction (Court Listener): https://www.courtlistener.com/recap/gov.uscourts.cand.364265/gov.uscourts.cand.364265.36.0_2.pdf
WordPress founder claims Apple cut off updates to his completely free app because it wants 30 percent (The Verge): https://www.theverge.com/2020/8/21/21396316/apple-wordpress-in-app-purchase-tax-update-store?scrolla=5eb6d68b7fedc32c19ef33b4
Major news publishers ask Apple what can get them an App Store deal like Amazon’s (The Verge): https://www.theverge.com/2020/8/20/21378156/apple-news-publishers-subscription-deal-app-store-cut-terms-amazon-letter

View Details

We’re talking about executive pay again, as EA and Activision shareholders start to speak up about outsized compensation packages! We also discuss Halo Infinite’s delay and how Microsoft will adapt, the leaked Xbox Series X|S controller and release date, Warner Bros. layoffs as WBIE appears to be staying put, and 505’s unpopular decision to limit Control’s free next-gen upgrade to the new Ultimate Edition (leaving early adopters out in the cold).

[0hr:0min] Earnings discussion - Sega, Paradox, and Embracer Group

[0hr:41min] News discussion

[1hr:36min] BREAKING NEWS - Oh, and Epic created a payment structure for Fortnite to circumvent the App Store 30% platform fee. Apple banned Fortnite. Epic sued Apple for monopolistic practices. You know. No big deal.

SegaSammy Q1 FY2021 Earnings: https://www.segasammy.co.jp/english/ir/library/presentation/presentation.do
Paradox Q2 FY2020 Earnings: https://www.paradoxinteractive.com/en/interim-report-january-june-2020/
For World of Darkness, the future of tabletop RPGs is increasingly digital (VentureBeat): https://venturebeat.com/2020/08/02/for-world-of-darkness-the-future-of-tabletop-rpgs-is-increasingly-digital/
Embracer Group Q1 FY2021 Earnings: https://embracer.com/release/embracer-group-publishes-interim-report-q1-april-june-2020-operational-ebit-increased-249-to-sek-712-million/
Xbox Series X Launches this November with Thousands of Games Spanning Four Generations (Xbox Wire): https://news.xbox.com/en-us/2020/08/11/xbox-series-x-launching-with-thousands-of-games/
Microsoft’s new Xbox Series S console confirmed in leaked controller packaging (Verge): https://www.theverge.com/2020/8/9/21361157/microsoft-xbox-series-s-console-leak-controller-packaging
DC Comics, DC Universe Hit By Major Layoffs (THR): https://www.hollywoodreporter.com/heat-vision/dc-comics-dc-universe-hit-by-major-layoffs-1306743
These game writers made history by going on strike — and winning (Polygon): https://www.polygon.com/2020/8/11/21363817/lovestruck-voltage-entertainment-writers-strike-video-game-industry-unionization
Introducing Control Ultimate Edition (505 Games): https://505games.com/introducing-control-ultimate-edition/
Apple just kicked Fortnite off the App Store: https://www.theverge.com/2020/8/13/21366438/apple-fortnite-ios-app-store-violations-epic-payments
Epic Games, Inc. vs Apple, Inc.: https://cdn2.unrealengine.com/apple-complaint-734589783.pdf

View Details

CCP Games is studying how its complex EVE Online is helping players take valuable in-game skills like supply chain management out into the real world. Find out how CCP is working to help HR professionals understand the value of gaming when evaluating hiring candidates.

Demystifying gamers for HR (András Horváth): https://medium.com/@andrshorvth/demystifying-gamers-for-hr-157050e47ce7

View Details

It’s a Megasode! We dive into Activision, Nintendo, and Square Enix earnings, discuss the White House’s executive order targeting Tencent, and dish on the latest news. Next gen is heating up as Sony drops some more details about PS5 and accessory compatibility, Microsoft faces an uphill battle to get xCloud on iOS, and a reader inquires about thorny exclusivity deals.

