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Room 8 Group Completes Merger of Massive Black and PUGA
Room 8 Group has finalized the consolidation of PUGA and Massive Black under its studio brand, aiming to enhance operational efficiency and project delivery. According to Julien Proux, Executive Vice President of Art, "The unification of PUGA, Massive Black, and Room 8 Studio under a single brand is a significant step forward, symbolizing our transformation into a unified global entity dedicate…
Feb. 8, 2024, 9:34 p.m.
News
Investment in Women-Led Businesses Lags Behind
According to a recent report, women-led game studios received a mere $1.2 million in funding in 2021, whereas their male-founded counterparts amassed a staggering $4.1 billion. The data, compiled by research firm PitchBook, highlights a glaring disparity in investment support for marginalized developers. On average, women-led studios secured just $240,000 in venture capital, while men-led firms r…
Feb. 8, 2024, 7:34 p.m.
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Ubisoft Expects Record Year Following Strong Q3 Bookings
Ubisoft has announced its financial results for the first nine months of the fiscal year, revealing a modest increase in net bookings despite a decline in revenue. The publisher is confident that it will achieve a record year in terms of net bookings by the end of the current quarter, driven by the success of recent releases such as Assassin's Creed Mirage and Avatar: Frontiers of Pandora, as wel…
Feb. 8, 2024, 5:50 p.m.
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Krafton Sees 3% Increase in Sales for 2023
Krafton, the publisher of PUBG, has released its annual financial report, revealing a 3% increase in sales. Key highlights from the report include: - Annual sales: KRW1.9 trillion ($1.4 billion), representing a 3% year-over-year increase - Annual profit: KRW500 billion ($375 million), marking a 30% year-over-year increase - Q4 sales: KRW534 billion ($401 million), up 13% year-over-year …
Feb. 8, 2024, 4:06 p.m.
News
Take-Two Claims Virtual Currencies Are Not Real in Effort to Dismiss Lawsuit
Take-Two has made the argument that virtual currencies are fictional in a bid to have a lawsuit against them dismissed. The company filed a motion to dismiss on February 2, 2024, in response to allegations of unlawful business practices related to virtual currencies being non-transferable or refundable once game servers are shut down. According to the motion, the virtual currency is not the playe…
Feb. 8, 2024, 3:23 p.m.
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Kadokawa Corporation Acquires Acquire, Developer of Octopath Traveler
Kadokawa Corporation, the parent company of FromSoftware, has acquired Acquire, the development studio behind Octopath Traveler, for an undisclosed amount. This move was revealed in the company's latest quarterly earnings report. According to Kadokawa, the acquisition aims to bolster its ability to create intellectual properties in the gaming sector as part of its overall game business strategy. …
Feb. 8, 2024, 3:09 p.m.
News
Stoke Games Secures $5.5 Million in Funding for Innovative PvP Game
Stoke Games has announced the successful completion of a $5.5 million funding round for its inaugural game title, a unique PvP game that blends elements of shooter games with strategic gameplay. The studio, comprising 14 members, was co-founded by Veigar Bouius and Jon Diesta, who previously worked on Multiversus at Player First Games. According to Bouius, the game offers a fresh experience for p…
Feb. 8, 2024, 2:50 p.m.
News
Hidden Path Reduces Workforce by 44 Amidst Funding Setbacks
Michael Austin, founder and creative director of Hidden Path Entertainment, announced on LinkedIn that the company has undergone a significant restructuring, resulting in the layoff of 44 staff members, as reported by Game Developer. According to the studio's website, its development team comprises over 65 members. Austin explained that despite six months of active discussions to secure replaceme…
Feb. 8, 2024, 2:17 p.m.
News
IGDA Introduces New Incubation Special Interest Group
The International Game Developers Association has launched a new Incubation Special Interest Group, bringing together over 80 gaming incubators and accelerators from more than 50 countries. Under the leadership of Sho Sato, co-founder of the indie Game incubator, the group will offer mentorship programs, an open-source toolkit, and joint exhibition opportunities. Additionally, it will host intern…
Feb. 8, 2024, 12:15 p.m.
News
Microsoft's Acquisition of Activision Under Fire from FTC Amid Mass Layoffs
The US Federal Trade Commission has alleged that Microsoft's recent layoffs at Activision Blizzard contradict the company's initial intentions for the acquisition. In a letter to the US Court of Appeals, FTC lawyer Imad Abyad pointed out that Microsoft had stated its intention to operate Activision as a limited-integration studio, yet the company laid off nearly 1,900 employees from its games div…
Feb. 8, 2024, 10:54 a.m.