TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Fortnite removed from App Store and Google Play – Epic Games to sue; ESE Entertainment raises over CAD$2.25m; and NetEase revenue up 25.9%. Fortnite removed from App Store and Google Play – Epic Games to sue Fortnite has been removed from both the Apple App Store and Google Play following an update which allowed players to purchase in-game currency directly from Epic Games, circumventing the mobile platforms’ purchasing [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group acquires eight studios; Tencent gaming revenue up 40%; and Stillfront Group EBITDA climbs 159%. Embracer Group acquires eight studios Karlstad-based video games holding company Embracer Group AB has announced that it has acquired eight separate firms encompassing developers, game service companies, and distributors, for a combined £61.67m. In summary, the acquisitions comprise of: – Maltese independent PC and console developer 4A Games Limited, acquired in full by [...]

Following company-record earnings for the second quarter, along with the USD$168m (£128m) acquisition of hyper-casual studio Rollic, Bernard Kim, President of Publishing at Zynga, speaks with TheGamingEconomy to discuss how the San Fransisco-based firm will maintain its growth over the course of the upcoming months. With daily active users returning to levels last seen in Q1, how does Zynga plan on retaining the momentum in player engagement seen throughout the height of the Covid-19 pandemic? As our results showed, we had the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Paradox Interactive revenue up 20%; MLB Deputy Commissioner joins Activision Blizzard; and Amazon rebrands Twitch Prime. Paradox Interactive revenue up 20% Paradox Interactive has revealed that its revenue increased by 20% year-over-year to SEK464.9m (£40.7m) for the second quarter of its financial year, ending 30th June 2020. During the quarter, operating profit also increased by the measure of 29% to SEK199.0m (£17.4m), with several titles identified as driving [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Zynga acquires Rollic; Nintendo profit up by 428%; Big Run Studios raises USD$5.25m (£4.00m); and Venatus partners with Frameplay. Zynga acquires Rollic Mobile gaming giant Zynga has announced that it has entered the hyper-casual market with the acquisition of Istanbul-based developer-publisher Rollic for a minimum cash consideration of USD$168m (£128m). As well as growing its audience by the measure of around 65 million monthly active users (MAUs), Zynga [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Activision Blizzard posts record Q2 results; Keywords Studios expects 13% revenue gain; and Ubisoft partners with Anzu.io. Activision Blizzard posts record Q2 results Activision Blizzard has joined fellow industry behemoths Electronic Arts (EA) and Take-Two Interactive in announcing company-record revenues for the previous financial quarter. GAAP net revenues surpassed the previously forecast USD$1.69bn (£1.29bn), climbing by 38.4% year-over-year to USD$1.932bn (£1.479bn), driven by a 45.9% boost to digital [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Take-Two Interactive revenue up 54%; Blizzard employees angered over pay disparity; and Ubisoft partners with Parsec. Take-Two Interactive revenue up 54% Take-Two Interactive Software Inc. has reported company-record results for the first quarter of the 2020-2021 financial year, with GAAP net revenue increasing by 54% to USD$831.3m (£626.2m) and net bookings up 136% to USD$996.2m (£762.4m). Recurrent player spending from in-game purchases within its existing properties including Grand [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: EA posts record quarterly results; Fnatic expands OnePlus partnership; and Mogul net operating cash flow falls by 35%. EA posts record quarterly results Electronic Arts (EA) has posted its results for the quarter ending June 30th, with revenue climbing by 21% year-over-year to a company-record USD$1.46bn (£1.12bn), despite only releasing two titles during the period, both of which were remasters of existing IP. The revenue growth was driven [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Ubisoft posts strong results amid abuse allegations; Mobalytics raises USD$11.25m (£8.846m); and Microsoft gaming revenue climbs 64%. Ubisoft posts strong results amid abuse allegations French developer-publisher Ubisoft has reported an increase of 17.6% year-on-year in quarterly sales over Q1 FY 2020-2021 to €410m (£372m), significantly higher than the targeted €335m (£304m) as gaming continues to see a spike in player attention through the coronavirus pandemic. Indeed, the Montreuil-based [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: GameStop posts USD$165m (£130m) loss; Playrix acquires Cateia Games; and Nintendo confirms 300,000 accounts may have been compromised. GameStop posts USD$165m (£130m) loss Retailer GameStop has recorded a net loss of USD$165.7m (£130.4m) for the first quarter of its 2020-2021 financial year, compared to a profit of USD$6.8m (£5.4m) from the equivalent period last year, as the majority of its stores were limited to roadside collection-only orders in [...]