Executive Order on Addressing the Threat Posed by WeChat (White House): https://www.whitehouse.gov/presidential-actions/executive-order-addressing-threat-posed-wechat/
ACTIVISION BLIZZARD ANNOUNCES RECORD SECOND-QUARTER 2020 FINANCIAL RESULTS (Activision): https://investor.activision.com/news-releases/news-release-details/activision-blizzard-announces-record-second-quarter-2020
Nintendo Q1 FY 2021 Financial Results (Nintendo IR)
https://www.nintendo.co.jp/ir/pdf/2020/200806e.pdf
https://www.nintendo.co.jp/ir/en/finance/hard_soft/index.html
https://www.nintendo.co.jp/ir/en/finance/software/index.html
Square Enix
PlayStation 5: Answering your questions on compatible PS4 peripherals & accessories (PlayStation Blog): https://blog.playstation.com/2020/08/03/playstation-5-answering-your-questions-on-compatible-ps4-peripherals-accessories/
Microsoft cuts xCloud iOS testing early as its future on Apple devices remains unclear (Verge): https://www.theverge.com/2020/8/5/21356274/microsoft-xcloud-ios-apple-iphone-ipad-testing-ends-apple-app-store-policies
When Microsoft's ambitious 'Netflix of gaming' service launches in September, it won't arrive on Apple devices – here's why (Business Insider): https://www.businessinsider.com/apple-explains-why-xbox-game-pass-is-not-on-iphone-2020-8

View Details

It’s a whopper of an earnings show, as we dive deep into EA, Take-Two, Capcom, and Sony earnings. If you love numbers, prepare to fall in love with… more numbers! There are some trends emerging, as the industry reports big growth amid the pandemic. However, some CEOs are preparing for recession, while others aren’t willing to acknowledge massive job loss due to COVID-19.

Take-Two Earnings (Q1 FY2021): https://ir.take2games.com/news-releases/news-release-details/take-two-interactive-software-inc-reports-strong-results-15?field_nir_news_date_value[min]=
EA Earnings (Q1 FY2021):
https://s22.q4cdn.com/894350492/files/doc_financials/2021/q1/Q1-FY21-Earnings-Release-Final.pdf
Capcom Earnings (Q1 FY2020): http://www.capcom.co.jp/ir/english/news/html/e200803b.html
Sony Earnings (Q1 FY2020): https://www.sony.net/SonyInfo/IR/library/presen/er/pdf/20q1_sonypre.pdf

View Details

Roblox will pay $250 million to creators of user-generated content on its platform. Most of those user-developers are young people. We discuss Roblox’s business model, its huge growth, and its problems with protecting kids. Other topics include: Private Division’s new deals with three great indie studios, Rocket Leagues shift to F2P, Nexon OC’s closure, and a user question about NDAs.

ROCKET LEAGUE GOING FREE TO PLAY THIS SUMMER (Psyonix): https://www.rocketleague.com/news/rocket-league-going-free-to-play-this-summer/
Roblox expects to pay $250 million to its mostly young-adult developers this year (Venture Beat): https://venturebeat.com/2020/07/28/roblox-expects-to-pay-250-million-to-its-mostly-teen-developers-this-year/
Nexon shuts down its Orange County game studio (VentureBeat): https://venturebeat.com/2020/07/16/nexon-shuts-down-its-orange-county-game-studio/
Private Division Teams up with Moon Studios, League of Geeks, and Roll7 on Upcoming New Games (Private Division): https://www.privatedivision.com/2020/07/29/private-division-teams-up-with-moon-studios-league-of-geeks-and-roll7-on-upcoming-new-games/

View Details

It’s time for another earnings show! Ubisoft CEO Yves Guillemot faced a barrage of questions about the company’s culture of assault and abuse during the most recent earnings call. If you need to skip over this part of the show, our conversation about Ubisoft’s abusive work environment begins at 33:00 and ends at 49:00. We’re also looking at Microsoft’s strong quarter with gaming seeing big gains. We also chat about the Xbox Series X first party showcase.

Ubisoft Q1 2020-21 Earnings: https://ubistatic19-a.akamaihd.net/comsite_common/en-US/images/pressrelease_downloadablemm_20200722_034443_ubisoftfy21q1salesenglishfinal_tcm99-362891_tcm99-196733-32.pdf

Microsoft Q4 2020 Earnings: https://www.microsoft.com/en-us/investor/earnings/FY-2020-Q4/press-release-webcast

View Details

Microsoft has laid out its philosophy for the coming generation, and it starts with a foundation of inclusivity. As the company gears up for next gen, it has also made changes in its product line that set the stage for new hardware and service offerings. Other topics include a deep dive into the GDC State of the Industry survey and how developers are faring under quarantine, Ubisoft’s overhaul of Skull & Bones, the Atari VCS’ partnership with AirConsole, and Stadia’s continuing struggles.

