Games Industry News- Page 22 of 123

Embracer Group Stocks Plummet Over 40% After Failed $2 Billion Partnership Deal

May 25, 2023 Marc Marasigan Comments

Embracer Group first made headlines in the MMO industry when it acquired Perfect World Entertainment’s western arm along with its subsidiary, Cryptic Studios. This gave the video game holding company access to several big-name MMOs, including Champion’s Online, Neverwinter, and Star Trek Online. Both PWE and Cryptic were later renamed and bundled under Gearbox Entertaintment as Gearbox Publishing. More recently, [...]

Enad Global 7 Investor Proposes Selling The Company To Rake In More Cash

May 24, 2023 Marc Marasigan Comments

Enad Global 7’s financial report for the first quarter of 2023 came out last week, showing record-setting performance for the company thanks to Daybreak and Piranha Games, as well as My Singing Monsters generating a boatload of cash. The good news is short-lived though as one of the company’s investors is apparently furious that EG7’s success isn’t generating enough publicity [...]

Indie Studio Rusty Lake Finds Its Username Already In Use On Discord

May 22, 2023 Marc Marasigan Comments

In the latest news about stolen names in the video game industry, indie game studio Rusty Lake found themselves unable to register their names on Discord following the chat platform’s recent decision to do away with the four-digit discriminator at the end of usernames. The studio was one of those who were given a chance to reserve a username early, [...]

The Division 2 Kicks Off Free-Play Event As Ubisoft’s Financials Take A Massive Dive

May 19, 2023 Marc Marasigan Comments

At the top of the year, Ubisoft warned investors that it’s going to be a bumpy ride for the studio financially. The numbers are now in for the fiscal year that ended in March, and it’s a lot grimmer than they expected. The French publisher’s latest financial report reveals a 15% drop in sales, an 18% decline in net bookings, [...]

CD Projekt Red Lays Off The Witcher Multiplayer Spinoff Developers

May 19, 2023 Marc Marasigan Comments

CD Projekt Red’s ambitious roadmap of new titles has hit a major roadblock as the studio puts one of its bigger in-development titles on the backburner indefinitely. Codenamed project Sirius, the game promised a unique blend of single-player and multiplayer elements set in The Witcher universe. Unfortunately, the studio said that it needed to reevaluate the game’s scope and commercial [...]

Ubisoft Dives Head First Into NFTs Again With Assassins Creed Smart Collectibles

May 17, 2023 Marc Marasigan Comments

Ubisoft's first foray into NFTs with Ghost Recon: Breakpoint was a colossal failure, but it seems they just can't resist another shot at the NFT game. This time, they're bringing the controversial technology to the beloved Assassin's Creed franchise. Brace yourselves for "smart collectibles" dubbed as "digital souls," which can be personalized with outfits, weapons, and poses. And here's the [...]

Amazon Announces Another Lord Of The Rings MMO In Partnership With Embracer

May 15, 2023 Marc Marasigan Comments

Remember that Lord of the Rings MMO that Amazon Game Studios cancelled back in 2021? Well, the game is now back on the drawing table as the studio partners with Embracer Group to finally get it done. Embracer Group is known around these parts as the company that bought out Perfect World Entertainment and Cryptic Studios back in 2021 before [...]

Riot Games Appoints New CEO As Nicolo Laurent Prepares To Step Down

May 14, 2023 Marc Marasigan Comments

Riot Games is in for a changing of the guard, as Nicolo Laurent will be stepping down as CEO with A. Dylan Jadeja poised to take his place. While this may sound like a major shake-up, it’s worth noting that Jadeja is currently the studio’s global president, so it's more of a lateral move. Laurent will remain with Riot as [...]

Square Enix Revenues Drop Over The Past Year As The Studio Dives Deeper Into Blockchain

May 14, 2023 Marc Marasigan Comments

final fantasy xiv endwalker warrior of light banner

Square Enix has released its 2022-2023 fiscal year report and the results aren’t great for the company’s primary gaming divisions. With total net revenues down by 6%, profit dipping by 3%, and a 13% drop in overall digital entertainment revenue, the report points out that disappointing sales of new HD games, underperformance of new mobile games, and the lack of [...]

Pearl Abyss Reports A Massive Dip In Revenue In Its Q1 2023 Investor Call

May 12, 2023 Marc Marasigan Comments

The first quarter of the year was a rough one for Pearl Abyss as the South Korean video game company revealed in its Q1 2023 investor call. The company reported a $6M revenue drop compared to Q2 2022 and a staggering $66M decline compared to the previous quarter although the dip was largely attributed to its subsidiary Pearl Abyss Capital [...]

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