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TGE Index Investment Report - Q4 & Year-End 2020
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: HP acquires HyperX for USD$425m (£300m); Thunderful in €11m (£9.4m) Headup acquisition; and BebopBee raises USD$2m (£1.4m). HP acquires HyperX for USD$425m (£300m) HP Inc. has announced that it is set to acquire gaming peripherals and console accessories brand HyperX from Kingston Technology Company for a total consideration of USD$425m (£300m). Notably the deal only concerns HyperX’s peripherals portfolio, with Kingston set to retain its DRAM, flash, and [...]
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HP Acquires HyperX for USD$425m; Thunderful in €11m Headup Acquisition
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: HP acquires HyperX for USD$425m (£300m); Thunderful in €11m (£9.4m) Headup acquisition; and BebopBee raises USD$2m (£1.4m). HP acquires HyperX for USD$425m (£300m) HP Inc. has announced that it is set to acquire gaming peripherals and console accessories brand HyperX from Kingston Technology Company for a total consideration of USD$425m (£300m). Notably the deal only concerns HyperX’s peripherals portfolio, with Kingston set to retain its DRAM, flash, and [...]
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Embracer Group sales up 44%; Artie Raises USD$10m
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group sales up 44%; Artie raises USD$10m (£7.2m); and Epic submits EU antitrust complaint against Apple. Embracer Group sales up 44% Embracer Group has released its financial results for the third quarter of its 2020-2021 fiscal year, revealing that its net sales increased by 44% to SEK2.168bn (), with its video game operations climbing to SEK1.356bn, up 62% year-over-year. Profitability also increased sharply, with operational EBIT near-doubling [...]
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ESE Acquires WPG; Colossi Games Raises USD$2.5m
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: ESE acquires WPG; Colossi Games raises USD$2.5m (£1.8m); and Starbreeze reduces losses in 2020. ESE acquires WPG ESE Entertainment Inc. has announced that it is set to acquire esports fan engagement infrastructure provider World Phoning Group (WPG) for CAD$888,019 (£504,051) in cash and 7,250,001 newly issued common shares, valued at CAD$19,357,502 (£10,987,570) at the time of writing. Following the closure of the transaction, WPG and its European subsidiaries [...]
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Playtonic Launches Publishing Division; Remedy Reports Record Revenue
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Playtonic launches publishing division; Remedy reports record revenue; and Nitro Games revenue climbs by 43.5%. Playtonic launches publishing division British developer Playtonic Games, best known for Yooka-Laylee franchise, has announced that it has launched an internal publishing division for third-party indie titles, dubbed Playtonic Friends. At launch, the Burton-on-Trent-based firm has partnered with three studios, namely Awe Interactive; Fabraz; and Okidokico, to support the release of three as-yet [...]
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Zynga Posts Record Revenue & Loss; Tencent Invests in Bohemia Interactive
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Zynga posts record revenue and loss; Tencent invests in Bohemia Interactive; and Digi Game trio secure funding from WePlay Ventures. Zynga posts record revenue and loss US mobile developer-publisher Zynga has reported company-record annual revenue of USD$1.97bn (£1.42bn) over 2020, representing a 49% increase from last year. The record takings were driven by sharp increases in user pay revenue, up 59% to USD$1.67bn (£1.21bn), and advertising revenue, which [...]
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Activision Blizzard Exceeds Revenue Forecast; Phoenix Games acquires SmileyGamer
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Activision Blizzard exceeds revenue forecast; Phoenix Games acquires SmileyGamer; and Google exploring Android anti-tracking feature. Activision Blizzard exceeds revenue forecast Activision Blizzard has released its financial results for the fourth quarter and year ending 31st December 2020, revealing that net revenue for the year totalled USD$8.086bn, representing a 20.9% increase from 2019. Revenue for Q4 totalled USD$2.413bn, which exceeded analyst expectations of USD$2.001bn. The climb in bookings has [...]
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Nintendo Boosts Revenue Forecast to JP¥1.6tn; Sumo Group Acquires PixelAnt Games
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Nintendo boosts revenue forecast to JP¥1.6tn (£11.1bn); Sumo Group acquires PixelAnt Games; Riot Games again seeking arbitration in gender discrimination lawsuit. Nintendo boosts revenue forecast to JP¥1.6tn (£11.1bn) Nintendo has increased its revenue forecast for its 2020-2021 financial year to JP¥1.6tn (£11.1bn), following a quarter in which it eclipsed its previous target of JP¥1.4tn (£9.75bn). For the nine months ended 31st December 2020, the Japanese games industry mainstay [...]
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Microsoft Gaming Revenue Climbs by 51%; Qiiwi Games Secures SEK66.5m
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Microsoft gaming revenue climbs by 51%; Qiiwi Games secures SEK66.5m (£5.85m); and Bally’s Corporation Acquires Monkey Knife Fight. Microsoft gaming revenue climbs by 51% Microsoft has released its financial results for the second quarter, ended 31st December 2020 of its fiscal year, revealing that its gaming revenue for the quarter grew by 51% to a company-record USD$5.031bn (£3.674bn). This was driven by the release of its next-generation Xbox [...]
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CD Projekt Under Consumer Protection Scrutiny; Publicis Launches Dedicated Gaming Offering
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: CD Projekt under consumer protection scrutiny; Publicis launches dedicated gaming offering; and Venatus hires seven amid 38% growth. CD Projekt under consumer protection scrutiny CD Projekt has fallen under the scrutiny of the Polish Office of Competition and Consumer Protection (UOKiK) over the poor technical performance of its recently-released flagship title Cyberpunk 2077 on PlayStation 4 and Xbox One consoles. As outlined by UOKiK press officer Małgorzata Cieloch [...]
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Leaf Mobile in Company-Record Quarter; VR Headset Sales to Reach 6.4 Million in 2020
TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Leaf Mobile in company-record quarter; VR headset sales to reach 6.4 million in 2020; and Yoplait to sponsor LDN UTD. Leaf Mobile in company-record quarter Vancouver-based Leaf Mobile, a studio which specialises in “counter-culture” themed titles, has announced company-record revenue of CAD$11.1m (£6.41m) over the third quarter ended 30th September 2020, marking the third consecutive quarter of growth for the firm. During the three months Leaf posted a [...]