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Posts tagged Business

Report: 92 percent of PC game sales in 2013 were digital

Console games may still occupy a large amount of retail space with physical copies, but PC games are another story altogether, according to research firm DFC Intelligence. The organization told website PC Retail that 92 percent of all PC games sold across the world in 2013 were distributed...

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Modern Combat dev Gameloft saw no revenue growth in Q2

Gameloft, the mobile gaming developer/publisher behind series like Modern Combat and Asphalt, saw no revenue growth in Q2, Games Industry International reports. However, out of the French company's 12 to 15 games due this year, only four are currently available. Hence, Gameloft expects to see a...

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Crytek calls financial situation a 'transitional phase'

Despite numerous reports and rumblings of staff departures and resignations, Crytek has remained quiet regarding the company's overall financial situation. Until now, that is. A statement provided by a Crytek representative to Games Industry International claims that the company has been going...

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Hearing on 38 Studios' potential lobbying violations set for next week

Rhode Island Secretary of State Ralph Mollis has issued letters to four individuals, requesting their presence in court on July 1 to determine if attempts were made to lobby lawmakers following the costly collapse of game developer 38 Studios. "Our office has been diligently investigating who,...

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Riot Games offers new hires 'cash to quit'

League of Legends developer Riot Games has announced a new company initiative called Queue Dodge, which allows new North America hires to receive 10 percent of their annual salary if they leave the company within 60 days. "Basically, we're offering new hires cash to quit," the company stated. ...

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Skylanders enters breakfast cereal territory

Skylanders-branded cereal and fruit snacks may soon stock the shelves at your local grocery store thanks to the franchise's newly expanded licensing business, Games Industry reports. Publisher Activision Blizzard announced at the Licensing Expo 2014 that it has partnered with 175 companies...

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Sony CEO Kaz Hirai: PS4 'likely' to exceed PS2 profits

While Sony as a whole is predicting losses to the tune of almost half a billion this fiscal year, company CEO Kazuo Hirai is looking to the future - specifically, the PlayStation 4's future. During a corporate strategy meeting reported by Japanese website Impress Watch and translated by Eurogamer,...

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Report: YouTube to acquire Twitch for $1 billion [Update]

YouTube has opted to buy into the streaming video game business by acquiring Twitch for $1 billion, according to Variety. Citing unnamed sources close to the deal, Variety claims the $1 billion figure will change hands in an all-cash deal, with an official announcement and full details arriving...

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Konami net income half of last year's despite 'solid' game sales

Konami has released its financial report for fiscal year 2014, which ended March 31. The company's overall net income for 2014 was 6.2 billion yen ($60.9 million), down from 13.2 billion yen in 2013. Net revenue also dipped, though not as much: 217.6 billion yen ($2.1 billion) in 2014, down from...

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Report: Neversoft losing name, merging with Infinity Ward

Infinity Ward and Neversoft are merging, according to Giant Bomb. Citing an internal memo written by Activision Publishing CEO Eric Hirshberg, Giant Bomb reports that the Neversoft name will be retired, as the Infinity Ward name is so closely tied to Activision's annual Call of Duty franchise. This...

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