Virtual Economy: Recent Episodes
Virtual Economy
Joining us on this episode is friend of the show Mat Piscatella, Executive Director and Video Game Industry Advisor at Circana. Our discussion includes the state of the industry, the component crisis and hardware costs,...
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...
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…...
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...
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,...
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...
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...
2026 is putting us through our paces right out of the gate (leading us to some unfortunate episode title symmetry with last year’s season finale). We’re hanging onto hope, but layoffs, consolidation, and private equity...
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...
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...
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?
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.
After 33 years, GameStop has shuttered Game Informer. Also: Earnings time is here, more Bungie layoffs, Circana report for June 2024, voice actors on strike and more.
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.
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...
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.
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.
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.
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!
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...
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.
Triple-A game development is unsustainable. No matter whether your game succeeds or fails, the corporate machine is grinding developers up and spitting them out by the thousands. Things need to change.
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...
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.
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...
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...
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...
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.
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...
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.
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...
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.
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
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
he 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
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
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
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
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.
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 more context, you can 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!
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!
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...
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
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.
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.
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.
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.
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.
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!
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
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
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
- [00:02:32] - Microsoft FY23 Q1 Earnings
- [00:23:20] - Sony FY23 Q2 Earnings
- [00:32:01] - Capcom FY23 Q2 Earnings
- [00:37:04] - Paradox FY22 Q3 Earnings
- [00:42:43] - Remedy FY22 Q3 Earnings
- [00:46:41] - Sega FY23 Q2 Earnings
- [00:58:10] - Electronic Arts FY23 Q2 Earnings
- [01:03:35] - Investment Interlude
- [01:08:15] - Quick Hits
- [01:11:02] - 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
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
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
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
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, Square Enix reconsiders how it approaches studio ownership, 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!
- [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
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
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:] - Unity Q2 FY22 Earnings
- [00:] - Take-Two Q1 FY23 Earnings
- [00:] - Thunderful Group H1 FY22 Earnings
- [00:] - Remedy H1 FY22 Earnings
- [00:] - Embracer Group Q1 FY23 Earnings
- [00:] - Investment Interlude (Embracer Group Spending Spree)
- [00:] - Quick Hits
- [00:] - Labor Report (Nintendo, Activision)
- [00:] - 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
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
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
We talk a lot about diversity, equity, and inclusion on this show. I 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.
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
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
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
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
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?
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.
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
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
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