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Long-standing UK Recruitment Agency OPM to Cease Operations After 26 Years
After 26 years of service, One Player Mission (OPM), a specialist games recruitment agency, is set to close its doors. The agency, which currently has a staff of 15, has been impacted by the current state of the games industry. According to Managing Director Kim Parker-Adcock, the company's profitability is under threat due to the industry's present circumstances. This decision follows a signific…
Jan. 23, 2024, 1:06 p.m.
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Palworld Achieves 6 Million Copies Sold in Just Four Days
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Jan. 23, 2024, 9:53 a.m.
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Global Gaming Market Projected to Reach $189 Billion by 2024
According to Newzoo's latest report, the global gaming market is anticipated to generate $189.3 billion in revenue by 2024. The market is expected to experience slow growth, with a compound annual growth rate of 1.3% from 2021 to 2026. In 2023, the market reportedly earned $184 billion, representing a modest 0.6% increase from the previous year. Newzoo remains optimistic about the PC and console …
Jan. 23, 2024, 9:45 a.m.
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Riot Games Announces Major Restructuring: 530 Jobs Cut and Riot Forge Closure
Riot Games, the developer behind League of Legends, has revealed plans to lay off approximately 11% of its workforce, equivalent to 530 employees. According to CEO Dylan Jadeja, the layoffs primarily affect teams outside of core game development. Affected employees will receive comprehensive severance packages, including a minimum of six months of pay, a cash bonus, and extensive support services…
Jan. 23, 2024, 8:44 a.m.
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Experience Up to Two Years of Industry Shifts: Subscriptions and Ownership Debated
The newest podcast episode is ready for download, with a video version to follow shortly. This episode begins with Chris' analysis of the industry preparing for a challenging period, anticipating up to two years of upheaval, adjusted release schedules, and shifting investment landscapes. Additionally, the discussion covers the response to the interview with Ubisoft's Philippe Tremblay, focusing o…
Jan. 22, 2024, 4:41 p.m.
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Obelisk Studio Secures $2 Million Investment from The Games Fund
Obelisk Studio has successfully raised $2 million in funding from The Games Fund, which will be utilized to develop its inaugural intellectual property, a psychological action-horror game titled Displacement. Previously, the Cyprus-based gaming company focused on co-development projects, including notable titles such as Sons of Forest, Call of Duty, Fallout 76, and New World. According to Artem D…
Jan. 22, 2024, 2:38 p.m.
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TapNation Expands with Acquisition of UA Hero
TapNation, a prominent mobile game developer and publisher, has announced the acquisition of UA Hero, an innovative AI-powered platform specializing in user acquisition and ad campaign optimization. Following the acquisition, UA Hero will operate as a subsidiary of TapNation, facilitating a collaborative approach to drive ongoing innovation and improvement. By leveraging UA Hero's expertise, TapN…
Jan. 22, 2024, 11:37 a.m.
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Video Game Industry Executives Prepare for Prolonged Challenges
The turmoil currently affecting the video game industry is expected to persist throughout 2024 and potentially into 2025, according to industry leaders. In private discussions, executives from publishing, development, and investment firms have expressed concerns over high interest rates, an oversaturated market, and cautious investors, which may lead to further restructuring, layoffs, and closure…
Jan. 22, 2024, 10:07 a.m.
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Talofa Games Raises $6.3 Million in Latest Funding Round
Talofa Games has successfully secured $6.3 million in its latest seed funding round, led by Chamaeleon, a prominent venture capital firm. Established in 2019, the US-based game developer recently unveiled its mobile multiplayer fitness game, Run Legends. The newly acquired funds will be utilized to enhance the game and pave the way for the development of similar titles. The funding round saw pa…
Jan. 22, 2024, 9:52 a.m.
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Palworld Achieves Record-Breaking Sales of 4 Million and Ranks Fifth in Concurrent Steam Players
The survival game Palworld experienced a phenomenal launch over the weekend, with sales exceeding four million units within a mere three-day period. Despite being in Early Access, the game has garnered significant attention and is also available through Xbox Game Pass. According to the developer PocketPair, the game was selling at an impressive rate of 86,000 copies per hour. Palworld reached a p…
Jan. 22, 2024, 8:34 a.m.