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Mighty Kingdom Successfully Defends Against Former CEO's Hostile Takeover Bid
In a significant development, Mighty Kingdom's shareholders have rejected a proposal by the studio's former CEO, Shane Yeend, to overthrow the current board of directors. The decision, made at an Extraordinary General Meeting, demonstrates the shareholders' confidence in the company's existing leadership and strategic direction. According to the studio, fewer than 10% of shareholders voted in f…
Jan. 19, 2024, 8:49 p.m.
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Square Enix Aims to Streamline Its Portfolio
In a recent financial briefing, Square Enix President Takashi Kiryu outlined his vision to refine the company's game lineup. Kiryu expressed his desire to concentrate on developing a smaller number of high-quality titles, rather than spreading resources too thin. He acknowledged that the current lineup lacks diversity and that the company has been too reliant on specific genres and franchises, su…
Jan. 19, 2024, 3:31 p.m.
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UK Game Developers Show Cautious Optimism for 2024
A recent survey by TIGA found that 73% of UK game studios are planning to expand in 2024, with only 6% anticipating staff reductions. The trade body's Business Opinion Survey 2023-2024 indicates that UK game businesses are adopting a cautiously optimistic outlook for the upcoming year, with nearly half of respondents expressing hope for their company's future, marking a 40% increase from the prev…
Jan. 19, 2024, 12:18 p.m.
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31st Union Reduces Workforce by a Limited Number
2K's subsidiary, 31st Union, has confirmed that it laid off a limited number of employees. According to a report by Kotaku, fewer than ten staff members were affected by the decision, which the studio claims is part of its efforts to provide the best possible support for its operations and game development. The company expressed that such decisions are difficult but believes in the studio's posit…
Jan. 19, 2024, 10:10 a.m.
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Trademark Dispute Between Take-Two and Remedy Over Logo Design Resolved
A trademark dispute was reportedly initiated by Take-Two Interactive due to perceived similarities between the logos of Remedy and Rockstar Games. Remedy had filed for two logo variations at the UK Intellectual Property Office in May 2023, which Take-Two opposed in September. However, the matter has since been resolved. The issue arose after Remedy unveiled its new logo in April 2023, aiming to c…
Jan. 18, 2024, 9:12 p.m.
News
Microsoft Unveils 2024 Gaming Lineup Led by Indiana Jones and the Great Circle
In a recent Developer Direct video, Microsoft showcased its 2024 software lineup, featuring five major games, with the highlight being MachineGames' Indiana Jones and the Great Circle, scheduled to release on Xbox, PC, and Game Pass later this year. To kick off the year, Senua's Saga: Hellblade 2 will be available on Xbox, PC, and Game Pass starting May 21. Additionally, the action-RPG Visions of…
Jan. 18, 2024, 9:06 p.m.
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Layoffs Hit 35% of Game Developers in the Past Year, According to GDC Survey
The Game Developers Conference's annual survey, conducted by Informa and its market research firm Omdia, polled over 3,000 game developers in October, revealing the impact of layoffs on the industry. A significant 35% of respondents reported being affected by layoffs in the past year, with 7% having been laid off themselves, 17% seeing colleagues let go, and 11% experiencing layoffs in other depa…
Jan. 18, 2024, 5 p.m.
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Behaviour Interactive Announces Layoffs Affecting 45 Employees
Behaviour Interactive has confirmed to GamesIndustry.biz that it has undergone a round of layoffs, which accounts for less than 3% of its total workforce and is limited to its Montreal staff. A spokesperson for the company explained, "Due to shifting market conditions, we had to adjust the scope of several projects. Whenever possible, we try to reassign talent to other projects, but unfortunately…
Jan. 18, 2024, 3:28 p.m.
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US Gaming Industry Sees 1% Year-Over-Year Growth in 2023, Driven by 4% December Sales Increase
The US gaming industry bounced back in 2023, with total spending increasing by 1% to $57.2 billion, according to Circana's latest report. This growth was driven by modest gains in software, add-ons, and subscriptions, as well as accessories, which offset the relatively flat hardware sales. Notably, Hogwarts Legacy took the top spot as the best-selling game of the year in terms of dollar sales, a …
Jan. 18, 2024, 3:11 p.m.
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Movie Adaptation of Until Dawn in the Works
A film adaptation of the popular horror game Until Dawn is underway, courtesy of PlayStation Productions and Screen Gems, a subsidiary of Sony Pictures Entertainment. The project will be directed by acclaimed Swedish filmmaker David F. Sandberg, known for his work on Annabelle: Creation and the Shazam movies, as reported by The Hollywood Reporter. The screenplay, initially penned by Blair Butler,…
Jan. 18, 2024, 12:21 p.m.