Atari VCS(TM) Partners with AirConsole Cloud-Based Gaming Service to Offer Over 150 Original Single-Player Casual and Multiplayer Party Games (Press Release) - https://www.accesswire.com/viewarticle.aspx?id=597250⟨=English
Ubisoft has rebooted Skull & Bones (VGC): https://www.videogameschronicle.com/news/ubisoft-has-rebooted-skull-bones/
Sekiro, Bomberman battle royale, and more coming to Google Stadia (Polygon): https://www.polygon.com/2020/7/14/21324390/google-stadia-connect-new-games-sekiro-bomberman-battle-royale
Global Mis-Steps: From acquisition to accusations (GamesIndustry): https://www.gamesindustry.biz/articles/2020-07-10-global-mis-steps-qa-studios-acquisition-produces-accusations-of-ghosted-employees-discrimination
You Are the Future of Gaming (Xbox Wire): https://news.xbox.com/en-us/2020/07/16/players-first-you-are-the-future-of-gaming/
Microsoft discontinues Xbox One X and Xbox One S digital edition ahead of Series X launch (The Verge): https://www.theverge.com/platform/amp/2020/7/16/21327330/microsoft-xbox-one-x-s-digital-edition-discontinued
GDC State of the Industry Survey: https://reg.gdconf.com/soti-wfh-2020?kcode=SOTIPR

View Details

Diversity and inclusion expert Kate Sanchez joins us for a big conversation about creating more welcoming spaces in the corporate world and especially the game industry. Our chat covers D&I fundamentals, creating meaningful change inside huge companies, and a deep dive into Ubisoft as a case study.

CW: Sexual assault and abuses of power from 17:45 through 28:00.

You can follow Kate on Twitter at @OhMyMithrandir and But Why Tho? at @ButWhyThoPC. You can also check out But Why Tho? At ButWhyThoPodcast.com.

Latinx in Gaming: @LatinosInGaming
'Donut County' is a love letter to LA: Ben Esposito's journey from cultural appropriation to fried-dough appreciation. (Engadget) - https://www.engadget.com/2017-12-20-donut-county-los-angeles-love-doughnuts-kachina-indie.html

View Details

EA is the latest game publisher under fire for excessive executive equity bonuses. We dive into a watchdog investment group’s complaints. We also discuss Microsoft’s rules for selling next-gen upgrades and Smart Delivery, the Atari VCS’ hefty price tag, Sony’s $250m investment in Epic, Pokemon Go’s success during the quarantine, 11bit Publishing’s increased investments, and Manticore’s $1m pilot program for game creators.

Report: Microsoft eyeing purchase of Warner Bros. Interactive Entertainment (Gamasutra): https://www.gamasutra.com/view/news/365980/Report_Microsoft_eyeing_purchase_of_Warner_Bros_Interactive_Entertainment.php
Next-gen game upgrades should be free, Xbox tells developers (VGC): https://www.videogameschronicle.com/news/next-gen-game-upgrades-should-be-free-xbox-tells-developers/
The long-overdue AMD Ryzen-powered Atari VCS console will begin shipping in October (PC Gamer): https://www.pcgamer.com/atari-vcs-console-shipping-date/
We sent a vulture to find the relaunched Atari box – and all he got was this lousy baseball cap (The Register): https://www.theregister.com/2018/03/22/atari_lempty_box/
Ubisoft Forward – Everything You Need To Know (Ubisoft): https://news.ubisoft.com/en-us/article/41nS5f7EjNSB9Hi7CwSuVz/ubisoft-forward-everything-you-need-to-know
Pokémon Go is breaking records despite coronavirus limitations (Polygon): https://www.polygon.com/2020/7/6/21314911/pokemon-go-coronavirus-record-player-spending-niantic-raids-fest-microtransactions-passes
Niantic’s Greg Borrud: From falling into games to making games for the real world (GamesBeat): https://venturebeat.com/2020/04/29/niantics-greg-borrud-from-falling-into-games-to-making-games-for-the-real-world/
Launching Core’s Creator Economy — $1 Million is Just the Start (Manticore): https://medium.com/core-games/launching-cores-creator-economy-1-million-is-just-the-start-6a116a78c06
Sony invests $250 million in ‘Fortnite’ developer Epic Games (Engadget): https://www.engadget.com/sony-invests-250-million-fortnite-developer-epic-games-184430527.html
CtW SEC submission asking shareholders to vote no on Say on Pay (SEC): https://sec.report/Document/0001377739-20-000042/

View Details

GameClub CEO Dan Sherman joins us to discuss the mobile game subscription service’s commitment to paying devs, and what he learned as co-founder of Tilting Point and dir. of business partnerships for EA Partners.

