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Thunderful Initiates Second Restructuring Effort, Resulting in Further Job Cuts
Thunderful has unveiled a new restructuring plan, which will lead to job losses for approximately 100 employees, both within and outside of Sweden. The company aims to bolster its third-party publishing endeavors while scaling back internal game development, affecting a substantial portion of its development team. Administrative and managerial positions will also be impacted. The expected outcome…
Nov. 14, 2024, 10:53 a.m.
News
Embracer Sees Significant Decline in PC and Console Sales During Q2
Embracer Group has released its Q2 financial results, revealing a decline in sales across all segments, particularly in its PC and console games division. For the three months ending September 30, 2024, net sales were SEK 8.55 billion ($774 million), representing a 21% year-over-year decrease. This includes a 46% decline in PC and console game sales, which reached SEK 2.12 billion ($192 million),…
Nov. 14, 2024, 10:06 a.m.
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Embracer Sells Easybrain to Miniclip for $1.2 Billion
In a major development, Embracer has agreed to sell its mobile game development subsidiary Easybrain to Miniclip, a prominent digital entertainment company, in a deal worth approximately $1.2 billion. The transaction, which is expected to be completed in the first quarter of 2025, will see Miniclip acquire full ownership of Easybrain. As part of the agreement, Embracer will receive the full payme…
Nov. 14, 2024, 9:28 a.m.
News
Ubisoft Names New Chief People Officer
Ubisoft has announced the appointment of Sébastien Froidefond as its new chief people officer. Froidefond is set to assume his role in a week's time, on November 20, and will be responsible for spearheading Ubisoft's global people strategy, with a focus on delivering exceptional human resources practices throughout the company. He will report directly to Cécile Russeil, EVP of communications. W…
Nov. 13, 2024, 9:05 p.m.
News
Funstop Games Receives $5 Million in Series A Funding to Fuel Growth
Funstop Games, a prominent casual gaming studio, has successfully secured $5 million in its Series A funding round, led by 360 One Asset. According to a report by The Economic Times, the funding will be utilized to enhance development capabilities, broaden the company's portfolio, and strengthen its ad-tech infrastructure. Co-founder Prashanth Vijay stated, "With 360 One Asset on board, we aim to…
Nov. 13, 2024, 6:01 p.m.
News
ZeniMax Workers United-CWA Strike Over Return-to-Office Policies and Outsourcing Concerns
A strike is underway by hundreds of ZeniMax Studios employees, driven by disagreements over the company's policy on working from home and the outsourcing of quality assurance tasks. The Communication Workers of America recently filed a complaint against ZeniMax, accusing the company of unfairly outsourcing QA work without prior notification to the union. According to ZeniMax Workers United-CWA, t…
Nov. 13, 2024, 3:40 p.m.
News
Majority of US Children Hope to Receive Gaming Consoles and Games This Christmas
A significant 76% of US children are looking forward to receiving gaming-related gifts during the upcoming holiday season, with nearly half of the surveyed youngsters expressing interest in consoles. The findings are based on a survey conducted by the Entertainment Software Association, which polled over 500 children aged 10 to 17 about their preferred Christmas gifts. This year's figure represen…
Nov. 13, 2024, 3:13 p.m.
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Microsoft Explores Further Acquisitions and Mobile Expansion
Microsoft remains open to potential gaming-related acquisitions, especially in the mobile sector or regions that could enhance Xbox's geographic diversity. According to Phil Spencer, Microsoft Gaming CEO, the company is interested in exploring opportunities that align with its gaming goals. Spencer noted that while there are no immediate deals on the horizon, Microsoft is likely to target smaller…
Nov. 13, 2024, 2:42 p.m.
News
Sweden's Gaming Industry Sees 6.4% Revenue Growth in 2023
According to a recent report by Dataspelsbranschen, the Swedish gaming industry's domestic revenue grew by 6.4% year-over-year in 2023, reaching SEK 34.6 billion ($3.17 billion). The industry has seen significant growth over the past five years, with revenue doubling during this period. The number of gaming companies in Sweden increased by 8% in 2023, with 108 new companies emerging, bringing the…
Nov. 13, 2024, 12:15 p.m.
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Mobile Gaming Market Projected to Hit $98.7 Billion by 2024, Says Xsolla
According to Xsolla's Autumn 2024 State of Play report, the mobile gaming industry is anticipated to generate $98.7 billion in revenue by 2024, with China taking the lead by producing $34.6 billion. The report also predicts a compound annual growth rate of 6.4% from 2024 to 2027, resulting in a market value of $118.9 billion by 2027. Asia is expected to remain the largest mobile gaming market glo…
Nov. 13, 2024, 11:49 a.m.