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GameSpot Experiences Staff Reduction
GameSpot, a gaming outlet owned by Fandom, has undergone a new round of staff layoffs, as confirmed by current and former employees on social media platforms. Although the employees' posts do not provide specific details about the extent or focus of the layoffs, they mention that a certain number of staff members were let go. A spokesperson for Fandom declined to comment on the matter, stating th…
Jan. 31, 2024, 8:06 p.m.
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Nimble Giant Entertainment Cuts Workforce by 28
Reports indicate that Nimble Giant Entertainment, a subsidiary of Embracer, has reduced its workforce by 28 employees. According to sources cited by Kotaku, this round of layoffs follows similar cuts made in 2023. Affected staff members have taken to social media to announce their job searches. Founded in 2002, Nimble Giant Entertainment is based in Buenos Aires, Argentina, and has developed game…
Jan. 31, 2024, 8:04 p.m.
News
Tokyo RPG Factory Shuts Down as Square Enix Takes Over
Square Enix has officially dissolved Tokyo RPG Factory, integrating the subsidiary into its main operations. According to reports from Gematsu and Gamebiz, the company will assume ownership of the studio's assets and liabilities. Established in 2014, Tokyo RPG Factory focused on creating innovative console RPGs. The studio's notable releases include I Am Setsuna in 2016, Lost Sphear in 2017, and …
Jan. 31, 2024, 7:08 p.m.
News
Capcom Sees Significant Growth Driven by SF6 and RE4
Capcom has unveiled its financial results for the first nine months of its fiscal year, marking a highly successful period for the company. Key Business Highlights - Net sales reached ¥106 billion ($723 million), representing a 33% year-over-year increase - Operating income stood at ¥47.7 billion ($325 million), up 43% from the previous year - Net income was ¥34.6 billion ($236 million), a 47%…
Jan. 31, 2024, 3:21 p.m.
News
Sega of America Announces 61 Job Cuts
Update: The Allied Employees Guild Improving Sega has responded to the news on social media, linking the layoffs to the previously announced plan to phase out temporary workers by February 2024. The union had been in talks since November to negotiate the situation and confirmed the 61 job cuts. According to the union, their efforts have resulted in saving more than double the number of jobs and o…
Jan. 31, 2024, 11:19 a.m.
News
Order of Meta Secures $3.3 Million in Funding for Mobile Studio
Order of Meta, a Finnish mobile game development studio, has successfully raised $3.3 million in its seed funding round. According to reports by Pocket Gamer, the investment will be utilized to support the development and launch of its inaugural title, Cargo Hunters, an extraction shooter slated for release this year. The funding round was spearheaded by GEM Capital, with additional contributions…
Jan. 31, 2024, 10:42 a.m.
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Microsoft Sees 49% Increase in Xbox Revenue Following Activision Blizzard Acquisition
Microsoft's latest financial report reveals the significant impact of its $68.7 billion acquisition of Activision Blizzard, with Xbox revenue experiencing a year-over-year growth of 49%. The acquisition, which was completed in October, added hundreds of games and millions of users to Microsoft's gaming division, resulting in increased operating expenses. Although the Activision Blizzard deal bo…
Jan. 31, 2024, 10:35 a.m.
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EA Sports FC 24 Surpasses Projections, Drives EA's Q3 Expansion
Electronic Arts has released its Q3 FY24 earnings report, covering the period ending December 31, 2023, which reveals modest revenue growth and a substantial increase in profits that exceeded the company's projected range. The key financial highlights include: Revenue of $1.95 billion, representing a 3% year-over-year increase; Net income of $290 million, up 42% from the previous year; and Net bo…
Jan. 30, 2024, 9:44 p.m.
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Gaming Industry Roundup: January 2024 | Hutch Appoints Co-CEO
Staying on top of the ever-changing landscape of the gaming industry can be a daunting task, which is why we've compiled the latest appointments and transitions in a semi-regular roundup. If your company has any new hires or staff changes you'd like to share, please send the details to newhires@gamesindustry.biz. Recently, Hester Woodliffe was named chair of Video Games Europe, a position that wi…
Jan. 30, 2024, 6:39 p.m.
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Industry Insights: Apple Fees, Microsoft Layoffs, and the Future of Deus Ex
The newest installment of the GamesIndustry.biz Microcast is now available for download, with the video version coming soon. This episode begins with an examination of the recent Eidos Montreal layoffs and the cancellation of a new Deus Ex title, exploring the potential implications for the franchise's future and other affected franchises like TimeSplitters, whose fate is tied to the Embracer Gro…
Jan. 30, 2024, 5:44 p.m.