The Future of Gaming Is Subscription (Variety): https://variety.com/2019/gaming/columns/the-future-of-gaming-is-subscription-1203146012
A History of EA Partners (Game Informer): https://www.gameinformer.com/b/news/archive/2010/05/25/a-history-of-ea-partners.aspx

View Details

2K has signaled that game prices are going up in the new generation while also saying “no” to Smart Delivery and pricing its cross-gen version of NBA 2K21 at $100. Other topics include: Niantic’s team-up with Sleep No More creator Punchdrunk, the UN-release of Amazon Game Studio’s Crucible, an Xbox Game Pass success story, and more.

Content Warning: Discussion of sexual abuse and assault begins at 45:00 and ends at 1:04.

Note: According to an update to Kotaku’s June 2 report on Ubisoft that was updated following the recording of this show, Ubisoft’s Maxime Beland has resigned from the company. Tommy Francois has been placed on disciplinary leave. Another unnamed employee has been terminated from Ubisoft’s Toronto studio. (https://kotaku.com/head-of-ubisoft-announces-plans-to-shakeup-the-company-1844252024)
Mike Rose (@RaveofRavendale) on Game Pass and Descenders success: https://twitter.com/RaveofRavendale/status/1277626877780332544?s=20
Niantic teams up with Sleep No More creators for new projects (Polygon): https://www.polygon.com/2020/6/30/21308049/niantic-punchdrunk-ar-immersive-theater-partnership
Starbreeze seeks $26m to fund ongoing development of Payday 3 (GamesIndustry): https://www.gamesindustry.biz/articles/2020-06-30-starbreeze-seeks-USD26m-to-fund-ongoing-development-of-payday-3
Paradox Interactive Acquires Paris-based Playrion Game Studio: https://www.paradoxinteractive.com/en/paradox-interactive-acquires-paris-based-playrion-game-studio/
PlayStation Indies: https://www.playstation.com/en-us/games/indies/
Change Starts Today (Ubisoft): https://news.ubisoft.com/en-us/article/7yV2TRI9Zj3G545bnoc3ub/change-starts-today
Evo Online canceled after co-founder accused of sexual misconduct (The Verge): https://www.theverge.com/2020/7/3/21312385/evo-online-cancelled-sexual-misconduct-allegations
Several Smash Bros Pros Accused of Sexual Assault and Pedophilia: https://screenrant.com/smash-bros-pros-accused-sexual-assault-pedophilia/
Your Place to Talk (Discord): https://blog.discord.com/your-place-to-talk-a7ffa19b901b
Amazon is yanking struggling free-to-play shooter Crucible back into closed beta (Eurogamer): https://www.eurogamer.net/articles/2020-06-30-amazon-is-yanking-struggling-free-to-play-shooter-crucible-back-into-closed-beta
Fortnite Save the World Update | State of Development: https://www.epicgames.com/fortnite/en-US/news/fortnite-save-the-world-update-state-of-development
Nintendo Scraps the Sale of Digital Game Download Codes at European Retailers (NintendoLife): https://www.nintendolife.com/news/2020/06/nintendo_scraps_the_sale_of_digital_game_download_codes_at_european_retailers
Kongregate no longer accepting new titles, undergoing layoffs (GamesIndustry): https://www.gamesindustry.biz/articles/2020-07-01-kongregate-no-longer-accepting-new-titles-undergoing-layoffs
Meghna Jayanth: https://twitter.com/betterthemask

View Details

[CONTENT WARNING] This episode features discussion about the stories of sexual abuse and assault that have emerged in the game industry. Discussion begins at :30 and ends at 28:00. Other topics include Mixer’s sudden demise, the $1m Hobbit prototype (and why that isn’t quite as expensive as people may think), Epic Game Store’s growth, just what “Optimized for Xbox Series X” means, and why Microsoft is planning on an early Xbox Series X “All Access” purchase model.

