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Celebrating Diversity in the Gaming Industry: 2023 Pride Month Highlights
The gaming industry has made significant strides in promoting diversity and inclusivity, and this year's Pride Month is no exception. Several major gaming companies have announced their plans to celebrate and support the LGBTQIA+ community. Overwatch 2 is introducing its first Pride Month celebration, featuring icons, name cards, and a short story highlighting the game's gender-diverse heroes. Pl…
June 15, 2023, 2:09 p.m.
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Million Victories Secures $6.5 Million in Funding
Million Victories, a French mobile game development studio, has successfully raised $6.5 million in its latest funding round. According to a report by GamesBeat, the investment was led by Eurazeo and Griffin Gaming Partners. The funds will be utilized to enhance and update the studio's real-time strategy game, Million Lords, with a long-term goal of transforming it into a 3D game. Founded in 2019…
June 15, 2023, 8:59 a.m.
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CD Projekt Red Achieves Better Work-Life Balance, According to Phantom Liberty Director
CD Projekt Red has made significant strides in improving its employees' work-life balance, according to Gabe Amantangelo, the director of the upcoming Cyberpunk 2077 expansion Phantom Liberty. In an interview with Bloomberg, Amantangelo stated that the company has implemented new policies to prevent burnout, including a system that alerts management if an employee works extended hours. Employees …
June 14, 2023, 3:23 p.m.
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Zelda: Tears of the Kingdom Achieves 1.5 Million Boxed Sales in Japan During May
The Legend of Zelda: Tears of the Kingdom took the top spot in Japan's physical game sales for May, as expected. According to Famitsu's data, the game sold 1.5 million copies by May 28. A weekly breakdown reveals that 1.1 million copies were sold during the second week of May alone, with the game releasing on May 12. This translates to 1.1 million units sold within just three days. In comparison,…
June 14, 2023, 2:28 p.m.
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FunPlus Faces New Class Action Lawsuit Over Alleged Deceptive Advertising Practices
A recent class action lawsuit has been initiated against mobile game developer and publisher FunPlus, along with its subsidiary KingsGroup, over claims of false advertising in their title King of Avalon. The lawsuit alleges that the companies engaged in deceptive practices by making it appear as though in-game purchases had been significantly discounted, when in reality the 'sale' prices were the…
June 14, 2023, 1:10 p.m.
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UK Games Fund Allocation to Rise by £5m
The UK government has unveiled a new initiative to bolster the creative industries, including enhanced financial backing for game development studios. The UK Games Fund, established in 2015 to support fledgling studios, is set to receive a £5 million boost, bringing its total to £13.4 million over the next two years. As part of a broader £77 million funding package for the creative sector, the go…
June 14, 2023, 10:49 a.m.
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Ubisoft and Embracer Group: A Tale of Two Strategies | Microcast
In the latest GamesIndustry.biz Microcast, James and Brendan delve into two significant gaming stories. They begin by recapping the major summer games showcases, focusing on Ubisoft's recent Forward event, which featured a diverse lineup including Avatar: Frontiers of Pandora and the unconventional introduction of Captain Laserhawk: A Blood Dragon Remix. The conversation then shifts to Embracer G…
June 13, 2023, 2:52 p.m.
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Pragmata Release Delayed by Capcom Once More
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June 13, 2023, 9:50 a.m.
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Embracer Group Announces Leadership Overhaul Amid Restructuring Efforts
Embracer Group has initiated a significant transformation of its leadership team as part of a broader restructuring initiative. The company has unveiled plans to reorganize its operations, aiming to reduce debt and transition into a business model driven by high cash flow generation. As a result, Matthew Karch, formerly the CEO of Saber Interactive, will relinquish his position and board membersh…
June 13, 2023, 9 a.m.
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Embracer Unveils Restructuring Plan, Anticipating Studio Closures
Embracer has launched a comprehensive restructuring program aimed at optimizing resource utilization. The initiative includes operational and financial measures to enhance cash conversion, efficiency, and reduce capital expenditures, targeting a net debt of under SEK 10 billion by the end of the 2023/2024 financial year. The company plans to cut overhead costs by at least 10% or SEK 800 million a…
June 13, 2023, 8:41 a.m.