TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Apple terminating Arcade games for retention; PlayBrain raises USD$6m (£5m); and Mountaintop Studios formed. Apple terminating Arcade games for retention Apple Inc. is reportedly cancelling development contracts with partners for its Apple Arcade service as it seeks to improve customer retention on the fledgling platform. According to anonymous sources speaking to Bloomberg, Apple has been informing developers of certain in-production titles that their new titles lacked sufficient engagement, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent launches Twitch rival; Microsoft to close all physical retail outlets; and BS2 pivots sponsorship efforts to esports. Tencent launches Twitch rival Chinese technology conglomerate Tencent Holdings Ltd. has launched a mobile-focused video game streaming network in the United States, branded as Trovo Live, and will roll out a USD$30m (£24m) partnership programme for the nascent service from July until the close of 2021. Ostensibly, the platform is [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Stillfront Group raises SEK1.2bn (£102m); Nintendo mooting mobile withdrawal; and eUnited to merge with Backstageplay. Stillfront Group raises SEK1.2bn (£102m) Developer-publisher Stillfront Group AB has announced that it has raised SEK1.2bn (£102m) in a directed share issuance to both Swedish and international investors, with the funds to be used to support its acquisition strategy alongside identifying nascent market growth opportunities. To-date, the Stockholm-based group has acquired 14 studios [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Grishin Robotics raises USD$100m (£80.1m) fund; China iOS games to require government approval; and FaZe Clan gains stake in CTRL. Grishin Robotics raises USD$100m (£80.1m) fund Silicon Valley investment firm Grishin Robotics, founded by Mail.ru Group Founder and Chairman Dmitry Grishin, has raised USD$100m (£80.1m), in a move which will see the vehicle expand from its traditional territory of hardware into video gaming and interactive entertainment, alongside educational [...]

Esports tournament and broadcasting platform Boom.tv, best known for organising the Code Red competitive gaming series, has raised USD$10m (£8.1m) in an oversubscribed Series A funding round led by BITKRAFT Esports Ventures. Alongside the tournament series, the San Mateo-based platform offers esports content hosting and broadcasting. Speaking exclusively to TheGamingEconomy, Sumit Gupta, CEO of Boom.tv revealed that the funding will be used to support design updates “that will improve user experience, simplify sharing across networks and improve broadcast stability”, while introducing [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Gen.G partners with Puma; organisational changes at Arc System Works; and Brøndby IF expands hummel partnership to esports. Gen.G partners with Puma German sports clothing brand Puma has announced that it has entered into a partnership with esports organisation Gen.G Esports, which will see the firm supply the Los Angeles-based team’s players and content creators with merchandise. Though financial terms and duration of the collaboration have not been [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Activision Blizzard shareholders file CEO pay complaint; Cloud9 partners with Guinevere Capital; and NetEase establishes first console studio. Activision Blizzard shareholders file CEO pay complaint Voting advisory bodies Institutional Shareholder Services (ISS) and Glass Lewis & Co., backed by activist shareholder CtW Investment Group, have filed a document with the Securities and Exchange Commission (SEC) recommending that Activision Blizzard stakeholders vote against an upcoming proposal to remunerate long-standing [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: DoubleDown Interactive in USD$100m (£79.8m) IPO; Nexon to invest USD$1.5bn (£1.2bn) in global entertainment companies; and Giants Gaming acquires x6tence. DoubleDown Interactive in USD$100m (£79.8m) IPO Social and casino developer-publisher DoubleDown Interactive has submitted filings with the SEC for an initial public offering (IPO) on the Nasdaq stock exchange, with its shares to be traded under the symbol DDI. The Seattle, Washington-based firm intends to raise up to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Nvidia GeForce NOW pivots to opt-in model; Carry1st raises USD$2.5m (£2.0m); and TeamSpeak partners with Activision Blizzard. Nvidia GeForce NOW pivots to opt-in model Nvidia have announced that developers and publishers will now have to opt-in to listing their titles on its GeForce NOW cloud gaming service, as opposed to requesting the removal of IP if they do not want it to be playable on the platform. The [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent to invest CN¥500bn (£57.0bn) in infrastructure; League of Legends adds in-game banners; and Renegades CEO fined USD$15,000 (£12,000) by FINRA. Tencent to invest CN¥500bn (£57.0bn) in infrastructure Dowson Tong, Senior Executive Vice President at Tencent Holdings Ltd. has announced that the Chinese conglomerate will be investing approximately CN¥500bn (£57.0bn) in infrastructure over the next five years, with aims to both support and diversify from its video game [...]