TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Take-Two posts record Q4 financials; Tencent acquires System Shock 3 licence; and G2A settles USD$40,000 (£32,600) key sales dispute. Take-Two posts record Q4 financials Take-Two has posted company-record net revenue for the fourth quarter ended March 31st 2020, with the New York-based holding company generating USD$760.5m (£620.7m), up 41% from the equivalent period last year. This growth was driven by a 40% increase in recurrent consumer spend through [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent online game revenue climbs 31%; Unreal Engine royalty-free up to USD$1m (£815,000); and FACEIT to manage North American Rainbow Six Siege esports. Tencent online game revenue climbs 31% Tencent online gaming revenue climbed by 31% year-on-year during the first quarter of 2020, reaching CN¥37.29bn (£4.389bn), driven by the strong performance of its smartphone portfolio, with both domestic titles (Peacekeeper Elite and Honour of Kings) and international releases [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Sony gaming revenue declines by 14%; Parsec raises USD$7m (£5.7m); and Sleeper raises USD$20m (£16m). Sony gaming revenue declines by 14% Sony has announced its financial results for the year ending 31st March 2020, with its game and network services revenue falling by 14% year-on-year to JP¥1.977tn (£14.96bn), with operating income for the division having contracted by 23.4% to JP¥238.4bn (£1.803bn). The declining performance has been attributed to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Nintendo revenue hits JP¥1.308tn (£9.94bn); Zynga posts USD$104m (£83.9m) loss despite record revenue; and Endeavor eyes Epic Games stake sale. Nintendo revenue reaches JP¥1.308tn (£9.94bn) Nintendo has released its earnings for the financial year ending 31st March 2020, with revenue increasing by 9% year-on-year to hit JP¥1.308tn (£9.94bn) with double-digit percentage gains seen across both hardware sales, up 24% to 21.03 million units, and software, up 42.3% to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Dazzle Rocks raises USD$6.8m (£5.5m); MTX driving EA and Activision Blizzard bookings; and THQ Nordic and Koch Media swap IPs. Dazzle Rocks raises USD$6.8m (£5.5m) Mobile developer Dazzle Rocks has announced that it has closed a Series A funding round worth USD$6.8m (£5.5m), which will be used to support the launch of its cooperative sandbox MMO title, due to enter open beta in Western markets in the coming [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Bublar Group to acquire Goodbye Kansas; Xbox Game Pass reaches 10 million subscribers; and majority of genres seeing player increases. Bublar Group to acquire Goodbye Kansas Swedish XR technology and visualisation firm Bublar Group AB has reached an agreement to acquire visual effects services company Goodbye Kansas for approximately SEK56m (£4.6m) through the direct issuance of 16.4 million shares at a fixed purchase price. The announcement notes that [...]

Companies within the video game ecosystem have begun to share their consolidated financial results for the quarters ending March 31st and April 30th 2020, with many noting the initial effect of the Covid-19 coronavirus pandemic on their bottom line. Here, you can find a summary of each company’s performance throughout the quarter, along with links to full financial reports where available. Last updated: 22nd May. This article will be updated periodically to reflect new releases. To list your company’s financial [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: GameStop surpasses earnings expectations; ASOdesk raises USD$1m (£833,000); and Tribe Gaming raises USD$1m (£833,000). GameStop surpasses earnings expectations Video games retailer GameStop has published its financial results for the fourth quarter and full financial year ending February 1st 2020. While net sales over the course of the year fell by 21.8% over the course of the year to USD$6.466bn (£5.389bn), the retailer reduced its debt by a measure [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Razer revenue reaches USD$821m (£694m); Fritz AI raises USD$5m (£4.2m); and estimated MTG esports revenue down 35%-45%. Razer revenue reaches USD$821m (£694m) Gaming technology firm Razer has announced its annual financial results for the year ended December 31st 2019, with revenue climbing by 15.2% year-on-year to reach a company record level of USD$820.8m (£693.6m). Excluding its mobile handset business, which it has now exited, Razer achieved adjusted EBITDA [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Valve softens rhetoric against Steam competition; Bohemia Interactive grosses USD$68m (£58m); and Amuka Esports acquires Incendium Gaming. Valve softens rhetoric against Steam competition Valve CEO and co-founder Gabe Newell has softened the company’s rhetoric against competition for its Steam storefront. Writing in Edge Magazine, Newell stated that competition is “awesome for everybody” and helps stores release new features and constantly finesse their respective relationships with developers. Newell’s comments [...]