TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Sony launches immersive music division; Ubisoft partners with Lucasfilm on Star Wars title; and Tilting Point to invest USD$10m (£7.3m) in Storytaco’s Dangerous Fellows. Sony launches immersive music division Japanese technology conglomerate Sony has announced the launch of a new subsidiary during CES 2021, Sony Immersive Music Studios, focusing on developing experiences at the intersection of music, immersive entertainment, and video gaming. The debut demonstration of the initiative [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: EA usurps Take-Two in Codemasters takeover; Roblox to delay IPO; and ForeVR launches with USD$1.5m (£1.1m) in funding. EA usurps Take-Two in Codemasters takeover Electronic Arts (EA) has reached an agreement to acquire British racing game studio Codemasters in an all-cash deal valued at USD$1.2bn (£906m), usurping the previous £726m deal brokered between Codemasters and Take-Two Interactive Software. In terms of rationale, statements released by EA and Codemasters discuss [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Microsoft acquires Smash.gg; GreenPark Sports secures USD$14m (£10m); and VisiSonics raises USD$3.5m (£2.6m) for 3D sound technology. Microsoft acquires Smash.gg Microsoft has acquired esports tournament organisation platform Smash.gg for an undisclosed sum. The networking firm, operating out of San Francisco, will continue to operate as independent unit under the Microsoft Content Services division, bolstering the MSN Esports hub. Microsoft has yet to release further details on the acquisition, [...]

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 [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Survios raises USD$16.7m (£12.9m); quarter of Ubisoft employees experienced misconduct; game streaming retains momentum. Survios raises USD$16.7m (£12.9m) Los Angeles-based VR developer Survios has raised USD$16.7m (£12.9m) in a venture funding round led by SeAH Group’s investment vehicle Irongrey and supported by Woori Technology Investment; KNET Venture Fund; Seoul Investment Partners; Shasta Ventures; Lux Capital; and Samsung Next. The investment will be used for recruitment and to support [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group acquires Vertigo Games; Zwift raises USD$450m (£349m); and Wisdom Gaming Group secures USD$3m (£2.3m). Embracer Group acquires Vertigo Games Embracer Group AB has announced that its wholly-owned subsidiary Koch Media GmbH is set to acquire Rotterdam-based VR developer-publisher Vertigo Games for an initial consideration of €50m (£46m), consisting of €40m (£37m) in cash and €10m (£9.2m) in newly issued Class B share capital. A maximum additional [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Sony cuts PS5 production by four million units; Facebook Oculus Quest 2 leaked; and CNET Media Group sold to Red Ventures for USD$500m (£389m). Sony cuts PS5 production by four million units Sony Corp. has cut the estimated production run for its upcoming PlayStation 5 console by four million units, with the Japanese conglomerate now planning on shipping 11 million devices for the 2020-2021 financial year, according to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Riot Games terminates Neom partnership; Volograms raises €1.5m (£1.4m); and Konami enters PC hardware market. Riot Games terminates Neom partnership Riot Games has announced that it has terminated the partnership between its League of Legends European Championship (LEC) division and Saudi Arabian city building project Neom, just a day since the collaboration was agreed. The cancellation comes after staunch criticism of the deal over Saudi Arabia’s human rights [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Vindex raises USD$300m (£232m) and acquires GAME’s Belong; mobile app and game fraud falls 30%; and Polyarc raises USD$9m (£7m). Vindex raises USD$300m (£232m) and acquires GAME’s Belong New York-based esports startup Vindex has raised USD$300m (£232m) in funding from as-yet undisclosed sources, and will acquire UK retailer GAME‘s Belong Gaming network of gaming sites in a deal valued at approximately USD$50m (£39m). According to a report published [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huuuge Games acquires Double Star; EU IMCP recommends new loot box approach; and 2020 XR forecast revised to USD$6.9bn (£5.4bn). Huuuge Games acquires Double Star Szczecin, Poland-based developer-publisher Huuuge Games has announced the acquisition of Finnish indie studio Double Star for an undisclosed sum. Double Star, which previously collaborated with Huuuge Games on the release of casual mobile RPG Bow Land, will operate as a subsidiary studio out [...]