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: Microsoft bullish on Xbox supply chain; Tencent replaces DouYu and Huya directors; and Big Run Studios raises USD$1.4m (£1.2m) from Galaxy Interactive. Microsoft bullish on Xbox supply chain Microsoft CEO Satya Nadella has responded to concerns over Xbox Series X hardware manufacturing due to the ongoing outbreak of the Covid-19 strain of coronavirus, telling CNBC’s Jon Fortt, “On the supply side we are getting back on rails.” However, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Cloud gaming to reach USD$56.57bn (£48.80bn) by 2027; DreamCraft raises USD$3m (£2.6m); and Google Stadia partners with Unity. Cloud gaming to reach USD$56.57bn by 2027 The global cloud gaming market is forecast to reach USD$56.57bn (£48.80bn) by 2027, representing a CAGR from 2018 of 15.7%, according to estimates from Fortune Business Insights. Several factors have been cited as drivers towards this growth, including the increased adoption of online [...]

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 [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Scopely raises USD$200m (£173.1m) for M&A; The Sandbox secures USD$2.01m (£1.74m); Robin Games secures USD$7m (£6.05m) seed funding; and Mainframe Industries raises €7.6m (£7.1m). Scopely raises USD$200m (£173.1m) for M&A Los Angeles-based mobile publisher Scopely has secured USD$200m (£173.1m) in Series D funding, with investment primarily coming from media group Advance and consumer investment firm The Chernin Group. The latest haul, which takes Scopely’s total funding to USD$658.7m [...]

In this special exclusive contributed piece, Dimoso CEO Jacki Vause considers the fine art of publishing mobile games to China. Vause is a widely respected veteran of the tech, mobile and PR space, has been named one of PCR’s Top-30 Women in Mobile, and is an experienced entrepreneur and founder. — China should be considered by all mobile games developers who are looking to take their games global. Over the years I have represented many developers and publishers both from the East [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent revenue up 21%; video game usage rises amid Covid-19; and users prefer non-intrusive gaming ads to display units. Tencent revenue up 21% Tencent Holdings Limited has posted its financial results for the fourth quarter and full-year 2019, with its annual revenue climbing by 21% from the previous year to CN¥337.29bn (£40.38bn), moreover operating profit increased by a similar measure (22%) to CN¥118.69bn (£14.21bn). Income from its gaming [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Genvid raises USD$6m (£4.9m); Miniclip acquires Eight Pixels Square; and Gfinity lowers revenue expectations. Genvid raises USD$6m (£4.9m) Interactive streaming technology provider Genvid Technologies has announced it has raised an additional USD$6m (£4.9m) in funding, taking its Series B round to USD$33m (£27m), and total investment to USD$53m (£44m) to date since its formation in 2016. The latest tranche comes courtesy of NTT Domoco Ventures, Samsung Ventures, and [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Bazooka Tango raises USD$2.5m (£2.0m); Samsung to shutter PlayGalaxy Link; and Impressivo secures Series A funding. Bazooka Tango raises USD$2.5m (£2.0m) Nascent studio Bazooka Tango, formed by the former development team of mobile MMO Vainglory from Super Evil Megacorp, has raised USD$2.5m (£2.0m) in Series A funding. The round was led by Bitkraft Esports Ventures, with additional participation from MTG, Mergelane, and a selection of unnamed investors. The [...]