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Xbox Revenue Sees Significant Decline of $1.7 Billion, with Hardware Sales Dropping 29% Year-over-Year
Microsoft's latest financial report reveals a 7% decline in Xbox revenue for the full year and a 10% drop in the fourth quarter. Although growth in Game Pass partially offset the annual decline, hardware revenue plummeted 29% due to reduced console sales. Key highlights for the quarter ending June 30, 2026, include: $90 billion in revenue, up 18% year-over-year, and $35.8 billion in net income, u…
July 30, 2026, 8:21 a.m.
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Resident Evil Remakes Fueling Financial Growth for New Games and IPs at Capcom
According to Capcom producer Masachika Kawata, the company's remake strategy for classic Resident Evil games is yielding significant financial gains, which in turn support the development of new titles and intellectual properties. Kawata emphasized that this approach not only generates revenue but also allows the development team to refine their skills and push their creative boundaries. By remak…
July 29, 2026, 1:50 p.m.
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July 2026 Jobs Roundup: Key Appointments and Departures in the Gaming Industry
The games industry has witnessed significant personnel shifts in recent times. To keep track of these developments, we have compiled a roundup of the latest appointments, promotions, and departures. For inclusion in future updates, please submit details of new hires and role changes to newhires@gamesindustry.biz. Notable appointments include Martin Keely, who has joined Epic Games as vice preside…
July 29, 2026, 11:03 a.m.
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Krafton Sees 94.9% Revenue Surge to $889.1m in Q2, Driven by Subnautica and PUBG
Krafton reported a significant surge in revenue for the second quarter, with a 94.9% increase to ₩1.29 trillion ($889.1 million), and a 67% rise in operating profit to ₩410.9 billion ($283.1 million). The growth was primarily driven by the success of Subnautica 2 and the ongoing expansion of the PUBG franchise. Subnautica 2, which launched in Early Access in May, sold over five million units with…
July 29, 2026, 10:18 a.m.
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UK Games Fund Unveils Largest Ever Cohort of Indie Developers to Receive Funding of Up to £100,000
The UK Games Fund has announced its most extensive group of funded companies since its inception in 2015, with 29 independent studios across the UK receiving grants of up to £100,000 through the expanded Prototype Fund. According to UK Games Fund Director Kirsty Gibson, "Following the reopening of applications for the Prototype Fund in April, we were met with a strong response from highly talente…
July 29, 2026, 8:55 a.m.
News
Double Fine Productions Lays Off 23 Employees Following Independence from Xbox
Double Fine Productions has undergone a significant restructuring, resulting in the loss of 23 jobs, which accounts for 25% of its workforce. This move comes after the studio gained full independence from Xbox earlier in the week. In a statement released on social media, Tim Schafer, the founder and CEO of Double Fine Productions, announced the layoffs, stating that the decision was necessary for…
July 29, 2026, 7:26 a.m.
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Layoffs in the gaming industry expected to surge by 78% to 14,259 by 2026
According to recent data from the ASGC Games Industry Layoffs Tracker, the number of job losses in the industry is projected to reach 14,259 by the end of 2026, a significant increase of 78% from the initial forecast for the year. The initial forecast in January predicted 8,025 layoffs, but this number has already risen to 9,781 as of the July 26 update. "The pace of layoffs is accelerating f…
July 28, 2026, 1:44 p.m.
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Capcom Sees 81% Jump in Quarterly Profit, Driven by Pragmata and Resident Evil Success
Capcom has announced its financial results for the first quarter, highlighting significant increases in net and ordinary profit, largely attributed to the success of Pragmata and its established Resident Evil franchise. The company is confident in meeting its full-year projections of ¥210 billion in net sales and ¥58 billion in net income. Key financial highlights for the quarter ending June 30, …
July 28, 2026, 11:17 a.m.
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Atari and Twin Galaxies Launch Global Gaming Tournament
Atari has collaborated with Twin Galaxies to introduce the inaugural Atari World Championships. The event commences with an online tournament, where participants can compete in five iconic Atari games, ultimately leading to a live, in-person grand finale. Twin Galaxies, a renowned platform for competitive gaming and record-keeping, will utilize its proprietary Submission and Adjudication Process …
July 28, 2026, 11 a.m.
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Wizards of the Coast President John Hight to Leave Position
John Hight, the current president of Wizards of the Coast, has announced his decision to step down from the role effective September 1. According to a recent US Securities and Exchange Commission filing, Hight will continue to work with the company as an advisor after his departure. Having joined Wizards of the Coast in August 2024, Hight brought with him nearly 13 years of experience from Blizza…
July 28, 2026, 10:21 a.m.