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Team17 Sees 11% Revenue Boost in First Half of 2024
Team17 has announced its financial results for the first half of 2024, revealing an 11% increase in revenue to £80.6 million. Key highlights for the six months ending June 30, 2024, include: revenue of £80.6 million, up 11% year-over-year, and gross profit of £32.9 million, up 9% year-over-year. The company saw growth across its business operations, with an 18% increase in EBITDA to £19.4 million…
Sept. 17, 2024, 9:49 a.m.
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PS5 Pro and Ubisoft's Struggles | Latest Microcast Episode
Our newest, extended episode of The GamesIndustry.biz Microcast is ready for download. This time, we're joined by Piers Harding-Rolls from Ampere Analysis to explore the recent reveal of the PS5 Pro, its potential market value, and sales outlook given its contentious pricing. We also examine Ubisoft's performance over the past few years, highlighting key challenges the company is facing. Addition…
Sept. 17, 2024, 9:02 a.m.
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IBM Secures $44.9 Million Victory in Patent Infringement Case Against Zynga
IBM has emerged victorious in its 2022 patent infringement case against Zynga, with a Delaware jury finding that Zynga's popular mobile game Farmville, along with several spin-off titles, infringed upon IBM's patents related to web-based communications. Other Zynga games accused of infringing IBM's patents include Crosswords With Friends, CSR Racing 2, Empires and Puzzles, Harry Potter: Puzzles &…
Sept. 16, 2024, 7:21 p.m.
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nDreams VR Studio to Reduce Workforce by Up to 17.5%
The UK-based VR studio, nDreams, has announced plans to downsize its workforce by up to 17.5%. In a statement, CEO Patrick O'Luanaigh explained that despite exploring alternative solutions, the company's new strategic direction may result in redundancies affecting a significant number of employees. According to the company's LinkedIn profile, which lists its employee count as between 201 and …
Sept. 16, 2024, 5:43 p.m.
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Intel Allegedly Misses Out on PlayStation 6 Chip Deal to AMD
According to reports, Intel lost the opportunity to supply chips for Sony's upcoming PlayStation 6 console to AMD in 2022, potentially forfeiting around $30 billion in revenue. Reuters cites sources stating that the deal fell through due to disagreements between Intel and Sony over the revenue sharing model for each chip sold. Internal Intel projections reportedly suggested that securing the cont…
Sept. 16, 2024, 2:34 p.m.
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Italian Authorities Seize Counterfeit Vintage Gaming Consoles Worth €47.5 Million
A significant operation by Italian law enforcement has resulted in the seizure of counterfeit vintage consoles and games valued at €47.5 million. According to reports, the seizure included almost 12,000 consoles containing over 47 million pirated games, featuring popular titles such as Super Mario Bros., Street Fighter, and Star Wars. The counterfeit consoles, which originated from China, were in…
Sept. 16, 2024, 10:07 a.m.
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Flappy Bird Makes a Comeback a Decade Later Following Fan Group's Trademark Acquisition
September 16, 2024 update: Dong Nguyen, the brain behind Flappy Bird, took to social media to clarify that he has no connection to the game's re-launch. "I have no association with their game," he stated. "I didn't sell anything, and I also don't support cryptocurrency." The Flappy Bird Foundation Group, now the trademark owner, is headed by Michael Roberts, a designer who also leads 1208 Produc…
Sept. 16, 2024, 9:11 a.m.
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Saber Interactive Receives Funding from Investors to Settle Embracer Debt
Saber Interactive has obtained investments from two prominent private equity firms, Aleph Capital Partners and Crestview Partners, to aid in settling its debt obligations to Embracer. The firms have made a substantial, albeit undisclosed, equity investment to support Saber's expansion plans and mergers and acquisitions activities. As a result of this transaction, Jamie Rahamim, Managing Director …
Sept. 16, 2024, 8:54 a.m.
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Annapurna's Demise: Control 2, Wanderstop, and Mixtape Remain Unscathed
The recent news of Annapurna Interactive's collapse has prompted a response from developers with upcoming projects slated for publication by the firm, with many confirming that their projects remain unaffected. Remedy's communications director, Thomas Puha, took to social media to clarify that the studio's deal for Control 2 and its TV projects was with Annapurna Pictures, not the video games bra…
Sept. 13, 2024, 2:16 p.m.
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Ontario's First Game Development Labour Union Forms at Joydrop, Followed by Mass Layoffs of Voting Staff
A recent development in the Ontario game development scene saw the establishment of the province's first labour union for game developers at Joydrop, a subsidiary of Mikutech. However, this milestone was quickly overshadowed by the reported layoffs of the majority of staff who voted in favour of unionisation. According to former employee Stephan Reilly, 16 out of 17 members voted to form the unio…
Sept. 13, 2024, 1:58 p.m.