Ubisoft to investigate rampant sexual assault and harassment accusations: https://gamasutra.com/view/news/365520/Ubisoft_to_investigate_rampant_sexual_assault_and_harassment_accusations.php
Internal Ubisoft Statement via Jason Schreier (Bloomberg): https://twitter.com/jasonschreier/status/1276533429815910402?s=20
Twitch partnerships director accused of sexual assault (Dexerto): https://www.dexerto.com/general/twitch-partnerships-director-accused-of-sexual-assault-1384801
Just Add Monsters - JAM Sessions Ep. 8: The Game Industry's Journalism Problem (Feat.Nathalie Lawhead): https://www.youtube.com/watch?v=G4-62in-JlY
The Next Step For Mixer: https://blog.mixer.com/2020/06/22/the-next-step-for-mixer/
Ready at Dawn acquired by Oculus/Facebook: https://www.oculus.com/blog/welcoming-ready-at-dawn-to-facebook/
The Evolution of the Oculus Platform: https://www.oculus.com/blog/an-update-on-the-evolution-of-the-oculus-platform-/
We Spent Over $1,000,000 Pitching a Video Game We Never Made: https://www.youtube.com/watch?v=grwnHJykybM&feature=youtu.be
Xbox Series X difference will be immersion more than visuals, Spencer says: https://www.gamesindustry.biz/articles/2020-06-24-xbox-series-x-difference-will-be-immersion-more-than-visuals-spencer-says
Xbox Series X: Embrace the Full Power of the Console with Games Optimized for Xbox Series X (Xbox Wire): https://news.xbox.com/en-us/2020/06/25/xbox-series-x-full-power-of-console-games-optimized/
Xbox head says console subscription model ‘will be critical to Series X launch and the next-gen’ (VGC): https://www.videogameschronicle.com/news/xbox-head-says-console-subscription-model-will-be-critical-to-series-x-launch-and-the-next-gen/
Steam introduces gamified reviews: https://twitter.com/simoncarless/status/1276199837461917696

View Details

It’s our first returning guest! Manda and Mike welcome GLITCH CEO Evva Karr back to the show to discuss the Galaxy Fund. This grant fund will first be received by 4 black women and a non-binary creator, each starting out on their next (or, in some cases, first) projects.

References:

https://www.catalyst.org/research/women-of-color-in-the-united-states/
https://hbr.org/2018/08/how-women-of-color-get-to-senior-management

View Details

It’s Not-E3, and there’s a lot to cover! We start with a look at GameStop’s disastrous first quarter financials before taking a deep look at the executive compensation problems in the industry, and Activision Blizzard in particular (38 min). We wrap with trends we saw coming out of the Not-E3 blitz (1:02), along with some tips of the hat to stand-out developers, publishers, and games. Let’s go!

Disney's Complicated Relationship With Video Games: https://gamedaily.biz/article/588/disneys-complicated-relationship-with-video-games
GameStop Earnings: http://news.gamestop.com/home
EA, Madden NFL 21, Xbox Series X: https://www.ea.com/sports/nextlevel
Xbox players have spent $1.4 billion on ID@Xbox games: https://www.gamesindustry.biz/articles/2020-06-08-xbox-players-have-spent-usd1-4-billion-on-id-xbox-games
Activision Blizzard shareholders upset over CEO Bobby Kotick's compensation: https://www.gamesindustry.biz/articles/2020-06-04-activision-blizzard-shareholders-upset-over-ceo-bobby-koticks-compensation
CtW SEC Filing: https://www.sec.gov/Archives/edgar/data/718877/000137773920000037/activision20shltr.htm
Black People Are Always The Side Story: https://www.vice.com/en_us/article/ep4z5w/black-people-are-always-the-side-story
Whitethorn Digital receives $1.2m Opportunity Zone investment: https://www.gamesindustry.biz/articles/2020-06-17-whitethorn-digital-receives-usd1-2m-investment-from-erie-insurance-opportunity-zone-fund

View Details

Voice actor, musician, and performance director Troy Baker joins us to discuss his career, advice for up-and-coming performers, and the nuts and bolts of voice and performance capture. Without access to recording studios, voice actors have had to get creative and build their own recording setups. Troy explains how game studios and performers are making it work under quarantine.

View Details

Microsoft has detailed its big backward compatibility plans and Sony is set to reveal the first PlayStation 5 gameplay. Mike and Manda discuss why this generation is about more than hardware, as the two major competitors walk down different philosophical paths. Topics also include: Blizzcon 2020, GeForce Now’s attempt at fixing its partner relationships, Tencent’s investment in Marvelous, EA’s renewed NFL contract, and how some analyst perspectives become “fact” via the Telephone Game.

