Live music, film, TV, health, and social networking. Once distinct sectors with limited overlap with the video games sector, in recent months we have seen increased crossover between each of these and gaming, fuelled by the ever-increasing adoption of digital, the persistent engagement of video game audiences, and the temporary halt of physical events in the wake of Covid-19. While music festivals have faced postponement, in-game concerts in multiplayer platforms such as Roblox, Minecraft, and Fortnite, are thriving. After a [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Magic Leap raises USD$350m (£286m); McLaren Racing partners with Veloce Esports; and MyGamez closes funding round. Magic Leap raises USD$350m (£286m) Magic Leap has raised USD$350m (£286m) from a series of new and existing investors, according to an internal memo circulated by CEO Rony Abovitz obtained by Business Insider. At this stage the augmented reality startup has not confirmed which of its previous investors, which include Alibaba, AT&T, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: XR to generate USD$6.3bn (£5.1bn) in 2020; Raven raises USD$1.4m (£1.1m); and demand for Chinese localisation falls. XR to generate USD$6.3bn (£5.1bn) in 2020 The global extended reality (XR) hardware and software market is expected to generate revenue of USD$6.3bn (£5.1bn) in 2020, according to projections released by SuperData. This figure is a downward revision from the USD$7.7bn (£6.2bn) estimate published in January this year by the Nielsen-owned [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Digital games spend hits record USD$10bn (£8.1bn); Epic targets new funding; and Magic Leap lays off approximately 1000 staff. Digital games spend hits record USD$10bn (£8.1bn) Global digital games revenue reached USD$10.0bn (£8.11bn) in March according to estimates released by SuperData, the highest monthly total ever recorded by the firm and a 11% increase from the USD$9.0bn (£7.3bn) observed in 2019. Lockdown measures imposed as a result of [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Samsung Ventures ups DigiLens investment; Nintendo to boost Switch production; and Unruly partners with Ampverse for esports video investment programme. Samsung Ventures ups DigiLens investment Samsung Venture Investment Corporation has announced that it has increased its investment in extended reality (XR) hardware manufacturer DigiLens through the issuance of convertible bonds. DigiLens specialises in the production of its waveguide display components, which purportedly can be produced at a significantly [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Niantic acquires 6D.ai; iDreamSky and CVC to lower Leyou bid; and mobile gaming on the rise during Covid-19. Niantic acquires 6D.ai Niantic has acquired fellow augmented reality (AR) firm 6D.ai for an undisclosed sum, as it bids to expand its offering within gaming as well as to other enterprise applications. 6D.ai is based in San Francisco and has built a range of APIs allowing smartphone cameras to detect [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Bazooka Tango raises USD$2.5m (£2.0m); Samsung to shutter PlayGalaxy Link; and Impressivo secures Series A funding. Bazooka Tango raises USD$2.5m (£2.0m) Nascent studio Bazooka Tango, formed by the former development team of mobile MMO Vainglory from Super Evil Megacorp, has raised USD$2.5m (£2.0m) in Series A funding. The round was led by Bitkraft Esports Ventures, with additional participation from MTG, Mergelane, and a selection of unnamed investors. The [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games acquires Cubic Motion; USD$4.1bn (£3.2bn) invested in XR in 2019; Super League Gaming posts net loss of USD$30.6m (£24.1m); and GameStop shareholders demand board representation. Epic Games acquires Cubic Motion Epic Games has acquired Manchester-based facial animation technology firm Cubic Motion for an undisclosed sum. The acquisition is not thought to result in any job losses, while current contracts held by the acquired firm will be [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Global esports revenue to hit USD$1.1bn (£848m); Facebook acquires Sanzaru Games; and PlatinumGames establishes new studio. Global esports revenue to hit USD$1.1bn (£848m) The esports economy is predicted to generate global revenue of USD$1.1bn (£848m) in 2020, an increase of 15.7% from the USD$950.6m (£732.8m) generated last year, according to the Global Esports Market Report 2020 published by Newzoo. Approximately USD$822.4m (£634.0m), or 74.8% of total global esports [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Google rolls out hypercasual platform for low spec devices and networks; CD Projekt now Europe’s second-largest game company; and Oculus making ‘significant headway’ against HTC’s VR effort. Google rolls out hypercasual platform for low spec devices and networks Google’s experimental tech ‘workshop’ Area 120 has launched Gamesnacks, a new HTML5-based mobile gaming platform that supports lower-spec phones, as well as networks such as 2G and 3G. Geared towards fast [...]