Black lives matter. You can donate to the Minnesota Freedom Fund here: https://minnesotafreedomfund.org/donate

There will be no Blizzcon in 2020: https://blizzcon.com/en-gb/news/23434523

Update on GeForce Now Library: https://blogs.nvidia.com/blog/2020/05/27/geforce-now-library-may/

Tencent isn’t just Ubisoft’s savior — it’s the world’s biggest gaming company (Polygon): https://www.polygon.com/2018/3/29/17172326/tencent-ubisoft-explained

Tencent buys 20% stake in Marvelous (Reuters): https://www.reuters.com/article/us-tencent-marvelous/japans-marvelous-shares-jump-17-as-chinas-tencent-takes-20-stake-idUSKBN2320F3

2K returns to making NFL video games, but not a Madden competitor (Polygon): https://www.polygon.com/2020/3/10/21172310/nfl-2k-sports-football-video-games-deal-ea-madden

Grand Theft Auto VI in 2023? Take-Two SEC filing hints at release date (correction) (GamesBeat): https://venturebeat.com/2020/05/26/grand-theft-auto-vi-in-2023-take-two-sec-filing-hints-at-release-date/

Xbox Series X backward compatibility detailed: https://news.xbox.com/en-us/2020/05/28/xbox-series-x-next-generation-backward-compatibility/

New PS4 games must also run on PlayStation 5 from July, Sony tells devs (Eurogamer): https://www.eurogamer.net/articles/2020-05-29-new-ps4-games-must-be-playstation-5-compatible-from-july-sony-tells-devs

Sony's Jim Ryan: “It's time to give fans something that can only be enjoyed on PlayStation 5” (GamesIndustry.biz): https://www.gamesindustry.biz/articles/2020-05-29-sonys-jim-ryan-its-time-to-give-fans-something-that-can-only-be-enjoyed-on-playstation-5

View Details

Everything comes back to Halo in Kari Toyama’s fascinating career. The Lead Producer on V1 Interactive and Private Division’s Disintegration joins us to talk about her love of Halo 2, her start in QA, how she built Private Division’s QA operation, and how the pandemic impacted her work and Disintegration’s development as production neared the finish line.

View Details

It’s earnings time again! In a very special episode of Virtual Economy, Mike and Manda take a look at Take-Two, Ubisoft, Embracer Group, and more. Who had huge years, and who took a tumble? Find out in a bonus financial report episode.

View Details

You get a lawsuit. YOU get a lawsuit. EVERYBODY gets a lawsuit. Ubisoft is suing Apple and Google. Nintendo is going after Switch hackers. G2A is finally paying up for selling stolen keys (but still tries to claim victory). Mike and Manda give you everything you need to know as everyone is headed to court. Except us. Please don’t sue us.

Starbreeze attempts to stop Q2 FY19 bleeding with one-time revenue injections:

https://gamedaily.biz/article/1151/starbreeze-attempts-to-stop-q2-fy19-bleeding-with-one-time-revenue-injections

Ubisoft sues Apple and Google for selling a Rainbow Six Siege Clone (Engadget): https://www.engadget.com/ubisoft-sues-apple-google-over-siege-clone-174404967.html

Ejoy announces Area F2 service closure: https://www.areaf2.com/m/news/news.html?ln=EN&newId=5437

The Culling is keeping its pay-to-play system, but Xaviant regrets how it was announced (PC Gamer): https://www.pcgamer.com/the-culling-is-keeping-its-pay-to-play-system-but-xaviant-regrets-how-it-was-announced/

Nintendo files lawsuits in crackdown against Switch hackers (Polygon): https://www.polygon.com/2020/5/18/21262121/nintendo-switch-hacking-lawsuit-pirated-games

G2A's recent comments and business practices put itself at odds with developers, media (GameDaily): https://gamedaily.biz/article/1032/g2as-recent-comments-and-business-practices-put-itself-at-odds-with-developers-media

View Details

Shawn Alexander Allen visits the show to discuss his work on the recently-released Treachery in Beatdown City, the Game Devs of Color Expo, and his path from video game retail worker to AAA game capture work at Rockstar and why he decided to forge his own path as an indie developer in New York City.

View Details

Creating a business that can stand the test of time is a combination of skill and luck. Mike and Manda are joined by Petricore Games co-founder Ryan Canuel to discuss bootstrapping and creative funding. Find out how Petricore, which is celebrating its five-year anniversary, balanced non-games work-for-hire with its game development.

Dogfight on Steam: https://store.steampowered.com/app/1266900/Project_DogFight/

Virtual Economy: Recent Episodes

Michael Futter